Friedman Industries (NASDAQ:FRD) Director Acquires $10,025.00 in Stock

Friedman Industries Inc. (NASDAQ:FRD) Director Sandra Kay Scott acquired 500 shares of the company’s stock in a transaction dated Friday, November 28th. The stock was acquired at an average cost of $20.05 per share, with a total value of $10,025.00. Following the purchase, the director owned 10,069 shares of the company’s stock, valued at approximately $201,883.45. This trade represents a 5.23% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.

Sandra Kay Scott also recently made the following trade(s):

• On Monday, December 1st, Sandra Kay Scott purchased 500 shares of Friedman Industries stock. The stock was acquired at an average cost of $20.27 per share, for a total transaction of $10,135.00.

Friedman Industries Trading Up 0.2%

FRD stock opened at $19.62 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.24 and a quick ratio of 0.98. Friedman Industries Inc. has a 1-year low of $12.24 and a 1-year high of $23.50. The business has a 50 day simple moving average of $20.64 and a two-hundred day simple moving average of $18.64. The company has a market capitalization of $139.50 million, a price-to-earnings ratio of 12.11 and a beta of 1.55.

Friedman Industries (NASDAQ:FRD) last released its earnings results on Monday, November 10th. The company reported $0.32 EPS for the quarter. The firm had revenue of $152.38 million for the quarter. Friedman Industries had a net margin of 2.25% and a return on equity of 8.55%.

Friedman Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, October 24th were given a dividend of $0.04 per share. The ex-dividend date of this dividend was Friday, October 24th. This represents a $0.16 dividend on an annualized basis and a yield of 0.8%. Friedman Industries’s dividend payout ratio (DPR) is 9.88%.

Institutional Investors Weigh In On Friedman Industries

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC boosted its stake in Friedman Industries by 110.4% in the second quarter. Geode Capital Management LLC now owns 157,246 shares of the company’s stock valued at $2,605,000 after acquiring an additional 82,504 shares in the last quarter. Truffle Hound Capital LLC boosted its position in shares of Friedman Industries by 43.0% in the 2nd quarter. Truffle Hound Capital LLC now owns 150,000 shares of the company’s stock worth $2,484,000 after purchasing an additional 45,082 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new position in Friedman Industries during the 3rd quarter worth $595,000. Ritholtz Wealth Management grew its stake in Friedman Industries by 70.4% during the 3rd quarter. Ritholtz Wealth Management now owns 36,401 shares of the company’s stock worth $797,000 after buying an additional 15,038 shares during the last quarter. Finally, Bank of America Corp DE increased its position in Friedman Industries by 21,620.0% during the 2nd quarter. Bank of America Corp DE now owns 13,032 shares of the company’s stock valued at $216,000 after buying an additional 12,972 shares in the last quarter. Hedge funds and other institutional investors own 33.26% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Wall Street Zen cut shares of Friedman Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 15th. Weiss Ratings restated a “buy (b)” rating on shares of Friedman Industries in a report on Monday, November 24th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy”.

About Friedman Industries

Friedman Industries, Incorporated engages in steel processing, pipe manufacturing and processing, and the steel and pipe distribution businesses the United States. It operates in two segments, Coil and Tubular. The Coil segment is involved in the conversion of steel coils into flat sheet and plate steel cut to customer specifications and reselling steel coils.