Mike J. Taylor Buys 1,043 Shares of Friedman Industries, Incorporated (NYSEAMERICAN:FRD) Stock

Friedman Industries, Incorporated (NYSEAMERICAN:FRD) CEO Mike J. Taylor acquired 1,043 shares of Friedman Industries stock in a transaction on Thursday, September 12th. The shares were bought at an average price of $14.40 per share, with a total value of $15,019.20. Following the purchase, the chief executive officer now directly owns 159,654 shares in the company, valued at approximately $2,299,017.60. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

Friedman Industries Stock Down 4.3 %

NYSEAMERICAN:FRD opened at $13.91 on Wednesday. Friedman Industries, Incorporated has a 1-year low of $9.50 and a 1-year high of $19.52. The company has a market cap of $96.95 million, a PE ratio of 5.82 and a beta of 1.37.

Friedman Industries (NYSEAMERICAN:FRD) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.37 earnings per share for the quarter. Friedman Industries had a net margin of 2.48% and a return on equity of 9.65%. The company had revenue of $114.55 million during the quarter.

Friedman Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, July 26th were given a dividend of $0.04 per share. The ex-dividend date of this dividend was Friday, July 26th. This represents a $0.16 dividend on an annualized basis and a yield of 1.15%. Friedman Industries’s dividend payout ratio is currently 6.69%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Friedman Industries from a “buy” rating to a “hold” rating in a report on Tuesday.

Institutional Trading of Friedman Industries

Institutional investors have recently bought and sold shares of the business. Hillsdale Investment Management Inc. acquired a new stake in shares of Friedman Industries in the first quarter valued at about $131,000. O Shaughnessy Asset Management LLC acquired a new stake in Friedman Industries in the 1st quarter worth about $425,000. LSV Asset Management purchased a new stake in Friedman Industries during the 2nd quarter worth approximately $343,000. Janney Montgomery Scott LLC raised its holdings in shares of Friedman Industries by 17.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 29,667 shares of the company’s stock valued at $459,000 after acquiring an additional 4,377 shares during the last quarter. Finally, Empowered Funds LLC lifted its position in shares of Friedman Industries by 8.0% in the first quarter. Empowered Funds LLC now owns 30,796 shares of the company’s stock valued at $577,000 after acquiring an additional 2,275 shares in the last quarter. 33.26% of the stock is owned by institutional investors and hedge funds.

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.