Friedman Industries, Incorporated (NYSEAMERICAN:FRD) CEO Mike J. Taylor Buys 2,000 Shares

Friedman Industries, Incorporated (NYSEAMERICAN:FRD) CEO Mike J. Taylor acquired 2,000 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was purchased at an average cost of $13.50 per share, for a total transaction of $27,000.00. Following the acquisition, the chief executive officer now owns 164,154 shares in the company, valued at approximately $2,216,079. This trade represents a 1.23 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link.

Friedman Industries Trading Up 2.1 %

Friedman Industries stock traded up $0.32 during trading hours on Monday, hitting $15.40. 6,410 shares of the company traded hands, compared to its average volume of 17,205. Friedman Industries, Incorporated has a 1-year low of $11.15 and a 1-year high of $19.52. The stock has a market cap of $107.34 million, a price-to-earnings ratio of 13.23 and a beta of 1.38.

Friedman Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 25th were given a dividend of $0.04 per share. The ex-dividend date of this dividend was Friday, October 25th. This represents a $0.16 annualized dividend and a dividend yield of 1.04%. Friedman Industries’s dividend payout ratio (DPR) is 14.04%.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Friedman Industries from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th.

Hedge Funds Weigh In On Friedman Industries

Several large investors have recently made changes to their positions in FRD. O Shaughnessy Asset Management LLC acquired a new position in shares of Friedman Industries in the first quarter worth about $425,000. Callahan Advisors LLC lifted its position in shares of Friedman Industries by 8.6% in the second quarter. Callahan Advisors LLC now owns 54,131 shares of the company’s stock worth $817,000 after purchasing an additional 4,293 shares in the last quarter. Acadian Asset Management LLC lifted its position in shares of Friedman Industries by 1.0% in the second quarter. Acadian Asset Management LLC now owns 135,794 shares of the company’s stock worth $2,048,000 after purchasing an additional 1,337 shares in the last quarter. LSV Asset Management purchased a new stake in shares of Friedman Industries in the second quarter worth approximately $343,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Friedman Industries by 0.3% in the second quarter. Dimensional Fund Advisors LP now owns 561,702 shares of the company’s stock worth $8,482,000 after purchasing an additional 1,591 shares in the last quarter. Institutional investors own 33.26% of the company’s stock.

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.