Mike J. Taylor Buys 1,980 Shares of Friedman Industries, Incorporated (NYSEAMERICAN:FRD) Stock

Friedman Industries, Incorporated (NYSEAMERICAN:FRD) CEO Mike J. Taylor acquired 1,980 shares of the business’s stock in a transaction on Monday, January 13th. The shares were purchased at an average cost of $14.50 per share, for a total transaction of $28,710.00. Following the completion of the acquisition, the chief executive officer now directly owns 166,134 shares in the company, valued at approximately $2,408,943. The trade was a 1.21 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Friedman Industries Stock Performance

Shares of NYSEAMERICAN:FRD traded up $0.24 during midday trading on Wednesday, reaching $14.20. The company had a trading volume of 16,849 shares, compared to its average volume of 8,824. The company has a market capitalization of $98.97 million, a P/E ratio of 12.46 and a beta of 1.41. Friedman Industries, Incorporated has a 52-week low of $13.40 and a 52-week high of $19.52.

Friedman Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 17th will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend is Friday, January 17th. Friedman Industries’s dividend payout ratio (DPR) is currently 14.04%.

Hedge Funds Weigh In On Friedman Industries

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC raised its stake in Friedman Industries by 11.2% in the 3rd quarter. Geode Capital Management LLC now owns 70,727 shares of the company’s stock valued at $1,133,000 after acquiring an additional 7,141 shares during the period. Empowered Funds LLC raised its stake in Friedman Industries by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 34,878 shares of the company’s stock valued at $559,000 after acquiring an additional 1,742 shares during the period. De Lisle Partners LLP raised its stake in Friedman Industries by 2.9% in the 3rd quarter. De Lisle Partners LLP now owns 419,816 shares of the company’s stock valued at $6,644,000 after acquiring an additional 11,689 shares during the period. Renaissance Technologies LLC raised its stake in Friedman Industries by 0.6% in the 2nd quarter. Renaissance Technologies LLC now owns 361,882 shares of the company’s stock valued at $5,464,000 after acquiring an additional 2,245 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Friedman Industries by 0.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 561,702 shares of the company’s stock valued at $8,482,000 after acquiring an additional 1,591 shares during the period. 33.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Friedman Industries Company Profile

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.