Friedman Industries, Incorporated (NYSEAMERICAN:FRD) Director Purchases $25,845.00 in Stock

Friedman Industries, Incorporated (NYSEAMERICAN:FRD) Director Tim Scott Stevenson bought 1,500 shares of Friedman Industries stock in a transaction that occurred on Tuesday, February 11th. The stock was purchased at an average cost of $17.23 per share, with a total value of $25,845.00. Following the completion of the transaction, the director now owns 28,675 shares of the company’s stock, valued at $494,070.25. This trade represents a 5.52 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Friedman Industries Stock Up 2.3 %

FRD stock traded up $0.38 during midday trading on Tuesday, reaching $17.18. The stock had a trading volume of 17,751 shares, compared to its average volume of 14,387. The firm has a market cap of $119.74 million, a price-to-earnings ratio of 15.07 and a beta of 1.40. Friedman Industries, Incorporated has a twelve month low of $13.40 and a twelve month high of $19.52.

Friedman Industries (NYSEAMERICAN:FRD) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.10) earnings per share for the quarter. Friedman Industries had a net margin of 1.71% and a return on equity of 6.32%. The business had revenue of $106.76 million for the quarter.

Friedman Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 17th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.93%. The ex-dividend date is Friday, January 17th. Friedman Industries’s payout ratio is 14.04%.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Friedman Industries

Institutional investors and hedge funds have recently made changes to their positions in the stock. Jones Financial Companies Lllp bought a new stake in shares of Friedman Industries during the 4th quarter worth approximately $28,000. Corient Private Wealth LLC acquired a new position in shares of Friedman Industries during the 4th quarter worth approximately $401,000. Inspire Advisors LLC acquired a new position in shares of Friedman Industries during the 4th quarter worth approximately $422,000. Empowered Funds LLC increased its holdings in shares of Friedman Industries by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 34,878 shares of the company’s stock worth $559,000 after acquiring an additional 1,742 shares during the last quarter. Finally, Callahan Advisors LLC increased its holdings in shares of Friedman Industries by 3.3% during the 4th quarter. Callahan Advisors LLC now owns 53,846 shares of the company’s stock worth $823,000 after acquiring an additional 1,712 shares during the last quarter. Institutional investors own 33.26% of the company’s stock.

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.