Friedman Industries, Incorporated (NYSEAMERICAN:FRD) Short Interest Update

Friedman Industries, Incorporated (NYSEAMERICAN:FRD) was the recipient of a significant increase in short interest in January. As of January 15th, there was short interest totalling 10,100 shares, an increase of 7.4% from the December 31st total of 9,400 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 10,000 shares, the short-interest ratio is currently 1.0 days.

Insider Buying and Selling

In other Friedman Industries news, CEO Mike J. Taylor bought 2,500 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was bought at an average price of $14.10 per share, for a total transaction of $35,250.00. Following the completion of the transaction, the chief executive officer now owns 169,154 shares in the company, valued at approximately $2,385,071.40. The trade was a 1.50 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have purchased 8,380 shares of company stock valued at $117,772. Corporate insiders own 4.60% of the company’s stock.

Institutional Investors Weigh In On Friedman Industries

Several institutional investors have recently bought and sold shares of the business. Callahan Advisors LLC boosted its stake in shares of Friedman Industries by 3.3% in the fourth quarter. Callahan Advisors LLC now owns 53,846 shares of the company’s stock valued at $823,000 after purchasing an additional 1,712 shares during the period. Empowered Funds LLC boosted its stake in shares of Friedman Industries by 5.0% in the fourth quarter. Empowered Funds LLC now owns 36,629 shares of the company’s stock valued at $560,000 after purchasing an additional 1,751 shares during the period. Geode Capital Management LLC boosted its stake in shares of Friedman Industries by 11.2% in the third quarter. Geode Capital Management LLC now owns 70,727 shares of the company’s stock valued at $1,133,000 after purchasing an additional 7,141 shares during the period. De Lisle Partners LLP boosted its stake in shares of Friedman Industries by 2.9% in the third quarter. De Lisle Partners LLP now owns 419,816 shares of the company’s stock valued at $6,644,000 after purchasing an additional 11,689 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake 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 valued at $8,482,000 after purchasing an additional 1,591 shares during the period. 33.26% of the stock is currently owned by hedge funds and other institutional investors.

Friedman Industries Trading Up 0.3 %

FRD traded up $0.05 during midday trading on Tuesday, reaching $15.35. 340 shares of the company’s stock were exchanged, compared to its average volume of 13,287. The stock has a market cap of $106.95 million, a P/E ratio of 13.46 and a beta of 1.40. Friedman Industries has a 1-year low of $13.40 and a 1-year high of $19.52.

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

Friedman Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 17th will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Friday, January 17th. This represents a $0.16 annualized dividend and a yield of 1.04%. Friedman Industries’s dividend payout ratio is currently 14.04%.

Wall Street Analyst Weigh In

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

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.