Mike J. Taylor Buys 5,000 Shares of Friedman Industries, Incorporated (NYSEAMERICAN:FRD) Stock

Friedman Industries, Incorporated (NYSEAMERICAN:FRD) CEO Mike J. Taylor acquired 5,000 shares of Friedman Industries stock in a transaction that occurred on Tuesday, July 2nd. The stock was acquired at an average cost of $14.50 per share, for a total transaction of $72,500.00. Following the completion of the purchase, the chief executive officer now directly owns 157,154 shares of the company’s stock, valued at $2,278,733. The acquisition was disclosed in a filing with the SEC, which is available through this link.

Friedman Industries Trading Up 0.9 %

Friedman Industries stock traded up $0.13 during trading hours on Friday, hitting $14.80. The stock had a trading volume of 11,043 shares, compared to its average volume of 18,814. The company has a market capitalization of $103.16 million, a PE ratio of 6.14 and a beta of 1.37. Friedman Industries, Incorporated has a one year low of $9.50 and a one year high of $19.52.

Friedman Industries (NYSEAMERICAN:FRD) last posted its earnings results on Tuesday, June 11th. The company reported $0.71 earnings per share for the quarter. Friedman Industries had a net margin of 3.36% and a return on equity of 13.86%. The firm had revenue of $132.23 million for the quarter.

Friedman Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Friday, July 26th will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend is Friday, July 26th. Friedman Industries’s payout ratio is presently 6.69%.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Friedman Industries from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 19th.

Hedge Funds Weigh In On Friedman Industries

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Gendell Jeffrey L grew its holdings in Friedman Industries by 16.4% during the 1st quarter. Gendell Jeffrey L now owns 435,666 shares of the company’s stock worth $8,164,000 after acquiring an additional 61,339 shares during the period. O Shaughnessy Asset Management LLC acquired a new stake in Friedman Industries during the first quarter worth approximately $425,000. Hillsdale Investment Management Inc. bought a new stake in Friedman Industries in the first quarter worth approximately $131,000. Janney Montgomery Scott LLC lifted its stake in Friedman Industries by 17.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 29,667 shares of the company’s stock valued at $459,000 after buying an additional 4,377 shares during the period. Finally, AJOVista LLC bought a new position in shares of Friedman Industries during the 4th quarter worth approximately $49,000. 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.