Insider Buying: Friedman Industries, Incorporated (NYSEAMERICAN:FRD) CEO Buys 1,980 Shares of Stock

Friedman Industries, Incorporated (NYSEAMERICAN:FRD) CEO Mike J. Taylor acquired 1,980 shares of Friedman Industries stock in a transaction on Monday, January 13th. The stock was acquired at an average price of $14.50 per share, with a total value of $28,710.00. Following the purchase, the chief executive officer now directly owns 166,134 shares in the company, valued at approximately $2,408,943. This trade represents 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 Up 0.3 %

Friedman Industries stock opened at $13.95 on Friday. Friedman Industries, Incorporated has a twelve month low of $13.40 and a twelve month high of $19.52. The company has a market cap of $97.23 million, a PE ratio of 12.24 and a beta of 1.41.

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. The ex-dividend date is Friday, January 17th. This represents a $0.16 annualized dividend and a dividend yield of 1.15%. Friedman Industries’s payout ratio is presently 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.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FRD. Empowered Funds LLC raised its position in shares of Friedman Industries by 5.3% in the third quarter. Empowered Funds LLC now owns 34,878 shares of the company’s stock valued at $559,000 after purchasing an additional 1,742 shares during the period. Geode Capital Management LLC grew 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 buying an additional 7,141 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Friedman Industries by 0.6% during 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. De Lisle Partners LLP lifted its position in shares of Friedman Industries by 2.9% during the third quarter. De Lisle Partners LLP now owns 419,816 shares of the company’s stock worth $6,644,000 after acquiring an additional 11,689 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings 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 acquiring an additional 1,591 shares during the period. Hedge funds and other 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.