Insider Buying: Friedman Industries (NASDAQ:FRD) CEO Buys $19,280.00 in Stock

Friedman Industries Inc. (NASDAQ:FRD) CEO Mike Taylor acquired 1,000 shares of Friedman Industries stock in a transaction that occurred on Friday, November 21st. The shares were purchased at an average cost of $19.28 per share, with a total value of $19,280.00. Following the transaction, the chief executive officer owned 220,066 shares of the company’s stock, valued at approximately $4,242,872.48. The trade was a 0.46% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Friedman Industries Trading Up 1.0%

Friedman Industries stock opened at $20.05 on Friday. Friedman Industries Inc. has a 1-year low of $12.24 and a 1-year high of $23.50. The firm’s fifty day simple moving average is $20.93 and its 200-day simple moving average is $18.53. The company has a market capitalization of $142.60 million, a P/E ratio of 16.71 and a beta of 1.49.

Friedman Industries (NASDAQ:FRD) last issued its quarterly earnings data on Monday, November 10th. The company reported $0.32 EPS for the quarter. Friedman Industries had a return on equity of 6.50% and a net margin of 1.84%.The business had revenue of $152.38 million for the quarter.

Friedman Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Friday, October 24th were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Friday, October 24th. Friedman Industries’s payout ratio is presently 9.88%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Friedman Industries in a research note on Monday. Wall Street Zen downgraded shares of Friedman Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 15th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy”.

Hedge Funds Weigh In On Friedman Industries

Institutional investors and hedge funds have recently bought and sold shares of the business. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Friedman Industries in the second quarter valued at $29,000. BNP Paribas Financial Markets lifted its position in shares of Friedman Industries by 50.7% during the third quarter. BNP Paribas Financial Markets now owns 1,712 shares of the company’s stock worth $37,000 after purchasing an additional 576 shares in the last quarter. State of Wyoming acquired a new stake in shares of Friedman Industries in the first quarter valued at approximately $45,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Friedman Industries in the 2nd quarter worth approximately $60,000. Finally, New York State Common Retirement Fund acquired a new position in Friedman Industries during the 2nd quarter worth $103,000. Institutional investors and hedge funds 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.