Friedman Industries, Incorporated (NYSEAMERICAN:FRD) Director Buys $28,000.00 in Stock

Friedman Industries, Incorporated (NYSEAMERICAN:FRD) Director Max Alan Reichenthal acquired 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were bought at an average price of $14.00 per share, for a total transaction of $28,000.00. Following the completion of the purchase, the director now owns 30,761 shares of the company’s stock, valued at $430,654. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Max Alan Reichenthal also recently made the following trade(s):

• On Friday, August 16th, Max Alan Reichenthal bought 2,000 shares of Friedman Industries stock. The shares were bought at an average cost of $14.89 per share, for a total transaction of $29,780.00.

Friedman Industries Price Performance

Shares of NYSEAMERICAN FRD opened at $15.03 on Friday. Friedman Industries, Incorporated has a 1 year low of $9.50 and a 1 year high of $19.52. The firm has a market cap of $104.76 million, a price-to-earnings ratio of 6.29 and a beta of 1.37.

Friedman Industries (NYSEAMERICAN:FRD) last announced its earnings results on Thursday, August 8th. The company reported $0.37 earnings per share for the quarter. Friedman Industries had a return on equity of 9.65% and a net margin of 2.48%. The business had revenue of $114.55 million during the quarter.

Friedman Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, October 25th will be paid a $0.04 dividend. The ex-dividend date of this dividend is Friday, October 25th. This represents a $0.16 annualized dividend and a dividend yield of 1.06%. Friedman Industries’s dividend payout ratio is currently 6.69%.

Institutional Trading of Friedman Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Gendell Jeffrey L boosted its position in shares of Friedman Industries by 16.4% in the 1st quarter. Gendell Jeffrey L now owns 435,666 shares of the company’s stock valued at $8,164,000 after purchasing an additional 61,339 shares during the period. LSV Asset Management purchased a new stake in Friedman Industries during the second quarter valued at about $343,000. O Shaughnessy Asset Management LLC acquired a new position in shares of Friedman Industries in the first quarter worth about $425,000. Hillsdale Investment Management Inc. acquired a new position in shares of Friedman Industries in the first quarter worth about $131,000. Finally, Janney Montgomery Scott LLC increased its position in shares of Friedman Industries by 17.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 29,667 shares of the company’s stock worth $459,000 after acquiring an additional 4,377 shares in the last quarter. 33.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Friedman Industries from a “buy” rating to a “hold” rating in a report on Tuesday, September 17th.

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.