Friedman Industries, Incorporated to Issue Quarterly Dividend of $0.04 (NYSEAMERICAN:FRD)

Friedman Industries, Incorporated (NYSEAMERICAN:FRD) declared a quarterly dividend on Wednesday, March 19th, RTT News reports. Investors of record on Friday, April 25th will be paid a dividend of 0.04 per share on Friday, May 23rd. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.93%.

Friedman Industries has raised its dividend by an average of 26.0% per year over the last three years.

Friedman Industries Price Performance

Friedman Industries stock traded up $0.87 during mid-day trading on Wednesday, hitting $17.19. 17,218 shares of the company were exchanged, compared to its average volume of 15,459. Friedman Industries has a 1-year low of $13.40 and a 1-year high of $19.52. The firm has a market capitalization of $119.81 million, a P/E ratio of 21.22 and a beta of 1.40.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other news, Director Tim Scott Stevenson purchased 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The shares were acquired at an average price of $17.23 per share, for a total transaction of $25,845.00. Following the completion of the acquisition, the director now directly owns 28,675 shares in the company, valued at approximately $494,070.25. The trade was a 5.52 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mike J. Taylor purchased 1,980 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The stock was purchased at an average price of $14.50 per share, for a total transaction of $28,710.00. Following the acquisition, the chief executive officer now owns 166,134 shares of the company’s stock, valued at $2,408,943. The trade was a 1.21 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 7,180 shares of company stock worth $106,922. 4.60% of the stock is owned by corporate insiders.

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.