Insider Buying: Friedman Industries, Incorporated (NYSEAMERICAN:FRD) CEO Purchases $35,250.00 in Stock

Friedman Industries, Incorporated (NYSEAMERICAN:FRD) CEO Mike J. Taylor acquired 2,500 shares of the stock in a transaction on Wednesday, January 15th. The shares were acquired at an average price of $14.10 per share, for a total transaction of $35,250.00. Following the acquisition, the chief executive officer now owns 169,154 shares of the company’s stock, valued at approximately $2,385,071.40. The trade was a 1.50 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.

Friedman Industries Stock Performance

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

Friedman Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders 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 14.04%.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. De Lisle Partners LLP lifted its holdings in 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 during the period. Geode Capital Management LLC increased its position in shares of Friedman Industries by 11.2% during the 3rd quarter. Geode Capital Management LLC now owns 70,727 shares of the company’s stock valued at $1,133,000 after purchasing an additional 7,141 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Friedman Industries by 0.6% in the 2nd quarter. Renaissance Technologies LLC now owns 361,882 shares of the company’s stock worth $5,464,000 after buying an additional 2,245 shares during the last quarter. Empowered Funds LLC grew its position in Friedman Industries by 5.3% during the third quarter. Empowered Funds LLC now owns 34,878 shares of the company’s stock valued at $559,000 after buying an additional 1,742 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in Friedman Industries by 0.3% during the second quarter. Dimensional Fund Advisors LP now owns 561,702 shares of the company’s stock worth $8,482,000 after buying an additional 1,591 shares during the last quarter. 33.26% of the stock is owned by institutional investors.

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.