Mike J. Taylor Buys 2,000 Shares of Friedman Industries, Incorporated (NYSEAMERICAN:FRD) Stock

Friedman Industries, Incorporated (NYSEAMERICAN:FRD) CEO Mike J. Taylor purchased 2,000 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were bought at an average price of $13.50 per share, with a total value of $27,000.00. Following the purchase, the chief executive officer now directly owns 164,154 shares in the company, valued at approximately $2,216,079. The trade was a 1.23 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Friedman Industries Price Performance

NYSEAMERICAN FRD opened at $15.10 on Wednesday. The firm has a market capitalization of $105.25 million, a PE ratio of 12.97 and a beta of 1.38. Friedman Industries, Incorporated has a 1 year low of $11.15 and a 1 year high of $19.52.

Friedman Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, October 25th were paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend was Friday, October 25th. Friedman Industries’s payout ratio is 14.04%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised 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 and hedge funds have recently modified their holdings of the stock. LSV Asset Management purchased a new position in shares of Friedman Industries during the 2nd quarter valued at $343,000. O Shaughnessy Asset Management LLC bought a new stake in shares of Friedman Industries during the 1st quarter worth $425,000. De Lisle Partners LLP grew its position in Friedman Industries by 2.9% in 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. Geode Capital Management LLC raised its position in Friedman Industries by 11.2% during the third 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 in the last quarter. Finally, Callahan Advisors LLC lifted its stake in Friedman Industries by 8.6% during the second quarter. Callahan Advisors LLC now owns 54,131 shares of the company’s stock worth $817,000 after purchasing an additional 4,293 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.