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

Friedman Industries, Incorporated (NYSEAMERICAN:FRD) declared a quarterly dividend on Wednesday, September 18th, Wall Street Journal reports. Stockholders of record on Friday, October 25th will be paid a dividend of 0.04 per share on Friday, November 15th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend is Friday, October 25th.

Friedman Industries Trading Up 2.3 %

Shares of NYSEAMERICAN:FRD opened at $14.43 on Thursday. Friedman Industries has a 52 week low of $9.50 and a 52 week high of $19.52. The firm has a market cap of $100.58 million, a PE ratio of 8.39 and a beta of 1.37.

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

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Friedman Industries

In related news, Director Max Alan Reichenthal purchased 2,000 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were acquired at an average cost of $14.00 per share, with a total value of $28,000.00. Following the purchase, the director now directly owns 30,761 shares of the company’s stock, valued at approximately $430,654. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have acquired a total of 6,365 shares of company stock valued at $91,241 in the last 90 days. Corporate insiders own 4.60% 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.