Mike J. Taylor Acquires 1,980 Shares of Friedman Industries, Incorporated (NYSEAMERICAN:FRD) Stock

Friedman Industries, Incorporated (NYSEAMERICAN:FRD) CEO Mike J. Taylor purchased 1,980 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The stock was bought at an average cost of $14.50 per share, for a total transaction of $28,710.00. Following the purchase, the chief executive officer now directly owns 166,134 shares in the company, valued at $2,408,943. This trade represents a 1.21 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Friedman Industries Stock Down 1.8 %

NYSEAMERICAN:FRD opened at $13.95 on Friday. Friedman Industries, Incorporated has a 12 month low of $13.40 and a 12 month high of $19.52. The company has a market cap of $97.23 million, a price-to-earnings ratio of 12.24 and a beta of 1.41.

Friedman Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 17th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 1.15%. The ex-dividend date is Friday, January 17th. Friedman Industries’s dividend payout ratio is currently 14.04%.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Empowered Funds LLC raised its holdings in Friedman Industries by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 34,878 shares of the company’s stock valued at $559,000 after acquiring an additional 1,742 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Friedman Industries by 11.2% in 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. Renaissance Technologies LLC increased its holdings in shares of Friedman Industries by 0.6% in the second quarter. Renaissance Technologies LLC now owns 361,882 shares of the company’s stock valued at $5,464,000 after purchasing an additional 2,245 shares during the last quarter. De Lisle Partners LLP lifted its position 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 buying an additional 11,689 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position 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 in the last quarter. Hedge funds and other institutional investors own 33.26% of the company’s stock.

About Friedman Industries

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.