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

Friedman Industries, Incorporated (NYSEAMERICAN:FRD) declared a quarterly dividend on Thursday, December 5th,Wall Street Journal reports. Stockholders of record on Friday, January 17th will be paid a dividend of 0.04 per share on Friday, February 14th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date is Friday, January 17th.

Friedman Industries Trading Up 3.1 %

NYSEAMERICAN:FRD opened at $17.49 on Friday. The company has a market cap of $121.87 million, a price-to-earnings ratio of 14.28 and a beta of 1.41. Friedman Industries has a twelve month low of $12.21 and a twelve month high of $19.52.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other news, Director Max Alan Reichenthal acquired 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was purchased at an average price of $14.00 per share, with a total value of $28,000.00. Following the completion of the acquisition, the director now owns 30,761 shares of the company’s stock, valued at $430,654. This trade represents a 6.95 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last ninety days, insiders purchased 7,065 shares of company stock worth $98,156. Company 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.