Insider Buying: Friedman Industries, Incorporated (NYSEAMERICAN:FRD) CEO Buys $28,710.00 in Stock

Friedman Industries, Incorporated (NYSEAMERICAN:FRD) CEO Mike J. Taylor acquired 1,980 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were bought at an average price of $14.50 per share, for a total transaction of $28,710.00. Following the acquisition, the chief executive officer now directly owns 166,134 shares of the company’s stock, valued at approximately $2,408,943. This trade represents a 1.21 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

Friedman Industries Trading Up 0.3 %

Shares of 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 firm has a market capitalization of $97.23 million, a P/E ratio of 12.24 and a beta of 1.41.

Friedman Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 17th will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend is Friday, January 17th. Friedman Industries’s payout ratio is presently 14.04%.

Institutional Investors Weigh In On Friedman Industries

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC raised its position in Friedman Industries by 11.2% in the 3rd quarter. Geode Capital Management LLC now owns 70,727 shares of the company’s stock valued at $1,133,000 after buying an additional 7,141 shares during the last quarter. Empowered Funds LLC grew its stake in shares of Friedman Industries by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 34,878 shares of the company’s stock worth $559,000 after acquiring an additional 1,742 shares in the last quarter. De Lisle Partners LLP raised its holdings in shares of Friedman Industries by 2.9% in the third quarter. De Lisle Partners LLP now owns 419,816 shares of the company’s stock valued at $6,644,000 after purchasing an additional 11,689 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Friedman Industries by 0.6% during 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 in the last quarter. Finally, Dimensional Fund Advisors LP boosted 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 purchasing an additional 1,591 shares during the last quarter. Institutional investors and hedge funds own 33.26% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.