Max Alan Reichenthal Acquires 2,000 Shares of Friedman Industries, Incorporated (NYSEAMERICAN:FRD) Stock

Friedman Industries, Incorporated (NYSEAMERICAN:FRD) Director Max Alan Reichenthal bought 2,000 shares of the company’s stock in a transaction dated Wednesday, September 18th. The stock was bought at an average cost of $14.00 per share, with a total value of $28,000.00. Following the acquisition, the director now directly owns 30,761 shares of the company’s stock, valued at approximately $430,654. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Max Alan Reichenthal also recently made the following trade(s):

• On Friday, August 16th, Max Alan Reichenthal acquired 2,000 shares of Friedman Industries stock. The shares were bought at an average price of $14.89 per share, with a total value of $29,780.00.

Friedman Industries Stock Performance

Shares of FRD stock opened at $15.03 on Friday. Friedman Industries, Incorporated has a twelve month low of $9.50 and a twelve month high of $19.52. The firm has a market cap of $104.76 million, a P/E ratio of 6.29 and a beta of 1.37.

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

Friedman Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 25th will be given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 1.06%. The ex-dividend date is Friday, October 25th. Friedman Industries’s dividend payout ratio (DPR) is currently 6.69%.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Friedman Industries

Hedge funds have recently modified their holdings of the business. Acadian Asset Management LLC boosted its holdings in Friedman Industries by 1.0% in the second quarter. Acadian Asset Management LLC now owns 135,794 shares of the company’s stock valued at $2,048,000 after acquiring an additional 1,337 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Friedman Industries by 0.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 561,702 shares of the company’s stock valued at $8,482,000 after purchasing an additional 1,591 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Friedman Industries by 0.6% in the 2nd 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. Empowered Funds LLC increased its position in shares of Friedman Industries by 8.0% during the first quarter. Empowered Funds LLC now owns 30,796 shares of the company’s stock worth $577,000 after buying an additional 2,275 shares during the period. Finally, Janney Montgomery Scott LLC raised its stake in Friedman Industries by 9.6% during the first quarter. Janney Montgomery Scott LLC now owns 32,526 shares of the company’s stock worth $610,000 after buying an additional 2,859 shares during the last quarter. Institutional investors and hedge funds 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.