Tim Scott Stevenson Acquires 1,500 Shares of Friedman Industries, Incorporated (NYSEAMERICAN:FRD) Stock

Friedman Industries, Incorporated (NYSEAMERICAN:FRD) Director Tim Scott Stevenson bought 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The stock was purchased at an average price of $17.23 per share, for a total transaction of $25,845.00. Following the transaction, the director now owns 28,675 shares of the company’s stock, valued at $494,070.25. The trade was a 5.52 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.

Friedman Industries Stock Performance

Shares of NYSEAMERICAN FRD opened at $16.96 on Thursday. The company has a market capitalization of $118.21 million, a P/E ratio of 14.88 and a beta of 1.40. Friedman Industries, Incorporated has a 52 week low of $13.40 and a 52 week high of $19.52.

Friedman Industries (NYSEAMERICAN:FRD) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.10) EPS for the quarter. Friedman Industries had a return on equity of 6.32% and a net margin of 1.71%. The company had revenue of $106.76 million during the quarter.

Friedman Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 17th will be given a $0.04 dividend. The ex-dividend date is Friday, January 17th. This represents a $0.16 annualized dividend and a yield of 0.94%. Friedman Industries’s dividend payout ratio is presently 14.04%.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Friedman Industries

Several hedge funds have recently bought and sold shares of FRD. Empowered Funds LLC boosted its position in 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 purchasing an additional 1,742 shares in the last quarter. De Lisle Partners LLP raised its stake in shares of Friedman Industries by 2.9% during the 3rd 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 during the period. Geode Capital Management LLC raised its stake in shares of Friedman Industries by 11.2% during the 3rd quarter. Geode Capital Management LLC now owns 70,727 shares of the company’s stock worth $1,133,000 after buying an additional 7,141 shares during the period. Callahan Advisors LLC raised its stake in shares of Friedman Industries by 3.3% during the 4th quarter. Callahan Advisors LLC now owns 53,846 shares of the company’s stock worth $823,000 after buying an additional 1,712 shares during the period. Finally, Jones Financial Companies Lllp acquired a new position in shares of Friedman Industries during the 4th quarter worth approximately $28,000. Hedge funds and other institutional investors own 33.26% 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.