Friedman Industries, Incorporated (NYSEAMERICAN:FRD – Get Free Report) Director Max Alan Reichenthal bought 2,000 shares of the company’s stock in a transaction that occurred on Friday, August 16. The shares were purchased at an average price of $14.89 per share, for a total value of $29,780.00. Following the completion of the purchase, the Director now directly owns 28,761 shares of the company’s stock, valued at $428,251.29. The purchase was disclosed in a document filed with the SEC, available at this hyperlink.

Friedman Industries Price Development

Shares of Friedman Industries opened at $14.76 on Thursday. Friedman Industries, Incorporated has a 52-week low of $9.50 and a 52-week high of $19.52. The company has a market cap of $102.88 million, a price/earnings ratio of 6.18 and a beta of 1.37.

Friedman Industries (NYSEAMERICAN:FRD – Get Free Report) last released its quarterly earnings results on Thursday, August 8. The company reported $0.37 earnings per share (EPS) for the quarter. The company had revenue of $114.55 million during the quarter. Friedman Industries had a net margin of 3.36% and a return on equity of 13.86%.

Friedman Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, July 26th were paid a dividend of $0.04 per share. The ex-dividend date was Friday, July 26th. This represents an annualized dividend of $0.16 and a dividend yield of 1.08%. Friedman Industries’ dividend payout ratio is currently 6.69%.

Changes in analyst ratings

Separately, StockNews.com downgraded Friedman Industries from a “strong buy” rating to a “buy” rating in a research report on Sunday, August 11.

Get our latest stock report on Friedman Industries

Institutional inflow and outflow

A number of hedge funds have recently made changes to their positions in FRD. Acadian Asset Management LLC increased its position in shares of Friedman Industries by 1.0% in the 2nd quarter. Acadian Asset Management LLC now owns 135,794 shares of the company’s stock worth $2,048,000 after purchasing an additional 1,337 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Friedman Industries by 0.3% in 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 in the last quarter. Renaissance Technologies LLC increased its position 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 worth $5,464,000 after purchasing an additional 2,245 shares in the last quarter. Empowered Funds LLC increased its holdings in shares of Friedman Industries by 8.0% in the first quarter. Empowered Funds LLC now owns 30,796 shares of the company’s stock worth $577,000 after purchasing an additional 2,275 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its position in shares of Friedman Industries by 9.6% in the first quarter. Janney Montgomery Scott LLC now owns 32,526 shares of the company’s stock worth $610,000 after purchasing an additional 2,859 shares during the period. Hedge funds and other institutional investors own 33.26% of the company’s stock.

About Friedman Industries

(Get free report)

Friedman Industries, Incorporated is engaged in steel processing, pipe manufacturing and processing, and steel and pipe distribution businesses in the United States. The company operates in two segments, Coil and Tubular. The Coil segment is engaged in the conversion of steel coils into flat sheet and plate, cut to customer specifications, and the resale of steel coils.

Featured Stories

Get daily news and reviews for Friedman Industries – Enter your email address below to receive a concise daily summary of the latest news and analyst ratings for Friedman Industries and related companies with MarketBeat.com’s FREE daily email newsletter.