Friedman Industries, Incorporated (NYSEAMERICAN:FRD) CEO Acquires $31,157.64 in Stock

Friedman Industries, Incorporated (NYSEAMERICAN:FRD) CEO Mike J. Taylor bought 1,908 shares of the business’s stock in a transaction on Monday, June 17th. The stock was purchased at an average price of $16.33 per share, with a total value of $31,157.64. Following the completion of the transaction, the chief executive officer now directly owns 152,154 shares of the company’s stock, valued at $2,484,674.82. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.

Friedman Industries Price Performance

Shares of NYSEAMERICAN:FRD opened at $15.70 on Thursday. Friedman Industries, Incorporated has a one year low of $9.50 and a one year high of $19.52. The firm has a market cap of $109.43 million, a PE ratio of 6.57 and a beta of 1.34.

Institutional Investors Weigh In On Friedman Industries

Institutional investors and hedge funds have recently modified their holdings of the stock. AJOVista LLC acquired a new stake in shares of Friedman Industries during the 4th quarter valued at $49,000. Hillsdale Investment Management Inc. acquired a new stake in Friedman Industries during the 1st quarter valued at $131,000. O Shaughnessy Asset Management LLC acquired a new stake in Friedman Industries during the 1st quarter valued at $425,000. Janney Montgomery Scott LLC acquired a new stake in Friedman Industries during the 3rd quarter valued at $339,000. Finally, Empowered Funds LLC raised its stake in Friedman Industries by 8.0% during the 1st quarter. Empowered Funds LLC now owns 30,796 shares of the company’s stock valued at $577,000 after purchasing an additional 2,275 shares during the period. Institutional investors and hedge funds own 33.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Friedman Industries from a “buy” rating to a “strong-buy” rating in a research report on Wednesday.

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.