Friedman Industries, Incorporated (NYSEAMERICAN:FRD) to Issue $0.04 Quarterly Dividend

Friedman Industries, Incorporated (NYSEAMERICAN:FRD) declared a quarterly dividend on Wednesday, June 26th, NASDAQ reports. Investors of record on Friday, July 26th will be paid a dividend of 0.04 per share on Friday, August 16th. This represents a $0.16 annualized dividend and a dividend yield of 1.02%. The ex-dividend date is Friday, July 26th.

Friedman Industries Price Performance

Shares of Friedman Industries stock traded up $0.13 on Thursday, reaching $15.72. The company’s stock had a trading volume of 13,426 shares, compared to its average volume of 18,777. The stock has a market capitalization of $109.57 million, a PE ratio of 6.58 and a beta of 1.34. Friedman Industries has a 52-week low of $9.50 and a 52-week high of $19.52.

Friedman Industries (NYSEAMERICAN:FRD) last issued its quarterly earnings results on Tuesday, June 11th. The company reported $0.71 earnings per share for the quarter. Friedman Industries had a net margin of 3.36% and a return on equity of 13.86%. The firm had revenue of $132.23 million for the quarter.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Friedman Industries from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 19th.

Insiders Place Their Bets

In related news, CEO Mike J. Taylor purchased 1,908 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were purchased at an average price of $16.33 per share, with a total value of $31,157.64. Following the completion of the acquisition, the chief executive officer now directly owns 152,154 shares in the company, valued at approximately $2,484,674.82. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Joel Spira acquired 2,000 shares of the business’s stock in a transaction on Tuesday, June 25th. The stock was bought at an average price of $14.27 per share, for a total transaction of $28,540.00. Following the transaction, the director now owns 16,504 shares in the company, valued at $235,512.08. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mike J. Taylor bought 1,908 shares of the stock in a transaction dated Monday, June 17th. The stock was purchased at an average cost of $16.33 per share, for a total transaction of $31,157.64. Following the acquisition, the chief executive officer now owns 152,154 shares of the company’s stock, valued at $2,484,674.82. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 8,908 shares of company stock valued at $142,398. 3.80% of the stock is currently owned by insiders.

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.