Friedman Industries, Incorporated (NYSEAMERICAN:FRD) Director Acquires $28,540.00 in Stock

Friedman Industries, Incorporated (NYSEAMERICAN:FRD) Director Joel Spira acquired 2,000 shares of the stock in a transaction on Tuesday, June 25th. The shares were acquired at an average price of $14.27 per share, for a total transaction of $28,540.00. Following the acquisition, the director now owns 16,504 shares of the company’s stock, valued at approximately $235,512.08. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Friedman Industries Price Performance

Shares of Friedman Industries stock opened at $15.10 on Friday. The company has a market capitalization of $105.25 million, a PE ratio of 6.32 and a beta of 1.34. Friedman Industries, Incorporated has a 52 week low of $9.50 and a 52 week high of $19.52.

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

Friedman Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Investors of record on Friday, July 26th will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 1.06%. The ex-dividend date is Friday, July 26th. Friedman Industries’s dividend payout ratio (DPR) is presently 6.69%.

Hedge Funds Weigh In On Friedman Industries

Several hedge funds have recently modified their holdings of FRD. Gendell Jeffrey L grew its position in Friedman Industries by 16.4% during the first quarter. Gendell Jeffrey L now owns 435,666 shares of the company’s stock valued at $8,164,000 after buying an additional 61,339 shares during the period. O Shaughnessy Asset Management LLC bought a new position in shares of Friedman Industries during the 1st quarter valued at approximately $425,000. Hillsdale Investment Management Inc. purchased a new stake in shares of Friedman Industries during the 1st quarter worth approximately $131,000. Empowered Funds LLC raised its holdings in shares of Friedman Industries by 8.0% in the 1st quarter. Empowered Funds LLC now owns 30,796 shares of the company’s stock worth $577,000 after purchasing an additional 2,275 shares during the period. Finally, Janney Montgomery Scott LLC lifted its stake in Friedman Industries by 9.6% in the first quarter. Janney Montgomery Scott LLC now owns 32,526 shares of the company’s stock valued at $610,000 after purchasing an additional 2,859 shares during the last quarter. Institutional investors own 33.26% of the company’s stock.

Analysts Set New Price Targets

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

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.