Callahan Advisors LLC Has $835,000 Stock Holdings in Friedman Industries, Incorporated (NYSEAMERICAN:FRD)

Callahan Advisors LLC trimmed its stake in Friedman Industries, Incorporated (NYSEAMERICAN:FRD) by 3.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 52,134 shares of the company’s stock after selling 1,997 shares during the quarter. Callahan Advisors LLC owned about 0.75% of Friedman Industries worth $835,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Hillsdale Investment Management Inc. acquired a new position in shares of Friedman Industries during the first quarter valued at about $131,000. LSV Asset Management acquired a new position in shares of Friedman Industries during the second quarter valued at about $343,000. O Shaughnessy Asset Management LLC acquired a new position in shares of Friedman Industries during the first quarter valued at about $425,000. Empowered Funds LLC grew its holdings in shares of Friedman Industries by 8.0% during the first quarter. Empowered Funds LLC now owns 30,796 shares of the company’s stock valued at $577,000 after buying an additional 2,275 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its holdings in shares of Friedman Industries by 9.6% during the first quarter. Janney Montgomery Scott LLC now owns 32,526 shares of the company’s stock valued at $610,000 after buying an additional 2,859 shares during the last quarter. 33.26% of the stock is currently owned by institutional investors and hedge funds.

Friedman Industries Stock Performance

Shares of FRD stock opened at $14.14 on Wednesday. The stock has a market capitalization of $98.56 million, a price-to-earnings ratio of 8.22 and a beta of 1.38. Friedman Industries, Incorporated has a 52 week low of $10.04 and a 52 week high of $19.52.

Friedman Industries (NYSEAMERICAN:FRD) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.37 earnings per share (EPS) for the quarter. Friedman Industries had a net margin of 2.48% and a return on equity of 9.65%. The company had revenue of $114.55 million for the quarter.

Friedman Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, October 25th will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Friday, October 25th. This represents a $0.16 annualized dividend and a yield of 1.13%. Friedman Industries’s dividend payout ratio is currently 9.30%.

Insider Activity at Friedman Industries

In other news, Director Max Alan Reichenthal acquired 2,000 shares of Friedman Industries stock in a transaction that occurred on Wednesday, September 18th. The stock was bought at an average price of $14.00 per share, with a total value of $28,000.00. Following the completion of the purchase, the director now owns 30,761 shares in the company, valued at approximately $430,654. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Over the last 90 days, insiders bought 6,365 shares of company stock valued at $91,241. Corporate insiders own 4.60% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Friedman Industries from a “hold” rating to a “buy” rating in a research report on Monday, October 21st.

Friedman Industries 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.