Friedman Industries, Incorporated (NYSEAMERICAN:FRD – Get Free Report) Director Max Alan Reichenthal acquired 2,000 shares of Friedman Industries stock in a transaction that occurred on Wednesday, September 18th. The stock was acquired at an average cost of $14.00 per share, with a total value of $28,000.00. Following the purchase, the director now owns 30,761 shares in the company, valued at approximately $430,654. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
Max Alan Reichenthal also recently made the following trade(s):
- On Friday, August 16th, Max Alan Reichenthal bought 2,000 shares of Friedman Industries stock. The shares were bought at an average price of $14.89 per share, for a total transaction of $29,780.00.
Friedman Industries Stock Performance
Shares of FRD stock opened at $14.26 on Friday. Friedman Industries, Incorporated has a 12 month low of $9.50 and a 12 month high of $19.52. The company has a market cap of $99.39 million, a price-to-earnings ratio of 5.97 and a beta of 1.37.
Friedman Industries Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 25th will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date is Friday, October 25th. Friedman Industries’s dividend payout ratio (DPR) is currently 6.69%.
Wall Street Analyst Weigh In
Separately, StockNews.com lowered Friedman Industries from a “buy” rating to a “hold” rating in a report on Tuesday.
Check Out Our Latest Research Report on Friedman Industries
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the business. Hillsdale Investment Management Inc. bought a new position in shares of Friedman Industries during the 1st quarter worth about $131,000. O Shaughnessy Asset Management LLC acquired a new position in Friedman Industries in the 1st quarter valued at approximately $425,000. LSV Asset Management acquired a new position in Friedman Industries in the 2nd quarter valued at approximately $343,000. Janney Montgomery Scott LLC lifted its position in shares of Friedman Industries by 17.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 29,667 shares of the company’s stock worth $459,000 after acquiring an additional 4,377 shares during the period. Finally, Empowered Funds LLC grew its holdings in shares of Friedman Industries by 8.0% during 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 in the last quarter. 33.26% of the stock is owned by institutional investors.
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.
Further Reading
- Five stocks we like better than Friedman Industries
- Options Trading – Understanding Strike Price
- 3 Dividend-Yielding Stocks Too Cheap to Pass Up
- How to Evaluate a Stock Before BuyingÂ
- Triple Witching: The Market’s Quarterly Rollercoaster
- High Flyers: 3 Natural Gas Stocks for March 2022
- 4 Stocks Set to Benefit from Recent Interest Rate Cuts
Receive News & Ratings for Friedman Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Friedman Industries and related companies with MarketBeat.com's FREE daily email newsletter.