Max Alan Reichenthal Buys 2,000 Shares of Friedman Industries, Incorporated (NYSEAMERICAN:FRD)

Friedman Industries, Incorporated (NYSEAMERICAN:FRD – Get Your Free Report ) Director Max Alan Reichenthal bought 2,000 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were bought at an average cost of $14.89 per share, with a total value of $29,780.00. Following the completion of the acquisition, the director now directly owns 28,761 shares in the company, valued at $428,251.29. The acquisition was disclosed in a filing with the SEC, which is available via this hyperlink.

Friedman Industries Price Performance

Shares of Friedman Industries stock opened at $14.76 on Thursday. Friedman Industries, Incorporated has a 52-week low of $9.50 and a 52-week high of $19.52. The company has a market cap of $102.88 million, a P/E ratio of 6.18 and a beta of 1.37.

Friedman Industries (NYSEAMERICAN:FRD – Get Your Free Report ) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.37 earnings per share (EPS) for the quarter. The business had revenue of $114.55 million during the quarter. Friedman Industries had a net margin of 3.36% and a return on equity of 13.86%.

Friedman Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Friday, July 26th were given a dividend of $0.04 per share. The ex-dividend date was Friday, July 26. This represents an annualized dividend of $0.16 and a dividend yield of 1.08%. Friedman Industries’ dividend payout ratio is currently 6.69%.

Changes in Analyst Ratings

Separately, StockNews.com cut Friedman Industries from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 11th.

Get the latest stock report on Friedman Industries

Institutional inputs and outputs

A number of hedge funds have recently made changes to their positions in FRD. Acadian Asset Management LLC raised its position in shares of Friedman Industries by 1.0% in the second quarter. Acadian Asset Management LLC now owns 135,794 shares of the company’s stock valued at $2,048,000 after purchasing an additional 1,337 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Friedman Industries by 0.3% during the second quarter. Dimensional Fund Advisors LP now owns 561,702 shares of the company’s stock worth $8,482,000 after buying an additional 1,591 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Friedman Industries by 0.6% in the second quarter. Renaissance Technologies LLC now owns 361,882 shares of the company’s stock worth $5,464,000 after buying an additional 2,245 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of Friedman Industries by 8.0% in 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 boosted its position in shares of 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 buying an additional 2,859 shares during the period. Hedge funds and other institutional investors own 33.26% of the company’s shares.

About Friedman Industries

(Get a free report)

Friedman Industries, Incorporated is engaged in steel processing, pipe fabrication and processing, and steel and pipe distribution businesses in the United States. It operates in two segments, Coil and Tubular. The Coil segment is involved in the conversion of steel coils into flat sheets and steel plates cut to customer specifications and the resale of steel coils.

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