Key Points
- CEO Mike Taylor purchased 1,000 shares on November 21 at an average price of $19.28 for $19,280, bringing his direct holdings to 220,066 shares (≈$4.24M) and raising his stake by 0.46%.
- Friedman reported $0.32 EPS on $152.38M in quarterly revenue, with a net margin of 1.84% and ROE of 6.5%; it also pays a quarterly dividend of $0.04 ($0.16 annualized) for a yield of 0.8%.
- FRD opened at $19.73, trades in a 12‑month range of $12.24–$23.50, has a market cap of $140.3M and a PE of 16.44; institutional investors own 33.26% and analysts’ consensus rating is "Buy".
Friedman Industries Inc. (NASDAQ:FRD - Get Free Report) CEO Mike Taylor bought 1,000 shares of the stock in a transaction on Friday, November 21st. The shares were acquired at an average cost of $19.28 per share, for a total transaction of $19,280.00. Following the acquisition, the chief executive officer directly owned 220,066 shares in the company, valued at approximately $4,242,872.48. This trade represents a 0.46% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Friedman Industries Stock Up 2.2%
FRD stock opened at $19.73 on Wednesday. The stock has a 50-day simple moving average of $21.00 and a two-hundred day simple moving average of $18.51. Friedman Industries Inc. has a twelve month low of $12.24 and a twelve month high of $23.50. The firm has a market capitalization of $140.32 million, a PE ratio of 16.44 and a beta of 1.49.
Friedman Industries (NASDAQ:FRD - Get Free Report) last released its quarterly earnings results on Monday, November 10th. The company reported $0.32 earnings per share for the quarter. The firm had revenue of $152.38 million for the quarter. Friedman Industries had a net margin of 1.84% and a return on equity of 6.50%.
Friedman Industries Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Friday, October 24th were given a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Friday, October 24th. Friedman Industries's dividend payout ratio is 9.88%.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of FRD. Truffle Hound Capital LLC purchased a new stake in Friedman Industries during the 1st quarter valued at about $1,562,000. State of Wyoming bought a new stake in Friedman Industries in the first quarter valued at approximately $45,000. Mink Brook Asset Management LLC boosted its stake in shares of Friedman Industries by 0.5% during the first quarter. Mink Brook Asset Management LLC now owns 189,616 shares of the company's stock valued at $2,823,000 after purchasing an additional 952 shares during the period. Ritholtz Wealth Management grew its holdings in shares of Friedman Industries by 92.3% in the second quarter. Ritholtz Wealth Management now owns 21,363 shares of the company's stock worth $354,000 after purchasing an additional 10,253 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey bought a new position in shares of Friedman Industries in the second quarter worth approximately $29,000. Hedge funds and other institutional investors own 33.26% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on the stock. Wall Street Zen downgraded shares of Friedman Industries from a "strong-buy" rating to a "buy" rating in a research note on Saturday, November 15th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Friedman Industries in a report on Monday. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy".
Get Our Latest Report on FRD
About Friedman Industries
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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.
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