Key Points
- CEO Mike Taylor bought 600 shares on Feb. 18 at $18.75 each for $11,250, raising his holdings to 222,166 shares (a 0.27% increase) valued at about $4.17 million.
- Shares traded down about 1% to $18.05 with a market cap of $128.3M and a P/E of 8.13; the company reported quarterly EPS of $0.43 on $167.97M in revenue and pays a $0.04 quarterly dividend (annualized $0.16, ~0.9% yield).
- Analysts have an average rating of "Buy", and institutional investors own roughly 33.26% of the stock with recent position increases from firms including BNP Paribas and JPMorgan.
Friedman Industries Inc. (NASDAQ:FRD - Get Free Report) CEO Mike Taylor bought 600 shares of the business's stock in a transaction dated Wednesday, February 18th. The shares were bought at an average cost of $18.75 per share, for a total transaction of $11,250.00. Following the completion of the transaction, the chief executive officer directly owned 222,166 shares of the company's stock, valued at $4,165,612.50. This trade represents a 0.27% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.
Friedman Industries Trading Down 1.0%
Shares of NASDAQ:FRD traded down $0.19 during midday trading on Friday, reaching $18.05. The company had a trading volume of 44,944 shares, compared to its average volume of 23,245. The company has a fifty day simple moving average of $20.00 and a two-hundred day simple moving average of $20.08. The firm has a market cap of $128.34 million, a price-to-earnings ratio of 8.13 and a beta of 1.55. Friedman Industries Inc. has a 1-year low of $12.24 and a 1-year high of $24.37. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.97 and a current ratio of 3.59.
Friedman Industries (NASDAQ:FRD - Get Free Report) last posted its quarterly earnings data on Monday, February 9th. The company reported $0.43 EPS for the quarter. Friedman Industries had a net margin of 2.68% and a return on equity of 11.36%. The company had revenue of $167.97 million during the quarter.
Friedman Industries Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Friday, January 16th were paid a $0.04 dividend. The ex-dividend date of this dividend was Friday, January 16th. This represents a $0.16 dividend on an annualized basis and a yield of 0.9%. Friedman Industries's dividend payout ratio (DPR) is currently 7.21%.
Analyst Ratings Changes
A number of research firms have recently issued reports on FRD. Weiss Ratings restated a "buy (b-)" rating on shares of Friedman Industries in a report on Monday, December 29th. Wall Street Zen cut shares of Friedman Industries from a "strong-buy" rating to a "buy" rating in a report on Saturday, January 31st. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Friedman Industries has an average rating of "Buy".
Get Our Latest Report on Friedman Industries
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of FRD. Police & Firemen s Retirement System of New Jersey acquired a new position in Friedman Industries in the second quarter worth approximately $29,000. BNP Paribas Financial Markets lifted its stake in shares of Friedman Industries by 50.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,712 shares of the company's stock valued at $37,000 after purchasing an additional 576 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Friedman Industries in the second quarter worth $60,000. New York State Common Retirement Fund bought a new position in Friedman Industries during the second quarter valued at about $103,000. Finally, JPMorgan Chase & Co. lifted its position in shares of Friedman Industries by 760.0% in the second quarter. JPMorgan Chase & Co. now owns 6,364 shares of the company's stock worth $105,000 after buying an additional 5,624 shares during the last quarter. Hedge funds and other institutional investors own 33.26% of the company's stock.
About Friedman Industries
(
Get Free Report)
Friedman Industries, Inc is a specialized manufacturer of high-quality steel grating products for industrial and commercial applications. The company's core offerings include industrial bar gratings, stair treads, trench covers, checkered plates and lighting frames. These products are designed to meet stringent safety and durability requirements in sectors such as oil and gas, power generation, wastewater treatment and infrastructure development.
Friedman Industries serves a broad customer base across North America, providing both standard and custom solutions through its manufacturing facilities in Pennsylvania and California.
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