Friedman Industries (NASDAQ:FRD) CEO Mike Taylor Buys 1,000 Shares
Friedman Industries CEO Mike Taylor bought 1,000 shares at $19.28 each, totaling $19,280. This increased his ownership by 0.46%, now holding 220,066 shares valued at $4,242,872.48. The purchase was disclosed in an SEC filing. The stock traded at $19.84, with a market cap of $141.10 million. Recent earnings showed $0.32 per share and $152.38 million in revenue. Institutional investors own 33.26% of the stock. Analysts rate the stock as "Buy."
Friedman Industries Inc. (NASDAQ:FRD - Get Free Report) CEO Mike Taylor purchased 1,000 shares of the firm's stock in a transaction dated Friday, November 21st. The stock was acquired at an average cost of $19.28 per share, for a total transaction of $19,280.00. Following the purchase, the chief executive officer owned 220,066 shares in the company, valued at approximately $4,242,872.48. The trade was a 0.46% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.
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Friedman Industries Stock Performance
Shares of NASDAQ FRD traded up $0.54 during trading on Tuesday, reaching $19.84. The stock had a trading volume of 14,747 shares, compared to its average volume of 23,846. The business's 50-day moving average price is $21.05 and its 200-day moving average price is $18.49. Friedman Industries Inc. has a fifty-two week low of $12.24 and a fifty-two week high of $23.50. The company has a market cap of $141.10 million, a P/E ratio of 16.53 and a beta of 1.49.
Friedman Industries (NASDAQ:FRD - Get Free Report) last announced its 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Friday, October 24th were paid a $0.04 dividend. The ex-dividend date was Friday, October 24th. This represents a $0.16 dividend on an annualized basis and a yield of 0.8%. Friedman Industries's payout ratio is currently 9.88%.
Hedge Funds Weigh In On Friedman Industries
Large investors have recently made changes to their positions in the business. Truffle Hound Capital LLC acquired a new stake in shares of Friedman Industries during the 1st quarter valued at $1,562,000. State of Wyoming acquired a new stake in shares of Friedman Industries during the 1st quarter valued at about $45,000. Mink Brook Asset Management LLC increased its stake in shares of Friedman Industries by 0.5% during the 1st quarter. Mink Brook Asset Management LLC now owns 189,616 shares of the company's stock worth $2,823,000 after purchasing an additional 952 shares during the last quarter. Ritholtz Wealth Management boosted its holdings in 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 in the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new position in shares of Friedman Industries during the 3rd quarter valued at about $123,000. Institutional investors own 33.26% of the company's stock.
Analysts Set New Price Targets
FRD has been the subject of a number of research reports. Wall Street Zen downgraded shares of Friedman Industries from a "strong-buy" rating to a "buy" rating in a research report on Saturday, November 15th. Weiss Ratings reissued a "buy (b)" rating on shares of Friedman Industries in a research report on Monday. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Friedman Industries has a consensus rating of "Buy".
Read Our Latest Research Report on FRD
Friedman Industries Company Profile
(Get Free Report)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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