Friedman Industries, Incorporated (NYSEAMERICAN:FRD) Plans $0.04 Quarterly Dividend

by · The Cerbat Gem

Friedman Industries, Incorporated (NYSEAMERICAN:FRD – Get Free Report) declared a quarterly dividend on Wednesday, March 19th, RTT News reports. Shareholders of record on Friday, April 25th will be paid a dividend of 0.04 per share on Friday, May 23rd. This represents a $0.16 dividend on an annualized basis and a yield of 0.93%.

Friedman Industries has raised its dividend payment by an average of 26.0% annually over the last three years.

Friedman Industries Trading Up 5.3 %

FRD traded up $0.87 during midday trading on Wednesday, reaching $17.19. 17,218 shares of the company were exchanged, compared to its average volume of 15,459. Friedman Industries has a one year low of $13.40 and a one year high of $19.52. The stock has a market cap of $119.81 million, a P/E ratio of 21.22 and a beta of 1.40.

Analyst Ratings Changes

Separately, StockNews.com upgraded Friedman Industries from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th.

View Our Latest Stock Analysis on FRD

Insider Transactions at Friedman Industries

In other Friedman Industries news, CEO Mike J. Taylor purchased 2,500 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were bought at an average price of $14.10 per share, with a total value of $35,250.00. Following the completion of the transaction, the chief executive officer now directly owns 169,154 shares in the company, valued at $2,385,071.40. This trade represents a 1.50 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Tim Scott Stevenson bought 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The stock was purchased at an average cost of $17.23 per share, for a total transaction of $25,845.00. Following the transaction, the director now owns 28,675 shares in the company, valued at $494,070.25. The trade was a 5.52 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 7,180 shares of company stock valued at $106,922 over the last 90 days. 4.60% of the stock is owned by company insiders.

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.

Featured Articles