Friedman Industries, Incorporated (FRD) To Go Ex-Dividend on January 17th

Friedman Industries, Incorporated (NYSEAMERICAN:FRD) announced a quarterly dividend on Tuesday, December 3rd,Wall Street Journal reports. Shareholders of record on Friday, January 17th will be given a dividend of 0.04 per share on Friday, February 14th. This represents a $0.16 annualized dividend and a yield of 1.15%. The ex-dividend date is Friday, January 17th.

Friedman Industries has raised its dividend payment by an average of 20.5% per year over the last three years.

Friedman Industries Trading Down 3.7 %

NYSEAMERICAN:FRD opened at $13.96 on Wednesday. Friedman Industries has a 12-month low of $13.40 and a 12-month high of $19.52. The company has a market capitalization of $97.30 million, a PE ratio of 12.25 and a beta of 1.41.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other news, CEO Mike J. Taylor bought 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were purchased at an average price of $13.50 per share, for a total transaction of $27,000.00. Following the completion of the transaction, the chief executive officer now owns 164,154 shares in the company, valued at $2,216,079. The trade was a 1.23 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 4.60% of the company’s stock.

About Friedman Industries

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.