Corient Private Wealth LLC Purchases New Holdings in Friedman Industries, Incorporated (NYSEAMERICAN:FRD)

Corient Private Wealth LLC acquired a new position in Friedman Industries, Incorporated (NYSEAMERICAN:FRD) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 26,257 shares of the company’s stock, valued at approximately $401,000.

Several other large investors have also modified their holdings of the business. Geode Capital Management LLC grew its holdings in shares of Friedman Industries by 11.2% in the third quarter. Geode Capital Management LLC now owns 70,727 shares of the company’s stock worth $1,133,000 after purchasing an additional 7,141 shares during the last quarter. Inspire Advisors LLC purchased a new stake in Friedman Industries in the 4th quarter valued at about $422,000. Empowered Funds LLC boosted its position in Friedman Industries by 5.0% in the 4th quarter. Empowered Funds LLC now owns 36,629 shares of the company’s stock valued at $560,000 after buying an additional 1,751 shares during the period. Jones Financial Companies Lllp bought a new position in Friedman Industries in the 4th quarter worth about $28,000. Finally, Callahan Advisors LLC increased its position in shares of Friedman Industries by 3.3% during the fourth quarter. Callahan Advisors LLC now owns 53,846 shares of the company’s stock worth $823,000 after acquiring an additional 1,712 shares during the period. Hedge funds and other institutional investors own 33.26% of the company’s stock.

Insider Activity

In related news, CEO Mike J. Taylor bought 1,980 shares of the company’s stock in a transaction on Monday, January 13th. The shares were acquired at an average price of $14.50 per share, with a total value of $28,710.00. Following the transaction, the chief executive officer now owns 166,134 shares of the company’s stock, valued at $2,408,943. The trade was a 1.21 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Tim Scott Stevenson purchased 1,500 shares of the business’s stock in a transaction dated Tuesday, February 11th. The stock was bought at an average price of $17.23 per share, for a total transaction of $25,845.00. Following the completion of the acquisition, the director now directly owns 28,675 shares in the company, valued at approximately $494,070.25. This trade represents a 5.52 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 7,180 shares of company stock worth $106,922. Company insiders own 4.60% of the company’s stock.

Friedman Industries Stock Down 3.9 %

Friedman Industries stock opened at $15.08 on Friday. Friedman Industries, Incorporated has a fifty-two week low of $13.40 and a fifty-two week high of $19.52. The company has a market cap of $105.11 million, a PE ratio of 18.62 and a beta of 1.40.

Friedman Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, April 25th will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend is Friday, April 25th. Friedman Industries’s payout ratio is 19.75%.

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.