O Shaughnessy Asset Management LLC Sells 1,965 Shares of Friedman Industries, Incorporated (NYSEAMERICAN:FRD)

O Shaughnessy Asset Management LLC decreased its stake in shares of Friedman Industries, Incorporated (NYSEAMERICAN:FRD) by 7.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,443 shares of the company’s stock after selling 1,965 shares during the quarter. O Shaughnessy Asset Management LLC owned about 0.35% of Friedman Industries worth $374,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. 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 valued at $823,000 after acquiring an additional 1,712 shares in the last quarter. Empowered Funds LLC boosted its stake in Friedman Industries by 5.0% during the 4th quarter. Empowered Funds LLC now owns 36,629 shares of the company’s stock valued at $560,000 after purchasing an additional 1,751 shares during the last quarter. Jones Financial Companies Lllp bought a new stake in shares of Friedman Industries in the 4th quarter worth $28,000. Geode Capital Management LLC raised its stake 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. Finally, Corient Private Wealth LLC bought a new position in shares of Friedman Industries during the fourth quarter valued at $401,000. 33.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Friedman Industries from a “buy” rating to a “hold” rating in a research report on Wednesday.

Insider Activity

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

Friedman Industries Stock Up 2.4 %

Shares of FRD stock opened at $15.50 on Friday. Friedman Industries, Incorporated has a 1 year low of $12.24 and a 1 year high of $19.52. The firm has a market cap of $108.04 million, a PE ratio of 19.14 and a beta of 1.40.

Friedman Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, April 25th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Friday, April 25th. Friedman Industries’s dividend payout ratio (DPR) is currently 19.75%.

Friedman Industries Company Profile

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.