Corient Private Wealth LLC Makes New $401,000 Investment in Friedman Industries, Incorporated (NYSEAMERICAN:FRD)

Corient Private Wealth LLC purchased a new position in Friedman Industries, Incorporated (NYSEAMERICAN:FRD - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 26,257 shares of the company's stock, valued at approximately $401,000. Corient Private Wealth LLC owned approximately 0.38% of Friedman Industries as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp acquired a new position in shares of Friedman Industries during the fourth quarter worth approximately $28,000. Inspire Advisors LLC bought a new stake in Friedman Industries during the 4th quarter valued at $422,000. Empowered Funds LLC raised its holdings in Friedman Industries by 5.0% during the fourth quarter. Empowered Funds LLC now owns 36,629 shares of the company's stock worth $560,000 after buying an additional 1,751 shares during the last quarter. Callahan Advisors LLC lifted its stake in shares of Friedman Industries by 3.3% in the fourth quarter. Callahan Advisors LLC now owns 53,846 shares of the company's stock valued at $823,000 after buying an additional 1,712 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Friedman Industries by 11.2% during the third quarter. Geode Capital Management LLC now owns 70,727 shares of the company's stock valued at $1,133,000 after buying an additional 7,141 shares during the last quarter. Institutional investors and hedge funds own 33.26% of the company's stock.

Insider Activity at Friedman Industries

In other news, CEO Mike J. Taylor acquired 2,500 shares of the firm's stock in a transaction on Wednesday, January 15th. The stock was purchased at an average price of $14.10 per share, for a total transaction of $35,250.00. Following the purchase, the chief executive officer now owns 169,154 shares in the company, valued at approximately $2,385,071.40. This represents a 1.50 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Tim Scott Stevenson bought 1,500 shares of the company's stock in a transaction on Tuesday, February 11th. The shares were 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 approximately $494,070.25. This 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 over the last 90 days. Insiders own 4.60% of the company's stock.

Friedman Industries Price Performance

Shares of NYSEAMERICAN:FRD traded up $0.32 during midday trading on Wednesday, hitting $14.71. 11,642 shares of the company's stock were exchanged, compared to its average volume of 15,337. Friedman Industries, Incorporated has a 12 month low of $13.40 and a 12 month high of $19.52. The company has a market cap of $102.53 million, a PE ratio of 18.16 and a beta of 1.40.

Friedman Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, April 25th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Friday, April 25th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.09%. Friedman Industries's dividend payout ratio is presently 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.