Friedman Industries, Incorporated (NYSEAMERICAN:FRD) Short Interest Update

Friedman Industries, Incorporated (NYSEAMERICAN:FRD - Get Free Report) saw a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 9,400 shares, an increase of 129.3% from the November 30th total of 4,100 shares. Based on an average daily trading volume, of 10,700 shares, the short-interest ratio is currently 0.9 days. Approximately 0.1% of the shares of the company are short sold.

Wall Street Analyst Weigh In

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

Friedman Industries Price Performance

FRD stock traded down $0.29 during trading on Friday, hitting $15.57. The company had a trading volume of 5,700 shares, compared to its average volume of 16,608. The stock has a market capitalization of $108.52 million, a PE ratio of 13.66 and a beta of 1.41. Friedman Industries has a 12 month low of $13.40 and a 12 month high of $19.52.

Friedman Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 17th 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 1.03%. The ex-dividend date of this dividend is Friday, January 17th. Friedman Industries's dividend payout ratio is currently 14.04%.

Insiders Place Their Bets

In related news, CEO Mike J. Taylor acquired 2,000 shares of the company's stock in a transaction dated Thursday, November 21st. The shares were bought at an average price of $13.50 per share, for a total transaction of $27,000.00. Following the acquisition, the chief executive officer now owns 164,154 shares in the company, valued at $2,216,079. This trade represents a 1.23 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.60% of the company's stock.

Institutional Trading of Friedman Industries

A number of large investors have recently bought and sold shares of the business. LSV Asset Management bought a new position in Friedman Industries during the 2nd quarter worth about $343,000. Empowered Funds LLC grew its holdings in shares of Friedman Industries by 5.3% during the third quarter. Empowered Funds LLC now owns 34,878 shares of the company's stock worth $559,000 after buying an additional 1,742 shares in the last quarter. Geode Capital Management LLC raised its position in Friedman Industries by 11.2% in the 3rd 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. Acadian Asset Management LLC raised its position in Friedman Industries by 1.0% in the 2nd quarter. Acadian Asset Management LLC now owns 135,794 shares of the company's stock valued at $2,048,000 after buying an additional 1,337 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Friedman Industries by 0.6% in the 2nd quarter. Renaissance Technologies LLC now owns 361,882 shares of the company's stock valued at $5,464,000 after acquiring an additional 2,245 shares in the last quarter. 33.26% of the stock is owned by institutional investors.

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.