Short Interest in Friedman Industries, Incorporated (NYSEAMERICAN:FRD) Expands By 7.4%

Friedman Industries, Incorporated (NYSEAMERICAN:FRD - Get Free Report) saw a large increase in short interest in the month of January. As of January 15th, there was short interest totalling 10,100 shares, an increase of 7.4% from the December 31st total of 9,400 shares. Approximately 0.2% of the company's shares are short sold. Based on an average daily volume of 10,000 shares, the days-to-cover ratio is currently 1.0 days.

Friedman Industries Trading Down 0.2 %

NYSEAMERICAN FRD traded down $0.03 on Friday, hitting $16.95. 7,370 shares of the stock were exchanged, compared to its average volume of 14,023. The firm has a market capitalization of $118.14 million, a P/E ratio of 14.87 and a beta of 1.40. Friedman Industries has a 52 week low of $13.40 and a 52 week high of $19.52.

Friedman Industries (NYSEAMERICAN:FRD - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.10) earnings per share for the quarter. Friedman Industries had a return on equity of 6.32% and a net margin of 1.71%. The business had revenue of $106.76 million for the quarter.

Friedman Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Friday, January 17th will be paid a $0.04 dividend. The ex-dividend date is Friday, January 17th. This represents a $0.16 dividend on an annualized basis and a yield of 0.94%. Friedman Industries's dividend payout ratio (DPR) is currently 14.04%.

Analyst Ratings Changes

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

Insider Activity

In other news, CEO Mike J. Taylor acquired 2,500 shares of the firm's stock in a transaction that occurred 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 completion of the acquisition, the chief executive officer now owns 169,154 shares in the company, valued at $2,385,071.40. This trade represents a 1.50 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have purchased a total of 8,380 shares of company stock valued at $117,772 in the last 90 days. 4.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Friedman Industries

Several hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its position in shares of Friedman Industries by 0.3% in the second quarter. Dimensional Fund Advisors LP now owns 561,702 shares of the company's stock valued at $8,482,000 after acquiring an additional 1,591 shares during the period. De Lisle Partners LLP boosted its holdings in Friedman Industries by 2.9% in the 3rd quarter. De Lisle Partners LLP now owns 419,816 shares of the company's stock valued at $6,644,000 after purchasing an additional 11,689 shares during the period. Geode Capital Management LLC grew its position in shares of Friedman Industries by 11.2% during the 3rd 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 in the last quarter. Callahan Advisors LLC grew its position in shares of Friedman Industries by 3.3% during the 4th quarter. Callahan Advisors LLC now owns 53,846 shares of the company's stock worth $823,000 after purchasing an additional 1,712 shares in the last quarter. Finally, Empowered Funds LLC increased its holdings in shares of 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 purchasing an additional 1,751 shares during the period. 33.26% of the stock is currently owned by institutional investors and hedge funds.

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.