Inspire Advisors LLC Takes $422,000 Position in Friedman Industries, Incorporated (NYSEAMERICAN:FRD)

Inspire Advisors LLC acquired a new position in Friedman Industries, Incorporated (NYSEAMERICAN:FRD - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 27,612 shares of the company's stock, valued at approximately $422,000. Inspire Advisors LLC owned about 0.40% of Friedman Industries as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Jones Financial Companies Lllp bought a new stake in Friedman Industries during the fourth quarter valued at $28,000. Empowered Funds LLC boosted its position in Friedman Industries by 5.3% during the third quarter. Empowered Funds LLC now owns 34,878 shares of the company's stock valued at $559,000 after acquiring an additional 1,742 shares during the last quarter. Callahan Advisors LLC boosted its position in 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 during the last quarter. Geode Capital Management LLC boosted its position in 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 acquiring an additional 7,141 shares during the last quarter. Finally, De Lisle Partners LLP boosted its position in Friedman Industries by 2.9% during the third quarter. De Lisle Partners LLP now owns 419,816 shares of the company's stock valued at $6,644,000 after acquiring an additional 11,689 shares during the last quarter. Institutional investors own 33.26% of the company's stock.

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Friedman Industries Price Performance

Shares of FRD stock traded up $0.96 on Friday, reaching $16.50. 10,690 shares of the company were exchanged, compared to its average volume of 15,456. The stock has a market capitalization of $115.01 million, a PE ratio of 20.37 and a beta of 1.40. Friedman Industries, Incorporated has a one year low of $13.40 and a one year high of $19.52.

Insider Transactions at Friedman Industries

In related news, Director Tim Scott Stevenson acquired 1,500 shares of the business's stock in a transaction dated Tuesday, February 11th. The shares were bought at an average price of $17.23 per share, with a total value of $25,845.00. Following the transaction, the director now directly owns 28,675 shares of the company's stock, valued at $494,070.25. This trade represents a 5.52 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Mike J. Taylor bought 2,500 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was acquired at an average price of $14.10 per share, for a total transaction of $35,250.00. Following 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 disclosure for this purchase can be found here. Insiders have purchased 7,180 shares of company stock valued at $106,922 in the last 90 days. 4.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

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.