Callahan Advisors LLC Boosts Stock Position in Friedman Industries, Incorporated (NYSEAMERICAN:FRD)

Callahan Advisors LLC lifted its stake in Friedman Industries, Incorporated (NYSEAMERICAN:FRD) by 3.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 53,846 shares of the company’s stock after buying an additional 1,712 shares during the quarter. Callahan Advisors LLC owned approximately 0.77% of Friedman Industries worth $823,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of FRD. De Lisle Partners LLP increased its holdings in shares of Friedman Industries by 2.9% in the third 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 last quarter. Geode Capital Management LLC increased its holdings 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 valued at $1,133,000 after purchasing an additional 7,141 shares during the last quarter. Finally, Empowered Funds LLC increased its holdings in shares of Friedman Industries by 5.0% in the fourth 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. Hedge funds and other institutional investors own 33.26% of the company’s stock.

Friedman Industries Stock Up 3.6 %

Friedman Industries stock opened at $17.50 on Tuesday. Friedman Industries, Incorporated has a fifty-two week low of $13.40 and a fifty-two week high of $19.52. The stock has a market capitalization of $121.98 million, a PE ratio of 14.90 and a beta of 1.40.

Friedman Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Friday, January 17th were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date was Friday, January 17th. Friedman Industries’s dividend payout ratio is currently 14.04%.

Analyst Ratings Changes

Separately, StockNews.com upgraded Friedman Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th.

Insider Buying and Selling

In related news, Director Tim Scott Stevenson bought 1,500 shares of the stock in a transaction on Tuesday, February 11th. The shares were purchased at an average price of $17.23 per share, for a total transaction of $25,845.00. Following the acquisition, the director now owns 28,675 shares in the company, valued at $494,070.25. This represents a 5.52 % 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, CEO Mike J. Taylor bought 2,500 shares of the stock in a transaction on Wednesday, January 15th. The shares were bought 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 owns 169,154 shares in the company, valued at $2,385,071.40. The trade was a 1.50 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 9,180 shares of company stock worth $133,922 in the last quarter. Company insiders own 4.60% of the company’s stock.

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.