Short Interest in Friedman Industries, Incorporated (NYSEAMERICAN:FRD) Declines By 81.8%

Friedman Industries, Incorporated (NYSEAMERICAN:FRD) saw a significant decrease in short interest during the month of December. As of December 31st, there was short interest totalling 200 shares, a decrease of 81.8% from the December 15th total of 1,100 shares. Based on an average daily trading volume, of 11,200 shares, the short-interest ratio is currently 0.0 days.

In other Friedman Industries news, CEO Mike J. Taylor purchased 10,000 shares of Friedman Industries stock in a transaction dated Wednesday, December 2nd. The shares were purchased at an average cost of $6.37 per share, for a total transaction of $63,700.00. Following the completion of the acquisition, the chief executive officer now owns 102,500 shares in the company, valued at approximately $652,925. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.

A hedge fund recently bought a new stake in Friedman Industries stock. Founders Capital Management purchased a new stake in Friedman Industries, Incorporated (NYSEAMERICAN:FRD) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,000 shares of the company’s stock, valued at approximately $27,000. Founders Capital Management owned approximately 0.06% of Friedman Industries at the end of the most recent reporting period.

FRD traded up $0.19 during trading on Thursday, hitting $7.02. 1 shares of the stock were exchanged, compared to its average volume of 23,263. The stock has a 50 day moving average price of $6.65. Friedman Industries has a 1 year low of $3.72 and a 1 year high of $7.31.

Friedman Industries (NYSEAMERICAN:FRD) last announced its quarterly earnings results on Monday, November 16th. The company reported ($0.04) earnings per share (EPS) for the quarter. The firm had revenue of $24.86 million during the quarter.

The business also recently declared a quarterly dividend, which will be paid on Friday, February 5th. Stockholders of record on Friday, January 8th will be issued a $0.02 dividend. The ex-dividend date is Thursday, January 7th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.14%.

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 processing and wholesale of hot-roll coils into sheet and plate, as well as customer-owned coils.

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