Bridgeway Capital Management LLC Purchases 651 Shares of Friedman Industries, Incorporated (NYSEAMERICAN:FRD)

Bridgeway Capital Management LLC boosted its position in Friedman Industries, Incorporated (NYSEAMERICAN:FRD) by 0.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 157,850 shares of the company’s stock after acquiring an additional 651 shares during the period. Bridgeway Capital Management LLC owned 2.26% of Friedman Industries worth $2,414,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Inspire Advisors LLC purchased a new stake in Friedman Industries in the fourth quarter worth $422,000. Corient Private Wealth LLC purchased a new stake in shares of Friedman Industries in the 4th quarter worth about $401,000. LSV Asset Management boosted its stake in shares of Friedman Industries by 21.1% during the 4th quarter. LSV Asset Management now owns 72,700 shares of the company’s stock valued at $1,112,000 after purchasing an additional 12,663 shares in the last quarter. Northern Trust Corp increased its position in shares of Friedman Industries by 38.1% during the fourth quarter. Northern Trust Corp now owns 26,511 shares of the company’s stock valued at $405,000 after buying an additional 7,320 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Friedman Industries by 11.2% in the third quarter. Geode Capital Management LLC now owns 70,727 shares of the company’s stock worth $1,133,000 after buying an additional 7,141 shares during the period. Hedge funds and other institutional investors own 33.26% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Friedman Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, April 15th.

Insider Buying and Selling at Friedman Industries

In related news, Director Tim Scott Stevenson bought 1,500 shares of the business’s stock in a transaction dated Tuesday, February 11th. The shares were purchased at an average cost of $17.23 per share, with a total value of $25,845.00. Following the completion of the purchase, the director now owns 28,675 shares in the company, valued at approximately $494,070.25. The trade was a 5.52 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 4.60% of the company’s stock.

Friedman Industries Price Performance

Shares of Friedman Industries stock opened at $15.80 on Friday. Friedman Industries, Incorporated has a 12 month low of $12.24 and a 12 month high of $19.18. The stock has a market capitalization of $110.13 million, a price-to-earnings ratio of 19.51 and a beta of 1.40. The firm’s fifty day moving average price is $15.90.

Friedman Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, April 25th will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend is Friday, April 25th. Friedman Industries’s dividend payout ratio (DPR) is presently 19.75%.

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.