Friedman Industries, Incorporated (FRD) Shares Bought by Dimensional Fund Advisors LP
Dimensional Fund Advisors LP lifted its stake in Friedman Industries, Incorporated (NYSEAMERICAN:FRD) by 0.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 574,745 shares of the company’s stock after acquiring an additional 3,703 shares during the period. Dimensional Fund Advisors LP owned 8.20% of Friedman Industries worth $3,265,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently modified their holdings of FRD. Leisure Capital Management lifted its stake in shares of Friedman Industries by 43.1% in the 2nd quarter. Leisure Capital Management now owns 24,145 shares of the company’s stock worth $137,000 after acquiring an additional 7,276 shares during the period. Franklin Resources Inc. lifted its stake in shares of Friedman Industries by 8.3% in the 2nd quarter. Franklin Resources Inc. now owns 130,000 shares of the company’s stock worth $738,000 after acquiring an additional 10,000 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Friedman Industries by 15.4% in the 2nd quarter. Vanguard Group Inc. now owns 166,072 shares of the company’s stock worth $944,000 after acquiring an additional 22,209 shares during the period.
Shares of Friedman Industries, Incorporated (NYSEAMERICAN:FRD) traded down $0.02 during trading hours on Friday, hitting $5.69. 1,258 shares of the stock were exchanged, compared to its average volume of 28,024. Friedman Industries, Incorporated has a 12 month low of $5.05 and a 12 month high of $7.29.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 17th. Investors of record on Friday, October 13th were issued a $0.01 dividend. The ex-dividend date of this dividend was Thursday, October 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.70%. Friedman Industries’s payout ratio is currently -200.00%.
Separately, TheStreet raised shares of Friedman Industries from a “d+” rating to a “c-” rating in a research note on Tuesday, September 26th.
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Friedman Industries Company Profile
Friedman Industries, Incorporated is engaged in steel processing, pipe manufacturing and processing and steel and pipe distribution. The Company has two product groups: coil and tubular products. It purchases prime hot-rolled steel coils, processes the coils into flat, finished sheet and plate, and sells these products on a wholesale, rapid-delivery basis in competition with steel mills, importers and steel service centers.
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