Acadian Asset Management LLC Has $967,000 Holdings in Friedman Industries (FRD)
Acadian Asset Management LLC raised its holdings in shares of Friedman Industries (NYSEAMERICAN:FRD) by 9,228.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 102,608 shares of the company’s stock after buying an additional 101,508 shares during the period. Acadian Asset Management LLC owned about 1.46% of Friedman Industries worth $967,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Callahan Advisors LLC boosted its holdings in shares of Friedman Industries by 41.6% during the third quarter. Callahan Advisors LLC now owns 46,952 shares of the company’s stock worth $442,000 after purchasing an additional 13,801 shares during the period. Essex Investment Management Co. LLC boosted its holdings in shares of Friedman Industries by 28.2% during the third quarter. Essex Investment Management Co. LLC now owns 41,412 shares of the company’s stock worth $390,000 after purchasing an additional 9,103 shares during the period. Finally, BlackRock Inc. boosted its holdings in shares of Friedman Industries by 28.7% during the second quarter. BlackRock Inc. now owns 27,013 shares of the company’s stock worth $219,000 after purchasing an additional 6,019 shares during the period.
Separately, TheStreet raised shares of Friedman Industries from a “c” rating to a “b” rating in a research note on Friday, August 10th.
Friedman Industries (NYSEAMERICAN:FRD) last released its quarterly earnings results on Tuesday, August 14th. The company reported $0.51 earnings per share (EPS) for the quarter. The company had revenue of $48.19 million during the quarter.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 16th. Shareholders of record on Friday, October 12th will be paid a dividend of $0.06 per share. This is an increase from Friedman Industries’s previous quarterly dividend of $0.03. The ex-dividend date is Thursday, October 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.96%.
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About Friedman Industries
Friedman Industries, Incorporated engages in steel processing, pipe manufacturing and processing, and steel and pipe distribution activities in the United States. The company operates in two segments, Coil Products and Tubular Products. The Coil Products segment processes hot-roll coils into sheet and plate, as well as customer-owned coils on a fee basis; and sells these products on a wholesale basis.
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