Friedman Industries (FRD) Position Reduced by Franklin Resources Inc.

Acadian Asset Management LLC increased its position in Friedman Industries by 9,228.0% during the 3rd quarter. Acadian Asset Management LLC …

Friedman Industries logoFranklin Resources Inc. cut its stake in shares of Friedman Industries (NYSEAMERICAN:FRD) by 7.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 120,000 shares of the company’s stock after selling 10,000 shares during the quarter. Franklin Resources Inc. owned about 1.71% of Friedman Industries worth $1,130,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its holdings in Friedman Industries by 4.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 589,208 shares of the company’s stock valued at $5,550,000 after purchasing an additional 26,722 shares in the last quarter. Bridgeway Capital Management Inc. increased its position in Friedman Industries by 76.6% during the 3rd quarter. Bridgeway Capital Management Inc. now owns 139,000 shares of the company’s stock worth $1,309,000 after purchasing an additional 60,300 shares in the last quarter. Acadian Asset Management LLC increased its position in Friedman Industries by 9,228.0% during the 3rd quarter. Acadian Asset Management LLC now owns 102,608 shares of the company’s stock worth $967,000 after purchasing an additional 101,508 shares in the last quarter. Hillsdale Investment Management Inc. acquired a new stake in Friedman Industries during the 3rd quarter worth approximately $548,000. Finally, JPMorgan Chase & Co. acquired a new stake in Friedman Industries during the 3rd quarter worth approximately $502,000.

Shares of Friedman Industries stock traded down $0.46 on Friday, hitting $7.67. 7,779 shares of the company’s stock traded hands, compared to its average volume of 18,775. Friedman Industries has a 52-week low of $5.24 and a 52-week high of $11.47.

Friedman Industries (NYSEAMERICAN:FRD) last announced its quarterly earnings data on Wednesday, November 14th. The company reported $0.29 earnings per share (EPS) for the quarter. The firm had revenue of $53.43 million for the quarter.

The business also recently announced a quarterly dividend, which will be paid on Friday, February 8th. Shareholders of record on Friday, January 11th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date of this dividend is Thursday, January 10th.

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Friedman Industries Profile

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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Institutional Ownership by Quarter for Friedman Industries (NYSEAMERICAN:FRD)

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