Shufro Rose & Co. LLC lifted its stake in Friedman Industries (NYSEAMERICAN:FRD) by 3.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 125,009 shares of the company’s stock after acquiring an additional 4,372 shares during the period. Shufro Rose & Co. LLC’s holdings in Friedman Industries were worth $870,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. BlackRock Inc. lifted its position in Friedman Industries by 5.7% in the fourth quarter. BlackRock Inc. now owns 24,378 shares of the company’s stock worth $172,000 after purchasing an additional 1,323 shares during the period. Callahan Advisors LLC lifted its position in Friedman Industries by 7.0% in the second quarter. Callahan Advisors LLC now owns 54,096 shares of the company’s stock worth $377,000 after purchasing an additional 3,542 shares during the period. Municipal Employees Retirement System of Michigan bought a new position in Friedman Industries in the fourth quarter worth $282,000. Finally, LSV Asset Management lifted its position in Friedman Industries by 79.5% in the first quarter. LSV Asset Management now owns 101,502 shares of the company’s stock worth $778,000 after purchasing an additional 44,944 shares during the period.
Shares of NYSEAMERICAN FRD traded up $0.05 during midday trading on Monday, reaching $6.21. 434 shares of the company traded hands, compared to its average volume of 15,529. Friedman Industries has a 12 month low of $5.90 and a 12 month high of $11.47.
The firm also recently declared a dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 19th will be issued a $0.04 dividend. This is a boost from Friedman Industries’s previous dividend of $0.03. The ex-dividend date is Thursday, July 18th.
Separately, TheStreet cut Friedman Industries from a “b” rating to a “c+” rating in a research report on Friday, May 10th.
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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