In a recent transaction, Joe L. Williams, a director at Friedman Industries Incorporated (NYSEAMERICAN:FRD), acquired additional shares in the company. The purchase, which took place on July 10, 2024, involved 3,000 shares of common stock, representing a total investment of $43,020.
The shares were bought at a weighted average price of $14.34, with individual transactions ranging from $14.25 to $14.45 per share. This acquisition has increased Williams' holdings to a total of 31,574 shares of Friedman Industries.
Investors often monitor insider buying as it can be a signal of confidence in the company's future prospects. The details of the transaction were disclosed in a Form 4 filing with the U.S. Securities and Exchange Commission.
Friedman Industries, incorporated in Texas, operates in the steel industry, specifically in steel works, blast furnaces, and rolling and finishing mills. The company's stock is publicly traded under the ticker symbol FRD on the NYSE American exchange.
This purchase by a company insider may be of interest to current and potential investors as they assess the company's performance and insider sentiment. The transaction details are available to the public and provide transparency into the actions of Friedman Industries' executives and their belief in the company's value.
InvestingPro Insights
Amidst the news of insider buying at Friedman Industries Incorporated (NYSEAMERICAN:FRD), a deeper dive into the company’s financials through InvestingPro provides additional context for investors. Despite a challenging market, Friedman Industries has demonstrated a commitment to shareholder returns, maintaining dividend payments for an impressive 52 consecutive years, an InvestingPro Tip that underscores the company's long-term approach to investor rewards.
While the company has seen its share price decline by 25.59% over the last three months, it's important to note that Friedman Industries has been profitable over the last twelve months, with a basic and diluted EPS (Continuing Operations) of $2.39. This profitability, along with the fact that the company’s liquid assets exceed its short-term obligations, suggests a level of financial stability that may reassure investors looking for signs of operational resilience.
From a valuation standpoint, InvestingPro data indicates a gross profit margin of 14.03% for the last twelve months as of Q4 2024, signaling the company's ability to maintain profitability in its operations. Additionally, the company's revenue growth for Q4 2024 stood at 6.48%, reflecting a potential turnaround despite a year-over-year decline in revenue growth.
For investors seeking comprehensive analysis and additional insights, InvestingPro offers more tips on Friedman Industries, which can be accessed with the use of coupon code PRONEWS24 for up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription. There are 6 additional InvestingPro Tips available, providing a broader perspective on the company's financial health and market position.
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