Friedman Industries, Incorporated engages in steel processing, pipe manufacturing and processing, and the steel and pipe distribution businesses the United States. It operates in two segments, Coil and Tubular. The Coil segment is involved in the conversion of steel coils into flat sheet and plate steel cut to customer specifications and reselling steel coils. This segment also processes customer-owned coils on a fee basis. The company sells coil products and processing services to approximately 200 customers located primarily in the midwestern, southwestern and southeastern regions of the United States. Its principal customers for these products and services are steel distributors and customers manufacturing steel products, such as steel buildings, railroad cars, barges, tanks and containers, trailers, component parts and other fabricated steel products. The Tubular segment manufactures line and oil country pipes, as well as pipes for structural applications. This segment sells its tubular products principally to steel and pipe distributors through its own sales force. The company was incorporated in 1965 and is headquartered in Longview, Texas.
IPO Year: 1975
Exchange: AMEX
Website: friedmanindustries.com
8-K - FRIEDMAN INDUSTRIES INC (0000039092) (Filer)
10-Q - FRIEDMAN INDUSTRIES INC (0000039092) (Filer)
8-K - FRIEDMAN INDUSTRIES INC (0000039092) (Filer)
8-K - FRIEDMAN INDUSTRIES INC (0000039092) (Filer)
8-K - FRIEDMAN INDUSTRIES INC (0000039092) (Filer)
10-Q - FRIEDMAN INDUSTRIES INC (0000039092) (Filer)
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8-K - FRIEDMAN INDUSTRIES INC (0000039092) (Filer)
10-K - FRIEDMAN INDUSTRIES INC (0000039092) (Filer)
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Although U.S. stocks closed mostly lower on Thursday, there were a few notable insider trades. When insiders purchase shares, it indicates their confidence in the company’s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision. Below is a look at a few recent notable insider purchases. For more, check out Benzinga’s insider transactions platform. Lions Gate Entertainment The Trade: Lions Gate Entertainment Corp. (NYSE:LGF) 10% owner Steven T Mnuchin acquired a
Although U.S. stocks closed higher on Friday, there were a few notable insider trades. When insiders purchase shares, it indicates their confidence in the company’s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision. Below is a look at a few recent notable insider purchases. For more, check out Benzinga’s insider transactions platform. Noble The Trade: Noble Corporation plc (NYSE:NE) 10% owner APMH Invest A/S acquired a total of 300,000 shares at an average
OUTLOOKThe Company expects to conclude fiscal year 2024 with a strong fourth quarter characterized by solid margins associated with a substantial increase in HRC price entering the fourth quarter. Sales volume for the fourth quarter of fiscal 2024 is expected to be slightly higher than the third quarter volume.
Friedman Industries (AMEX:FRD) reported quarterly earnings of $0.16 per share. This is a 15.79 percent decrease over earnings of $0.19 per share from the same period last year. The company reported $115.97 million in sales this quarter. This is a 3.68 percent increase over sales of $111.86 million the same period last year.
On December 13, 2023, Friedman Industries, Incorporated (the "Company") repurchased 400,041 shares of the Company's common stock from Metal One Corporation for an aggregate repurchase price of approximately $5.1 million. After the repurchase, the Company had 6,971,824 shares of common stock outstanding.In addition, the Board of Directors authorized a share repurchase program on December 13, 2023 under which the Company may repurchase up to 1,045,774 shares of the Company's outstanding common stock through December 13, 2026, which equates to 15% of the Company's outstanding shares of common stock after the repurchase of shares from Metal One.Repurchases under the program may be made from time
Friedman Industries (AMEX:FRD) reported quarterly earnings of $1.04 per share. This is a 32.9 percent decrease over earnings of $1.55 per share from the same period last year. The company reported $137.30 million in sales this quarter. This is a 15.14 percent decrease over sales of $161.80 million the same period last year.
What are Value Stocks? A value stock traditionally has a lower price when compared to stock prices of companies in the same industry. This indicates that the company may be undervalued, as investors are not expressing as much interest in such companies. The most commonly used way to check for value is with the price-to-earnings multiple, or P/E. A low P/E multiple is a good indication that the stock is undervalued. The following stocks are considered to be notable value stocks in the basic materials sector: Galiano Gold (AMEX:GAU) - P/E: 2.61 Arch Resources (NYSE:ARCH) - P/E: 2.67 Friedman Indus (AMEX:FRD) - P/E: 5.89 Gulf Resources (NASDAQ:GURE) - P/E: 2.48 Steel Dynamics (NASDAQ:STLD) -
LONGVIEW, Texas, Nov. 12, 2024 (GLOBE NEWSWIRE) -- Friedman Industries, Incorporated (NYSE:FRD) announced today its results of operations for the second fiscal quarter ended September 30, 2024. September 30, 2024 Quarter Highlights: Sales of approximately $106.8 millionWorking capital balance at quarter-end of approximately $111.7 millionOperating cash flow of approximately $10.8 million during the quarterDebt reduced 22% during the quarter "We experienced challenging conditions during the second fiscal quarter driven by industry specific and macroeconomic factors," said Michael J. Taylor, President and Chief Executive Officer. "Our margins were affected by industry-wide pricing pressur
LONGVIEW, Texas, Sept. 18, 2024 (GLOBE NEWSWIRE) -- The Board of Directors (the "Board") of Friedman Industries, Incorporated, (NYSE:FRD) a Texas-based company engaged in steel processing, pipe manufacturing, and steel and pipe distribution, declared on September 18, 2024, a cash dividend of $0.04 per share on the Common Stock of the Company. The Company will pay the cash dividend on November 15, 2024 to shareholders of record at the close of business on October 25, 2024. This dividend marks the Company's 211th consecutive quarterly cash dividend since becoming publicly traded in 1972. Dividends are declared at the discretion of the Board and reviewed on a quarterly basis. The Board's de
LONGVIEW, Texas, Aug. 08, 2024 (GLOBE NEWSWIRE) -- Friedman Industries, Incorporated (NYSE:FRD) announced today its results of operations for the quarter ended June 30, 2024. June 30, 2024 Quarter Highlights: Net earnings of approximately $2.6 millionSales of approximately $114.6 millionWorking capital balance at quarter-end of approximately $123.6 million "We are pleased to report profitable results for our first quarter in a period of challenging price dynamics," said Michael J. Taylor, President and Chief Executive Officer. "The first quarter results further highlight our strategy as we captured hedging gains of approximately $5.4 million that worked as intended to help offset physic
LONGVIEW, Texas, June 26, 2024 (GLOBE NEWSWIRE) -- The Board of Directors (the "Board") of Friedman Industries, Incorporated, (NYSE:FRD) a Texas-based company engaged in steel processing, pipe manufacturing, and steel and pipe distribution, declared on June 26, 2024, a cash dividend of $0.04 per share on the Common Stock of the Company. The Company will pay the cash dividend on August 16, 2024 to shareholders of record at the close of business on July 26, 2024. This dividend marks the Company's 210th consecutive quarterly cash dividend since becoming publicly traded in 1972. Dividends are declared at the discretion of the Board and reviewed on a quarterly basis. The Board's desire is to
LONGVIEW, Texas, June 11, 2024 (GLOBE NEWSWIRE) -- Friedman Industries, Incorporated (NYSE:FRD) announced today its results of operations for the quarter and fiscal year ended March 31, 2024. March 31, 2024 Quarter Highlights: Net earnings of $5.0 millionSales of $132.2 million13% increase in sales volume over the preceding third quarter9% increase in sales volume over the prior year fourth quarter Fiscal Year March 31, 2024 Highlights: Net earnings of $17.3 million - second most profitable fiscal year in Company historySales of $516.3 million19% increase in sales volume over prior fiscal yearWorking capital balance at year-end of $116.0 million "We ended fiscal 2024 with a
Favorable Outlook for Consistent Earnings and Further Growth209th Consecutive Quarterly Dividend Since 1972 LONGVIEW, Texas, March 21, 2024 (GLOBE NEWSWIRE) -- The Board of Directors (the "Board") of Friedman Industries, Incorporated, (NYSE-American: FRD) a Texas-based company engaged in pipe manufacturing, steel processing and steel and pipe distribution, declared on March 20, 2024, a cash dividend of $0.04 per share on the Common Stock of the Company. "Our future has never been brighter. We are increasing Friedman's dividend based on our favorable outlook for consistent earnings and further growth," said Mike Taylor, Chairman and Chief Executive Officer. "Friedman's strategic tra
LONGVIEW, Texas, Feb. 14, 2024 (GLOBE NEWSWIRE) -- Friedman Industries, Incorporated (NYSE:FRD) today announced its results of operations for the third fiscal quarter ended December 31, 2023. December 31, 2023 Quarter Highlights: Sales of approximately $116.0 millionEarnings from operations of approximately $6.2 millionNet earnings of approximately $1.2 million11% increase in sales volume over prior year quarter volumeWorking capital balance at quarter-end of approximately $116.3 million "We experienced higher hot-rolled coil ("HRC") pricing during the third quarter which increased our physical margins, particularly during the second half of the quarter," said Michael J. Taylor, Preside
LONGVIEW, Texas, Dec. 18, 2023 (GLOBE NEWSWIRE) -- On December 13, 2023, Friedman Industries, Incorporated (the "Company") repurchased 400,041 shares of the Company's common stock from Metal One Corporation for an aggregate repurchase price of approximately $5.1 million. After the repurchase, the Company had 6,971,824 shares of common stock outstanding. In addition, the Board of Directors authorized a share repurchase program on December 13, 2023 under which the Company may repurchase up to 1,045,774 shares of the Company's outstanding common stock through December 13, 2026, which equates to 15% of the Company's outstanding shares of common stock after the repurchase of shares from Me
LONGVIEW, Texas, Dec. 13, 2023 (GLOBE NEWSWIRE) -- Friedman Industries, Incorporated (NYSE—American; Trading Symbol: FRD) The Board of Directors (the "Board") of Friedman Industries, Incorporated, a Texas-based company engaged in pipe manufacturing, steel processing and steel and pipe distribution, declared on December 13, 2023, a cash dividend of $0.02 per share on the Common Stock of the Company. The Company will pay the cash dividend on February 16, 2024 to shareholders of record at the close of business on January 19, 2024. This dividend marks the Company's 208th consecutive quarterly cash dividend with the Company having paid a cash dividend every quarter since becoming publicly trade
LONGVIEW, Texas, Nov. 14, 2023 (GLOBE NEWSWIRE) -- Friedman Industries, Incorporated (NYSE:FRD) announced today its results of operations for the quarter ended September 30, 2023. September 30, 2023 Quarter Highlights: Net earnings of approximately $3.5 millionSales of approximately $130.7 million10% increase in sales volume over prior year quarter volumeWorking capital balance at quarter-end of approximately $129.9 million "Our second quarter results are a testament to our team's ability to evaluate challenging market conditions and make the appropriate decisions to deliver increased sales volume and profitable results in periods of significant headwinds to profitability," said M
LONGVIEW, Texas, Sept. 18, 2024 (GLOBE NEWSWIRE) -- The Board of Directors (the "Board") of Friedman Industries, Incorporated, (NYSE:FRD) a Texas-based company engaged in steel processing, pipe manufacturing, and steel and pipe distribution, declared on September 18, 2024, a cash dividend of $0.04 per share on the Common Stock of the Company. The Company will pay the cash dividend on November 15, 2024 to shareholders of record at the close of business on October 25, 2024. This dividend marks the Company's 211th consecutive quarterly cash dividend since becoming publicly traded in 1972. Dividends are declared at the discretion of the Board and reviewed on a quarterly basis. The Board's de
LONGVIEW, Texas, June 26, 2024 (GLOBE NEWSWIRE) -- The Board of Directors (the "Board") of Friedman Industries, Incorporated, (NYSE:FRD) a Texas-based company engaged in steel processing, pipe manufacturing, and steel and pipe distribution, declared on June 26, 2024, a cash dividend of $0.04 per share on the Common Stock of the Company. The Company will pay the cash dividend on August 16, 2024 to shareholders of record at the close of business on July 26, 2024. This dividend marks the Company's 210th consecutive quarterly cash dividend since becoming publicly traded in 1972. Dividends are declared at the discretion of the Board and reviewed on a quarterly basis. The Board's desire is to
LONGVIEW, Texas, June 11, 2024 (GLOBE NEWSWIRE) -- Friedman Industries, Incorporated (NYSE:FRD) announced today its results of operations for the quarter and fiscal year ended March 31, 2024. March 31, 2024 Quarter Highlights: Net earnings of $5.0 millionSales of $132.2 million13% increase in sales volume over the preceding third quarter9% increase in sales volume over the prior year fourth quarter Fiscal Year March 31, 2024 Highlights: Net earnings of $17.3 million - second most profitable fiscal year in Company historySales of $516.3 million19% increase in sales volume over prior fiscal yearWorking capital balance at year-end of $116.0 million "We ended fiscal 2024 with a
Favorable Outlook for Consistent Earnings and Further Growth209th Consecutive Quarterly Dividend Since 1972 LONGVIEW, Texas, March 21, 2024 (GLOBE NEWSWIRE) -- The Board of Directors (the "Board") of Friedman Industries, Incorporated, (NYSE-American: FRD) a Texas-based company engaged in pipe manufacturing, steel processing and steel and pipe distribution, declared on March 20, 2024, a cash dividend of $0.04 per share on the Common Stock of the Company. "Our future has never been brighter. We are increasing Friedman's dividend based on our favorable outlook for consistent earnings and further growth," said Mike Taylor, Chairman and Chief Executive Officer. "Friedman's strategic tra
LONGVIEW, Texas, Dec. 13, 2023 (GLOBE NEWSWIRE) -- Friedman Industries, Incorporated (NYSE—American; Trading Symbol: FRD) The Board of Directors (the "Board") of Friedman Industries, Incorporated, a Texas-based company engaged in pipe manufacturing, steel processing and steel and pipe distribution, declared on December 13, 2023, a cash dividend of $0.02 per share on the Common Stock of the Company. The Company will pay the cash dividend on February 16, 2024 to shareholders of record at the close of business on January 19, 2024. This dividend marks the Company's 208th consecutive quarterly cash dividend with the Company having paid a cash dividend every quarter since becoming publicly trade
LONGVIEW, Texas, Sept. 13, 2023 (GLOBE NEWSWIRE) -- Friedman Industries, Incorporated (NYSE—American; Trading Symbol: FRD) The Board of Directors (the "Board") of Friedman Industries, Incorporated, a Texas-based company engaged in pipe manufacturing, steel processing and steel and pipe distribution, declared on September 13, 2023, a cash dividend of $0.02 per share on the Common Stock of the Company. The Company will pay the cash dividend on November 10, 2023 to shareholders of record at the close of business on October 20, 2023. This dividend marks the Company's 207th consecutive quarterly cash dividend with the Company having paid a cash dividend every quarter since becoming publicly tra
Friedman_Industries_RGBLONGVIEW, Texas, June 20, 2023 (GLOBE NEWSWIRE) -- Friedman Industries, Incorporated (NYSE—American; Trading Symbol: FRD) The Board of Directors (the "Board") of Friedman Industries, Incorporated, a Texas-based company engaged in pipe manufacturing, steel processing and steel and pipe distribution, declared on June 20, 2023, a cash dividend of $0.02 per share on the Common Stock of the Company. The Company will pay the cash dividend on August 11, 2023 to shareholders of record at the close of business on July 21, 2023. This dividend marks the Company's 206th consecutive quarterly cash dividend with the Company having paid a cash dividend every quarter since becom
LONGVIEW, Texas, March 21, 2023 (GLOBE NEWSWIRE) -- Friedman Industries, Incorporated (NYSE—American; Trading Symbol: FRD) The Board of Directors (the "Board") of Friedman Industries, Incorporated, a Texas-based company engaged in pipe manufacturing, steel processing and steel and pipe distribution, declared on March 21, 2023, a cash dividend of $0.02 per share on the Common Stock of the Company. The Company will pay the cash dividend on May 26, 2023 to shareholders of record at the close of business on April 28, 2023. This dividend marks the Company's 205th consecutive quarterly cash dividend with the Company having paid a cash dividend every quarter since becoming publicly traded in 197
LONGVIEW, Texas, Dec. 06, 2022 (GLOBE NEWSWIRE) -- Friedman Industries, Incorporated (NYSE—American; Trading Symbol: FRD) The Board of Directors (the "Board") of Friedman Industries, Incorporated, a Texas-based company engaged in pipe manufacturing, steel processing and steel and pipe distribution, declared on December 5, 2022, a cash dividend of $0.02 per share on the Common Stock of the Company. The Company will pay the cash dividend on February 10, 2023 to shareholders of record at the close of business on January 13, 2023. This dividend marks the Company's 204th consecutive quarterly cash dividend with the Company having paid a cash dividend every quarter since becoming publicly traded
LONGVIEW, Texas, Sept. 13, 2022 (GLOBE NEWSWIRE) -- (NYSE—American; Trading Symbol: FRD) The Board of Directors (the "Board") of Friedman Industries, Incorporated, a Texas-based company engaged in pipe manufacturing, steel processing and steel and pipe distribution, declared on September 13, 2022, a cash dividend of $0.02 per share on the Common Stock of the Company. The Company will pay the cash dividend on November 18, 2022 to shareholders of record at the close of business on October 14, 2022. This dividend marks the Company's 203rd consecutive quarterly cash dividend with the Company having paid a cash dividend every quarter since becoming publicly traded in 1972. Dividends are declar