Friedman Industries director Scott acquires $24,232 in stock

Sandra Kay Scott, a director at Friedman Industries Inc . (NYSE:FRD), has recently increased her stake in the company through a series of stock purchases. According to an SEC filing, Scott acquired a total of 1,700 shares over three consecutive days, with the transactions taking place between January 27 and January 29, 2025. The company has demonstrated strong financial health, with InvestingPro data showing impressive returns over the past five years.

The shares were purchased at prices ranging from $14.21 to $14.34 per share, resulting in a total investment of $24,232. Following these transactions, Scott now holds 9,112 shares of the company’s common stock. Notably, Friedman Industries has maintained dividend payments for 53 consecutive years, with a current dividend yield of 1.15%.

Friedman Industries, based in Longview, Texas, operates in the steel manufacturing sector, specializing in steel works, blast furnaces, and rolling and finishing mills. The company’s stock is listed on the New York Stock Exchange under the ticker symbol FRD. The company maintains a strong liquidity position with a current ratio of 4.07, indicating robust financial stability. Investors can access more detailed financial metrics and analysis through InvestingPro, which offers additional valuable insights about the company’s performance.

In other recent news, Texas-based steel company Friedman Industries Incorporated has put forth a new executive severance plan. The plan, approved by the company’s board, assures severance benefits for certain executives in the event of a change in control of the company. The severance payment includes a multiple of the individual’s base salary and average annual bonus, with the CEO receiving three times these earnings and the CFO two times.

In addition to this, the company has shared significant developments from its Annual Meeting of Shareholders. Seven directors were elected to the Board of Directors, with Michael J. Taylor receiving the highest number of votes. An advisory resolution regarding executive compensation was approved, and Moss Adams LLP was ratified as the company’s independent registered public accounting firm for the fiscal year ending March 31, 2025.

However, a proposed amendment to the company’s Articles of Incorporation, which would have allowed shareholders to amend the Bylaws, was rejected. Lastly, the company announced a regular cash dividend of $0.04 per share, marking its 211th consecutive quarterly cash dividend since its debut on the public market in 1972. These are among the recent developments within the company.

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