GuruFocus - On June 17, 2024, Mike Taylor, President / CEO / Director of Friedman Industries Inc (FRD), purchased 10,000 shares of the company, as reported in a recent SEC Filing. Following this transaction, the insider now owns a total of 152,154 shares of Friedman Industries Inc.
Friedman Industries Inc is engaged in steel processing, pipe manufacturing and processing, and steel and pipe distribution. The company operates through two segments: Coil and Tubular Products. The Coil segment involves in the conversion of steel coils into flat sheet and plate steel, while the Tubular Products segment focuses on the conversion of steel coils into tubular products and the processing of pipe.
Over the past year, Mike Taylor has bought a total of 20,322 shares and has not sold any shares. The insider transaction history for Friedman Industries Inc shows a trend with 9 insider buys and 1 insider sell over the past year.
Shares of Friedman Industries Inc were trading at $16.44 on the day of the transaction. The company has a market cap of $112.979 million. The price-earnings ratio of the stock is 6.78, which is lower than both the industry median of 14.765 and the companys historical median.
According to the GF Value, the intrinsic value estimate for Friedman Industries Inc is $15.74, making the stock Fairly Valued with a price-to-GF-Value ratio of 1.04.
The GF Value is calculated based on historical multiples such as the price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, adjusted by a GuruFocus factor which considers past returns and growth, and future business performance estimates from analysts.
This insider purchase could be a signal to investors about the insiders confidence in the future prospects of Friedman Industries Inc.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
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