By Dean Seal
Friedman Industries has repurchased 400,041 shares of its stock from Metal One for about $5.1 million.
The transaction comes after steel-products-maker Friedman Industries’ board authorized a buyback program last week to repurchase more than 1 million shares, or about 15% of its outstanding equity, through December 2026.
Chief Executive Michael Taylor said the board’s approval of the program and the Metal One buyback reflects its confidence in the company’s future.
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