Friedman Industries repurchases 400K shares from Metal One for $5.1M; authorizes new 15% buyback program

FRIEDMAN INDUSTRIES INC

Repurchased 400,041 shares from Metal One at $12.76/share for aggregate ~$5.1M on Dec 13, 2023.
After repurchase, 6,971,824 shares outstanding; program authorizes up to 1,045,774 additional shares (15% of post-repurchase float).
Program expires Dec 13, 2026; repurchases may be made via open market, block trades, or private transactions.
CEO Michael Taylor cites confidence in future value creation and recent strategic investments expanding capabilities.

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