Howard Brod Brownstein Buys 8,300 Shares of P & F Industries, Inc. (PFIN) Stock
P & F Industries, Inc. (NASDAQ:PFIN) Director Howard Brod Brownstein acquired 8,300 shares of the business’s stock in a transaction on Monday, August 14th. The shares were bought at an average cost of $5.99 per share, with a total value of $49,717.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of P & F Industries, Inc. (PFIN) traded down 0.3373% on Wednesday, hitting $6.2047. The company’s stock had a trading volume of 1,025 shares. P & F Industries, Inc. has a 52 week low of $5.60 and a 52 week high of $9.49. The firm’s market cap is $32.28 million. The stock’s 50-day moving average price is $5.98 and its 200-day moving average price is $6.91.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Investors of record on Monday, August 21st will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 3.22%. The ex-dividend date is Thursday, August 17th.
P & F Industries announced that its board has authorized a stock repurchase plan on Thursday, August 10th that allows the company to repurchase 100,000 outstanding shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.
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A hedge fund recently raised its stake in P & F Industries stock. Vanguard Group Inc. raised its stake in shares of P & F Industries, Inc. (NASDAQ:PFIN) by 2.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,257 shares of the company’s stock after buying an additional 645 shares during the period. Vanguard Group Inc. owned 0.67% of P & F Industries worth $148,000 as of its most recent SEC filing. 16.85% of the stock is owned by institutional investors and hedge funds.
About P & F Industries
P&F Industries, Inc conducts business through its subsidiaries. The Company operates through two segments: tools and other products (Tools), and hardware and accessories (Hardware). It conducts Tools business through a subsidiary, Continental Tool Group, Inc (Continental), which in turn operates through its subsidiaries, Florida Pneumatic Manufacturing Corporation (Florida Pneumatic) and Hy-Tech Machine, Inc (Hy-Tech).
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