KLP Kapitalforvaltning AS Invests $1.57 Million in Franklin Electric Co., Inc. (NASDAQ:FELE)

KLP Kapitalforvaltning AS bought a new position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 16,100 shares of the industrial products company's stock, valued at approximately $1,569,000.

A number of other large investors have also modified their holdings of FELE. Geode Capital Management LLC boosted its position in Franklin Electric by 0.9% during the third quarter. Geode Capital Management LLC now owns 1,004,057 shares of the industrial products company's stock worth $105,264,000 after acquiring an additional 9,170 shares during the last quarter. Allianz Asset Management GmbH lifted its stake in Franklin Electric by 21.6% in the 4th quarter. Allianz Asset Management GmbH now owns 811,682 shares of the industrial products company's stock worth $79,098,000 after purchasing an additional 143,917 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Franklin Electric by 2.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 503,775 shares of the industrial products company's stock worth $49,093,000 after purchasing an additional 10,580 shares during the last quarter. KBC Group NV grew its position in shares of Franklin Electric by 7.3% in the fourth quarter. KBC Group NV now owns 415,179 shares of the industrial products company's stock valued at $40,459,000 after purchasing an additional 28,121 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Franklin Electric by 15.9% in the fourth quarter. Bank of New York Mellon Corp now owns 392,080 shares of the industrial products company's stock valued at $38,208,000 after purchasing an additional 53,825 shares during the last quarter. Hedge funds and other institutional investors own 79.98% of the company's stock.

Insider Buying and Selling

In other news, insider Delancey W. Davis sold 961 shares of the company's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $103.14, for a total value of $99,117.54. Following the transaction, the insider now owns 7,701 shares of the company's stock, valued at $794,281.14. This represents a 11.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.72% of the stock is currently owned by company insiders.

Franklin Electric Trading Up 0.8 %

NASDAQ FELE traded up $0.76 on Wednesday, reaching $95.87. 168,821 shares of the company were exchanged, compared to its average volume of 190,863. The company has a current ratio of 2.22, a quick ratio of 1.06 and a debt-to-equity ratio of 0.01. The business's fifty day moving average price is $100.02 and its 200 day moving average price is $101.75. The stock has a market capitalization of $4.39 billion, a P/E ratio of 24.90, a price-to-earnings-growth ratio of 2.11 and a beta of 0.98. Franklin Electric Co., Inc. has a fifty-two week low of $91.67 and a fifty-two week high of $111.94.

Franklin Electric (NASDAQ:FELE - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.69 by $0.03. Franklin Electric had a return on equity of 14.46% and a net margin of 8.92%. The business had revenue of $485.75 million for the quarter, compared to analyst estimates of $465.87 million. Analysts forecast that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current year.

Franklin Electric Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were issued a $0.265 dividend. The ex-dividend date of this dividend was Thursday, February 6th. This is a boost from Franklin Electric's previous quarterly dividend of $0.25. This represents a $1.06 dividend on an annualized basis and a yield of 1.11%. Franklin Electric's dividend payout ratio is currently 27.53%.

Franklin Electric Company Profile

Franklin Electric Co, Inc, together with its subsidiaries, designs, manufactures, and distributes water and fuel pumping systems worldwide. The company operates through Water Systems, Fueling Systems, and Distribution segments. The Water Systems segment offers submersible motors, drives, pumps, electronic controls, water treatment systems, monitoring devices, and related parts and equipment.