Charles Schwab Investment Management Inc. boosted its stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 2.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 503,775 shares of the industrial products company's stock after buying an additional 10,580 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.10% of Franklin Electric worth $49,093,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its holdings in shares of Franklin Electric by 0.9% in the 3rd 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 period. Allianz Asset Management GmbH raised its stake in shares of Franklin Electric by 21.6% during the 4th quarter. Allianz Asset Management GmbH now owns 811,682 shares of the industrial products company's stock worth $79,098,000 after buying an additional 143,917 shares during the last quarter. KBC Group NV boosted its position in shares of Franklin Electric by 7.3% in the 4th quarter. KBC Group NV now owns 415,179 shares of the industrial products company's stock worth $40,459,000 after buying an additional 28,121 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Franklin Electric by 15.9% during the 4th 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 acquiring an additional 53,825 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in Franklin Electric by 3.9% during the fourth quarter. Principal Financial Group Inc. now owns 205,212 shares of the industrial products company's stock worth $19,998,000 after acquiring an additional 7,628 shares during the last quarter. 79.98% of the stock is owned by hedge funds and other institutional investors.
Franklin Electric Price Performance
Shares of NASDAQ FELE traded up $0.20 on Monday, hitting $100.28. The company's stock had a trading volume of 356,469 shares, compared to its average volume of 165,447. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.22 and a quick ratio of 1.06. The stock has a 50 day moving average of $100.00 and a 200-day moving average of $101.89. Franklin Electric Co., Inc. has a 12-month low of $91.67 and a 12-month high of $111.94. The company has a market capitalization of $4.58 billion, a price-to-earnings ratio of 26.05, a price-to-earnings-growth ratio of 2.11 and a beta of 0.98.
Franklin Electric (NASDAQ:FELE - Get Free Report) last posted its earnings results on Tuesday, February 18th. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.69 by $0.03. The firm had revenue of $485.75 million for the quarter, compared to analyst estimates of $465.87 million. Franklin Electric had a return on equity of 14.46% and a net margin of 8.92%. As a group, research analysts predict that Franklin Electric Co., Inc. will post 4.19 EPS for the current year.
Franklin Electric Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were issued a $0.265 dividend. This is a boost from Franklin Electric's previous quarterly dividend of $0.25. The ex-dividend date was Thursday, February 6th. This represents a $1.06 annualized dividend and a yield of 1.06%. Franklin Electric's payout ratio is 27.53%.
Insider Activity
In related news, insider Delancey W. Davis sold 961 shares of the business's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $103.14, for a total value of $99,117.54. Following the completion of the sale, the insider now directly owns 7,701 shares in the company, valued at approximately $794,281.14. The trade was a 11.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.72% of the company's stock.
About Franklin Electric
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Free Report)
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.
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