CIBC Asset Management Inc purchased a new position in Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 2,469 shares of the industrial products company's stock, valued at approximately $241,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Blue Trust Inc. boosted its position in Franklin Electric by 55.7% in the 3rd quarter. Blue Trust Inc. now owns 299 shares of the industrial products company's stock worth $29,000 after purchasing an additional 107 shares in the last quarter. Signaturefd LLC boosted its position in Franklin Electric by 29.9% in the 3rd quarter. Signaturefd LLC now owns 712 shares of the industrial products company's stock worth $75,000 after purchasing an additional 164 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in Franklin Electric in the 3rd quarter worth approximately $246,000. Van ECK Associates Corp boosted its position in Franklin Electric by 40.0% in the 3rd quarter. Van ECK Associates Corp now owns 24,818 shares of the industrial products company's stock worth $2,532,000 after purchasing an additional 7,092 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its position in Franklin Electric by 16.0% in the 3rd quarter. QRG Capital Management Inc. now owns 5,698 shares of the industrial products company's stock worth $597,000 after purchasing an additional 786 shares in the last quarter. Institutional investors and hedge funds own 79.98% of the company's stock.
Insider Activity at Franklin Electric
In related news, insider Delancey W. Davis sold 961 shares of the 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 completion of the transaction, the insider now directly owns 7,701 shares of the company's stock, valued at approximately $794,281.14. This represents a 11.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.72% of the stock is owned by corporate insiders.
Franklin Electric Stock Performance
Franklin Electric stock traded up $0.92 during mid-day trading on Friday, hitting $102.15. The company had a trading volume of 304,184 shares, compared to its average volume of 203,992. The company has a current ratio of 2.22, a quick ratio of 1.06 and a debt-to-equity ratio of 0.01. Franklin Electric Co., Inc. has a 12-month low of $91.67 and a 12-month high of $111.94. The company's fifty day moving average is $99.48 and its 200-day moving average is $101.88. The company has a market capitalization of $4.67 billion, a price-to-earnings ratio of 26.53, a P/E/G ratio of 2.11 and a beta of 1.00.
Franklin Electric (NASDAQ:FELE - Get Free Report) last announced 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. Franklin Electric had a return on equity of 14.46% and a net margin of 8.92%. The firm had revenue of $485.75 million for the quarter, compared to analyst estimates of $465.87 million. Equities research analysts predict that Franklin Electric Co., Inc. will post 4.19 EPS for the current year.
Franklin Electric Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were paid a $0.265 dividend. This is an increase from Franklin Electric's previous quarterly dividend of $0.25. This represents a $1.06 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend was Thursday, February 6th. Franklin Electric's dividend payout ratio is currently 27.53%.
Franklin Electric Profile
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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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