Cibc World Markets Corp Invests $413,000 in Franklin Electric Co., Inc. (NASDAQ:FELE)

Cibc World Markets Corp purchased a new position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,239 shares of the industrial products company's stock, valued at approximately $413,000.

Several other institutional investors also recently modified their holdings of the business. Victory Capital Management Inc. lifted its holdings in Franklin Electric by 1.6% during the 3rd quarter. Victory Capital Management Inc. now owns 14,300 shares of the industrial products company's stock worth $1,499,000 after buying an additional 227 shares during the period. Caprock Group LLC acquired a new position in shares of Franklin Electric in the third quarter worth approximately $208,000. Intech Investment Management LLC increased its position in Franklin Electric by 420.9% during the 3rd quarter. Intech Investment Management LLC now owns 11,001 shares of the industrial products company's stock valued at $1,153,000 after purchasing an additional 8,889 shares during the period. Citigroup Inc. raised its holdings in Franklin Electric by 73.1% during the 3rd quarter. Citigroup Inc. now owns 58,923 shares of the industrial products company's stock worth $6,176,000 after purchasing an additional 24,889 shares during the last quarter. Finally, Quantbot Technologies LP lifted its position in shares of Franklin Electric by 6,578.0% in the 3rd quarter. Quantbot Technologies LP now owns 12,421 shares of the industrial products company's stock worth $1,302,000 after purchasing an additional 12,235 shares during the period. Institutional investors own 79.98% of the company's stock.

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Franklin Electric Trading Down 0.8 %

Shares of FELE traded down $0.77 during trading hours on Thursday, hitting $97.20. 178,057 shares of the stock were exchanged, compared to its average volume of 172,351. The firm has a market capitalization of $4.45 billion, a P/E ratio of 25.25, a price-to-earnings-growth ratio of 2.11 and a beta of 0.98. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.22 and a quick ratio of 1.06. Franklin Electric Co., Inc. has a fifty-two week low of $91.67 and a fifty-two week high of $111.94. The business has a 50-day moving average of $100.42 and a 200-day moving average of $101.77.

Franklin Electric (NASDAQ:FELE - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $485.75 million for the quarter, compared to the consensus estimate of $465.87 million. On average, research analysts expect that Franklin Electric Co., Inc. will post 4.19 EPS for the current year.

Franklin Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were paid a $0.265 dividend. The ex-dividend date was Thursday, February 6th. This represents a $1.06 annualized dividend and a dividend yield of 1.09%. This is a positive change from Franklin Electric's previous quarterly dividend of $0.25. Franklin Electric's payout ratio is currently 27.53%.

Insider Activity at Franklin Electric

In other Franklin Electric news, insider Delancey W. Davis sold 961 shares of Franklin Electric stock in a transaction 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 of the company's stock, 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 SEC, which is accessible through this hyperlink. 2.72% of the stock is owned by corporate insiders.

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.