Entropy Technologies LP Makes New Investment in Franklin Electric Co., Inc. (NASDAQ:FELE)

Entropy Technologies LP acquired a new stake in Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 5,489 shares of the industrial products company's stock, valued at approximately $535,000.

Several other institutional investors have also modified their holdings of the stock. Allspring Global Investments Holdings LLC lifted its stake in shares of Franklin Electric by 2.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,030,238 shares of the industrial products company's stock valued at $212,810,000 after purchasing an additional 40,248 shares during the last quarter. Geode Capital Management LLC lifted its stake 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 valued at $105,264,000 after purchasing an additional 9,170 shares during the last quarter. Boston Trust Walden Corp lifted its stake in shares of Franklin Electric by 0.6% in the 3rd quarter. Boston Trust Walden Corp now owns 659,057 shares of the industrial products company's stock valued at $69,082,000 after purchasing an additional 3,847 shares during the last quarter. KBC Group NV lifted its stake in shares of Franklin Electric by 7.3% during the 4th quarter. KBC Group NV now owns 415,179 shares of the industrial products company's stock worth $40,459,000 after acquiring an additional 28,121 shares during the last quarter. Finally, Tributary Capital Management LLC lifted its stake in shares of Franklin Electric by 1.2% during the 4th quarter. Tributary Capital Management LLC now owns 181,123 shares of the industrial products company's stock worth $17,650,000 after acquiring an additional 2,212 shares during the last quarter. 79.98% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird decreased their price target on Franklin Electric from $107.00 to $105.00 and set a "neutral" rating for the company in a research note on Wednesday, October 30th.

Franklin Electric Trading Down 0.9 %

Shares of FELE stock traded down $0.88 on Friday, reaching $99.98. 311,369 shares of the company's stock were exchanged, compared to its average volume of 181,699. Franklin Electric Co., Inc. has a 52 week low of $91.67 and a 52 week high of $111.94. The company has a current ratio of 2.40, a quick ratio of 1.06 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $4.57 billion, a PE ratio of 25.31, a P/E/G ratio of 1.97 and a beta of 1.00. The company's fifty day simple moving average is $99.54 and its 200 day simple moving average is $101.56.

Franklin Electric Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Thursday, February 6th will be paid a dividend of $0.265 per share. This is a positive change from Franklin Electric's previous quarterly dividend of $0.25. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend is Thursday, February 6th. Franklin Electric's dividend payout ratio (DPR) is currently 26.84%.

Franklin Electric 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.