Bank of New York Mellon Corp lifted its position in Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 15.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 392,080 shares of the industrial products company's stock after acquiring an additional 53,825 shares during the quarter. Bank of New York Mellon Corp owned 0.86% of Franklin Electric worth $38,208,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the business. Spire Wealth Management bought a new stake in shares of Franklin Electric during the fourth quarter valued at approximately $29,000. Trust Co. of Vermont bought a new stake in Franklin Electric during the 4th quarter valued at $40,000. Blue Trust Inc. lifted its holdings in shares of Franklin Electric by 66.2% in the 4th quarter. Blue Trust Inc. now owns 497 shares of the industrial products company's stock worth $52,000 after buying an additional 198 shares during the period. Point72 DIFC Ltd bought a new position in Franklin Electric during the 3rd quarter worth about $77,000. Finally, Covestor Ltd raised its holdings in shares of Franklin Electric by 15.6% in the 3rd quarter. Covestor Ltd now owns 765 shares of the industrial products company's stock valued at $80,000 after purchasing an additional 103 shares in the last quarter. Institutional investors own 79.98% of the company's stock.
Insider Transactions at Franklin Electric
In related news, insider Delancey W. Davis sold 961 shares of the company's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $103.14, for a total transaction of $99,117.54. Following the transaction, the insider now directly 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 filing with the SEC, which is available at this link. Insiders own 2.72% of the company's stock.
Franklin Electric Stock Down 2.2 %
Shares of FELE traded down $2.25 during mid-day trading on Monday, hitting $100.50. The company's stock had a trading volume of 278,387 shares, compared to its average volume of 207,135. The firm has a market capitalization of $4.59 billion, a price-to-earnings ratio of 26.10, a PEG ratio of 2.11 and a beta of 0.98. 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 2.22, a quick ratio of 1.06 and a debt-to-equity ratio of 0.01. The company's 50-day moving average is $99.71 and its 200-day moving average is $101.97.
Franklin Electric (NASDAQ:FELE - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $0.72 earnings per share for the quarter, beating analysts' consensus estimates of $0.69 by $0.03. The business had revenue of $485.75 million for the quarter, compared to analysts' expectations of $465.87 million. Franklin Electric had a net margin of 8.92% and a return on equity of 14.46%. On average, equities research analysts forecast that Franklin Electric Co., Inc. will post 4.19 EPS for the current fiscal year.
Franklin Electric Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were issued a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 1.05%. The ex-dividend date was Thursday, February 6th. This is a positive change from Franklin Electric's previous quarterly dividend of $0.25. 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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