Mutual of America Capital Management LLC lowered its position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 88.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,952 shares of the industrial products company's stock after selling 44,795 shares during the quarter. Mutual of America Capital Management LLC's holdings in Franklin Electric were worth $580,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Proficio Capital Partners LLC acquired a new position in shares of Franklin Electric in the 4th quarter valued at about $134,000. Oppenheimer Asset Management Inc. boosted its stake in Franklin Electric by 0.9% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 21,587 shares of the industrial products company's stock valued at $2,104,000 after acquiring an additional 190 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Franklin Electric by 15.9% during the fourth 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 purchasing an additional 53,825 shares during the last quarter. BHK Investment Advisors LLC raised its position in shares of Franklin Electric by 2.5% during the 4th quarter. BHK Investment Advisors LLC now owns 5,139 shares of the industrial products company's stock worth $501,000 after purchasing an additional 125 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Franklin Electric in the 4th quarter worth approximately $661,000. Institutional investors own 79.98% of the company's stock.
Franklin Electric Stock Performance
NASDAQ:FELE traded down $1.56 during midday trading on Thursday, reaching $98.14. 107,970 shares of the company traded hands, compared to its average volume of 206,293. Franklin Electric Co., Inc. has a twelve month low of $91.67 and a twelve month high of $111.94. 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 company has a fifty day moving average price of $99.88 and a 200 day moving average price of $101.94. The firm has a market capitalization of $4.49 billion, a price-to-earnings ratio of 25.49, a price-to-earnings-growth ratio of 2.11 and a beta of 0.98.
Franklin Electric (NASDAQ:FELE - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.03. Franklin Electric had a net margin of 8.92% and a return on equity of 14.46%. The company had revenue of $485.75 million during the quarter, compared to the consensus estimate of $465.87 million. On average, analysts expect that Franklin Electric Co., Inc. will post 4.19 EPS for the current fiscal year.
Franklin Electric Increases Dividend
The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date was Thursday, February 6th. This is a boost from Franklin Electric's previous quarterly dividend of $0.25. Franklin Electric's payout ratio is 27.53%.
Insider Transactions 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 stock was sold at an average price of $103.14, for a total transaction of $99,117.54. Following the sale, the insider now owns 7,701 shares of the company's stock, valued at $794,281.14. The trade was a 11.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.72% of the company's stock.
Franklin Electric Company 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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