Franklin Electric (NASDAQ:FELE) Shares Gap Down - What's Next?

Franklin Electric Co., Inc. (NASDAQ:FELE - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $102.55, but opened at $93.81. Franklin Electric shares last traded at $95.08, with a volume of 22,559 shares changing hands.

Franklin Electric Price Performance

The company has a market cap of $4.43 billion, a PE ratio of 25.51, a PEG ratio of 2.02 and a beta of 0.95. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.65 and a quick ratio of 1.14. The stock's 50-day moving average is $101.99 and its 200 day moving average is $100.22.

Franklin Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.04%. The ex-dividend date is Thursday, November 7th. Franklin Electric's dividend payout ratio (DPR) is 24.88%.

Insider Activity

In other news, insider Gregg C. Sengstack sold 5,396 shares of the business's stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $106.64, for a total transaction of $575,429.44. Following the completion of the transaction, the insider now owns 98,093 shares of the company's stock, valued at approximately $10,460,637.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.72% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Franklin Electric

Several hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC acquired a new stake in Franklin Electric in the first quarter valued at $968,000. Vanguard Group Inc. boosted its position in Franklin Electric by 0.6% during the first quarter. Vanguard Group Inc. now owns 4,751,322 shares of the industrial products company's stock worth $507,489,000 after purchasing an additional 30,408 shares during the period. CANADA LIFE ASSURANCE Co increased its stake in shares of Franklin Electric by 12.3% in the first quarter. CANADA LIFE ASSURANCE Co now owns 48,629 shares of the industrial products company's stock valued at $5,197,000 after buying an additional 5,311 shares during the period. SG Americas Securities LLC raised its position in Franklin Electric by 357.6% in the 2nd quarter. SG Americas Securities LLC now owns 9,230 shares of the industrial products company's stock valued at $889,000 after buying an additional 7,213 shares during the last quarter. Finally, Edgestream Partners L.P. raised its holdings in shares of Franklin Electric by 328.4% in the 2nd quarter. Edgestream Partners L.P. now owns 64,431 shares of the industrial products company's stock valued at $6,206,000 after acquiring an additional 49,391 shares in the last quarter. 79.98% of the stock is owned by hedge funds and other institutional investors.

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.