Norges Bank acquired a new stake in Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 584,588 shares of the industrial products company's stock, valued at approximately $56,968,000. Norges Bank owned 1.28% of Franklin Electric at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. BHK Investment Advisors LLC lifted its position in shares of Franklin Electric by 2.5% in the 4th quarter. BHK Investment Advisors LLC now owns 5,139 shares of the industrial products company's stock worth $501,000 after buying an additional 125 shares during the last quarter. Sanctuary Advisors LLC grew its stake in shares of Franklin Electric by 3.4% in the 4th quarter. Sanctuary Advisors LLC now owns 4,372 shares of the industrial products company's stock worth $434,000 after purchasing an additional 145 shares during the last quarter. MML Investors Services LLC grew its holdings in shares of Franklin Electric by 2.6% in the 3rd quarter. MML Investors Services LLC now owns 6,048 shares of the industrial products company's stock worth $634,000 after acquiring an additional 156 shares during the last quarter. Inspire Investing LLC increased its stake in Franklin Electric by 4.1% in the 4th quarter. Inspire Investing LLC now owns 4,192 shares of the industrial products company's stock worth $409,000 after purchasing an additional 164 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in Franklin Electric by 14.5% in the 4th quarter. GAMMA Investing LLC now owns 1,398 shares of the industrial products company's stock worth $136,000 after purchasing an additional 177 shares during the period. Institutional investors and hedge funds own 79.98% of the company's stock.
Franklin Electric Stock Down 1.5 %
FELE traded down $1.30 on Tuesday, reaching $84.21. 309,583 shares of the company traded hands, compared to its average volume of 195,929. 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 52-week low of $83.24 and a 52-week high of $111.94. The stock's 50 day moving average price is $98.78 and its 200-day moving average price is $101.24. The company has a market cap of $3.86 billion, a price-to-earnings ratio of 21.87, a PEG ratio of 2.11 and a beta of 1.02.
Franklin Electric (NASDAQ:FELE - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $0.72 EPS for the quarter, topping analysts' consensus estimates of $0.69 by $0.03. The business had revenue of $485.75 million for the quarter, compared to analyst estimates of $465.87 million. Franklin Electric had a return on equity of 14.46% and a net margin of 8.92%. On average, sell-side analysts expect that Franklin Electric Co., Inc. will post 4.19 EPS for the current fiscal year.
Franklin Electric Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were issued a $0.265 dividend. This is a boost from Franklin Electric's previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $1.06 annualized dividend and a yield of 1.26%. Franklin Electric's dividend payout ratio (DPR) is currently 27.53%.
Insider Transactions at Franklin Electric
In other Franklin Electric news, insider Delancey W. Davis sold 961 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $103.14, for a total transaction of $99,117.54. Following the sale, the insider now directly owns 7,701 shares in the company, valued at approximately $794,281.14. This trade represents a 11.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 2.72% of the stock is owned by corporate insiders.
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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