Royce & Associates LP acquired a new stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,973 shares of the industrial products company's stock, valued at approximately $387,000.
Several other large investors also recently added to or reduced their stakes in FELE. Spire Wealth Management purchased a new position in Franklin Electric during the fourth quarter valued at approximately $29,000. Trust Co. of Vermont acquired a new position in shares of Franklin Electric in the fourth quarter worth $40,000. Blue Trust Inc. raised its holdings in shares of Franklin Electric by 66.2% during the fourth quarter. Blue Trust Inc. now owns 497 shares of the industrial products company's stock worth $52,000 after acquiring an additional 198 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in Franklin Electric by 189.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 642 shares of the industrial products company's stock valued at $62,000 after purchasing an additional 420 shares during the last quarter. Finally, Point72 DIFC Ltd acquired a new stake in Franklin Electric during the third quarter valued at $77,000. 79.98% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other 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 completion of the sale, the insider now owns 7,701 shares in the company, valued at approximately $794,281.14. This represents a 11.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.72% of the company's stock.
Franklin Electric Stock Up 0.1 %
FELE stock traded up $0.14 during mid-day trading on Wednesday, hitting $97.97. The stock had a trading volume of 179,018 shares, compared to its average volume of 172,153. The stock has a market capitalization of $4.49 billion, a price-to-earnings ratio of 25.45, a PEG ratio of 2.11 and a beta of 0.98. The company has a current ratio of 2.22, a quick ratio of 1.06 and a debt-to-equity ratio of 0.01. Franklin Electric Co., Inc. has a 1-year low of $91.67 and a 1-year high of $111.94. The company has a fifty day moving average of $100.41 and a 200 day moving average of $101.80.
Franklin Electric (NASDAQ:FELE - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $0.72 earnings per share 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 firm had revenue of $485.75 million for the quarter, compared to analyst estimates of $465.87 million. On average, equities 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 disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were issued a $0.265 dividend. The ex-dividend date of this dividend was Thursday, February 6th. This is a boost from Franklin Electric's previous quarterly dividend of $0.25. This represents a $1.06 dividend on an annualized basis and a yield of 1.08%. Franklin Electric's dividend payout ratio is currently 27.53%.
Franklin Electric Profile
(
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.
Featured Stories
Before you consider Franklin Electric, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Franklin Electric wasn't on the list.
While Franklin Electric currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
