Teacher Retirement System of Texas lessened its holdings in Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 10.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 67,286 shares of the industrial products company's stock after selling 7,711 shares during the quarter. Teacher Retirement System of Texas owned about 0.15% of Franklin Electric worth $6,557,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Allianz Asset Management GmbH boosted its stake in shares of Franklin Electric by 21.6% in the fourth quarter. Allianz Asset Management GmbH now owns 811,682 shares of the industrial products company's stock worth $79,098,000 after buying an additional 143,917 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in Franklin Electric in the 4th quarter worth approximately $134,000. Wealthfront Advisers LLC acquired a new stake in shares of Franklin Electric during the 4th quarter worth approximately $8,046,000. Barclays PLC lifted its stake in shares of Franklin Electric by 237.3% in the 3rd quarter. Barclays PLC now owns 87,620 shares of the industrial products company's stock valued at $9,184,000 after purchasing an additional 61,640 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in 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 worth $38,208,000 after buying an additional 53,825 shares in the last quarter. 79.98% of the stock is owned by hedge funds and other institutional investors.
Franklin Electric Stock Performance
FELE traded up $0.14 on Wednesday, reaching $97.97. The stock had a trading volume of 179,018 shares, compared to its average volume of 172,272. The business's 50-day moving average price is $100.42 and its two-hundred day moving average price is $101.77. The company has a market cap of $4.49 billion, a P/E ratio of 25.45, a price-to-earnings-growth ratio of 2.11 and a beta of 0.98. Franklin Electric Co., Inc. has a 12-month low of $91.67 and a 12-month 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.
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 for the quarter, beating the consensus estimate of $0.69 by $0.03. The firm had revenue of $485.75 million during 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%. Sell-side analysts forecast that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current year.
Franklin Electric Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were paid a $0.265 dividend. The ex-dividend date was Thursday, February 6th. This represents a $1.06 dividend on an annualized basis and a yield of 1.08%. This is a boost from Franklin Electric's previous quarterly dividend of $0.25. Franklin Electric's dividend payout ratio (DPR) is currently 27.53%.
Insider Buying and Selling
In related news, insider Delancey W. Davis sold 961 shares of Franklin Electric stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $103.14, for a total value of $99,117.54. Following the sale, the insider now directly owns 7,701 shares in the company, valued at approximately $794,281.14. The trade was a 11.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.72% of the stock is owned by insiders.
About Franklin Electric
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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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