Franklin Electric Co. (NASDAQ:FELE) insider Delancey W. Davis sold 820 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $48.83, for a total transaction of $40,040.60. Following the sale, the insider now directly owns 18,486 shares in the company, valued at approximately $902,671.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
FELE stock traded up $0.34 during midday trading on Friday, reaching $50.57. 4,138 shares of the company were exchanged, compared to its average volume of 96,226. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.98 and a current ratio of 2.15. Franklin Electric Co. has a 1-year low of $38.87 and a 1-year high of $55.59. The stock’s 50-day simple moving average is $45.83 and its 200 day simple moving average is $47.69. The company has a market cap of $2.23 billion, a price-to-earnings ratio of 22.39, a price-to-earnings-growth ratio of 4.35 and a beta of 1.31.
Franklin Electric (NASDAQ:FELE) last announced its earnings results on Tuesday, July 23rd. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.04). The business had revenue of $355.30 million for the quarter, compared to analysts’ expectations of $358.31 million. Franklin Electric had a return on equity of 13.17% and a net margin of 7.36%. The business’s revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the business posted $0.65 earnings per share. On average, research analysts anticipate that Franklin Electric Co. will post 2.21 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were given a dividend of $0.145 per share. The ex-dividend date was Wednesday, July 31st. This represents a $0.58 dividend on an annualized basis and a dividend yield of 1.15%. Franklin Electric’s dividend payout ratio (DPR) is presently 25.66%.
A number of research firms have weighed in on FELE. BidaskClub raised shares of Franklin Electric from a “hold” rating to a “buy” rating in a report on Friday. Zacks Investment Research raised shares of Franklin Electric from a “sell” rating to a “hold” rating in a report on Monday.
Several institutional investors and hedge funds have recently made changes to their positions in FELE. Impax Asset Management Group plc grew its position in shares of Franklin Electric by 10.1% during the second quarter. Impax Asset Management Group plc now owns 2,872,860 shares of the industrial products company’s stock worth $136,461,000 after acquiring an additional 263,676 shares during the last quarter. Nuveen Asset Management LLC purchased a new position in shares of Franklin Electric during the second quarter worth approximately $9,727,000. Wells Fargo & Company MN grew its position in shares of Franklin Electric by 8.5% during the second quarter. Wells Fargo & Company MN now owns 2,017,655 shares of the industrial products company’s stock worth $95,840,000 after acquiring an additional 158,355 shares during the last quarter. ClariVest Asset Management LLC purchased a new position in shares of Franklin Electric during the first quarter worth approximately $6,841,000. Finally, AQR Capital Management LLC grew its position in shares of Franklin Electric by 3,156.7% during the second quarter. AQR Capital Management LLC now owns 137,726 shares of the industrial products company’s stock worth $6,542,000 after acquiring an additional 133,497 shares during the last quarter. Institutional investors and hedge funds own 77.53% of the company’s stock.
About Franklin Electric
Franklin Electric Co, Inc, together with its subsidiaries, designs, manufactures, and distributes water and fuel pumping systems worldwide. It operates in three segments: Water Systems, Fueling Systems, and Distribution. The Water Systems segment offers submersible motors, pumps, drives, electronic controls, monitoring devices, and related parts and equipment.
Further Reading: Sell-Side Analysts
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