Millennium Management LLC Has $4.02 Million Holdings in Franklin Electric Co., Inc. (NASDAQ:FELE)

Millennium Management LLC decreased its position in Franklin Electric Co., Inc. (NASDAQ:FELE) by 63.4% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 41,714 shares of the industrial products company’s stock after selling 72,270 shares during the period. Millennium Management LLC’s holdings in Franklin Electric were worth $4,018,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of 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 valued at $507,489,000 after buying an additional 30,408 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Franklin Electric by 0.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,989,990 shares of the industrial products company’s stock valued at $191,676,000 after acquiring an additional 14,762 shares in the last quarter. Earnest Partners LLC raised its holdings in shares of Franklin Electric by 2.6% during the second quarter. Earnest Partners LLC now owns 1,563,125 shares of the industrial products company’s stock worth $150,560,000 after acquiring an additional 39,478 shares in the last quarter. Vaughan Nelson Investment Management L.P. boosted its position in Franklin Electric by 6.4% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 361,654 shares of the industrial products company’s stock valued at $34,833,000 after purchasing an additional 21,890 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in Franklin Electric by 1.0% in the first quarter. Principal Financial Group Inc. now owns 216,681 shares of the industrial products company’s stock valued at $23,144,000 after purchasing an additional 2,147 shares in the last quarter. 79.98% of the stock is owned by institutional investors and hedge funds.

Franklin Electric Stock Performance

Shares of FELE stock opened at $105.31 on Monday. The firm has a market cap of $4.85 billion, a P/E ratio of 26.20, a PEG ratio of 2.07 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. Franklin Electric Co., Inc. has a fifty-two week low of $82.61 and a fifty-two week high of $108.39. The stock’s 50-day moving average is $100.74 and its two-hundred day moving average is $100.26.

Franklin Electric (NASDAQ:FELE) last issued its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.06). Franklin Electric had a net margin of 9.35% and a return on equity of 15.57%. The business had revenue of $543.30 million for the quarter, compared to the consensus estimate of $570.80 million. During the same period in the previous year, the business posted $1.27 EPS. Franklin Electric’s revenue was down 4.6% compared to the same quarter last year. Analysts predict that Franklin Electric Co., Inc. will post 4.22 earnings per share for the current fiscal year.

Franklin Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $1.00 annualized dividend and a yield of 0.95%. Franklin Electric’s payout ratio is 24.88%.

Insider Buying and Selling at Franklin Electric

In other news, insider Gregg C. Sengstack sold 5,396 shares of the company’s stock in a transaction that occurred 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 directly owns 98,093 shares in the company, valued at $10,460,637.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Gregg C. Sengstack sold 5,396 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $106.64, for a total transaction of $575,429.44. Following the transaction, the insider now owns 98,093 shares in the company, valued at approximately $10,460,637.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Gregg C. Sengstack sold 5,000 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $103.87, for a total transaction of $519,350.00. Following the completion of the sale, the insider now owns 108,489 shares of the company’s stock, valued at approximately $11,268,752.43. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,486 shares of company stock valued at $2,568,171 in the last 90 days. 2.72% of the stock is currently owned by insiders.

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.