King Luther Capital Management Corp Lowers Stake in Franklin Electric Co., Inc. (NASDAQ:FELE)

King Luther Capital Management Corp decreased its stake in Franklin Electric Co., Inc. (NASDAQ:FELE) by 0.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,181,656 shares of the industrial products company’s stock after selling 1,143 shares during the period. King Luther Capital Management Corp’s holdings in Franklin Electric were worth $115,152,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of FELE. Van ECK Associates Corp raised its position in shares of Franklin Electric by 40.0% during the 3rd quarter. Van ECK Associates Corp now owns 24,818 shares of the industrial products company’s stock worth $2,532,000 after purchasing an additional 7,092 shares during the period. Intech Investment Management LLC raised its position in shares of Franklin Electric by 420.9% during the 3rd quarter. Intech Investment Management LLC now owns 11,001 shares of the industrial products company’s stock worth $1,153,000 after purchasing an additional 8,889 shares during the period. PDT Partners LLC raised its position in shares of Franklin Electric by 241.8% during the 3rd quarter. PDT Partners LLC now owns 12,029 shares of the industrial products company’s stock worth $1,261,000 after purchasing an additional 8,510 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Franklin Electric by 19.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 2,800 shares of the industrial products company’s stock worth $293,000 after purchasing an additional 451 shares during the period. Finally, Citigroup Inc. raised its position in shares of Franklin Electric by 73.1% during the 3rd quarter. Citigroup Inc. now owns 58,923 shares of the industrial products company’s stock worth $6,176,000 after purchasing an additional 24,889 shares during the period. Hedge funds and other institutional investors own 79.98% of the company’s stock.

Franklin Electric Stock Down 2.2 %

Shares of Franklin Electric stock opened at $100.50 on Tuesday. Franklin Electric Co., Inc. has a twelve month low of $91.67 and a twelve month high of $111.94. The stock has a market capitalization of $4.59 billion, a price-to-earnings ratio of 26.10, a PEG ratio of 2.11 and a beta of 0.98. The business’s 50 day simple moving average is $99.77 and its 200-day simple moving average is $101.97. 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) last issued its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.03. Franklin Electric had a return on equity of 14.46% and a net margin of 8.92%. The business had revenue of $485.75 million during the quarter, compared to analyst estimates of $465.87 million. Equities research 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 disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were paid a dividend of $0.265 per share. The ex-dividend date was Thursday, February 6th. This is a positive change from Franklin Electric’s previous quarterly dividend of $0.25. This represents a $1.06 annualized dividend and a dividend yield of 1.05%. Franklin Electric’s dividend payout ratio (DPR) is currently 27.53%.

Insider Activity

In related news, insider Delancey W. Davis sold 961 shares of the 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 completion of the sale, the insider now directly owns 7,701 shares of the company’s stock, valued at approximately $794,281.14. This represents a 11.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.72% of the stock is currently owned by corporate insiders.

About Franklin Electric

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.