Franklin Electric Co. (NASDAQ:FELE) Shares Bought by Tributary Capital Management LLC

Tributary Capital Management LLC grew its stake in Franklin Electric Co. (NASDAQ:FELE) by 13.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 438,795 shares of the industrial products company’s stock after acquiring an additional 50,543 shares during the period. Franklin Electric accounts for 1.6% of Tributary Capital Management LLC’s holdings, making the stock its 17th biggest holding. Tributary Capital Management LLC owned about 0.95% of Franklin Electric worth $22,418,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Bank of New York Mellon Corp boosted its position in Franklin Electric by 2.4% during the third quarter. Bank of New York Mellon Corp now owns 704,987 shares of the industrial products company’s stock worth $33,311,000 after acquiring an additional 16,835 shares during the last quarter. BlackRock Inc. boosted its position in Franklin Electric by 4.1% during the third quarter. BlackRock Inc. now owns 6,031,721 shares of the industrial products company’s stock worth $284,997,000 after acquiring an additional 240,251 shares during the last quarter. MetLife Investment Advisors LLC boosted its position in Franklin Electric by 56.7% during the third quarter. MetLife Investment Advisors LLC now owns 33,076 shares of the industrial products company’s stock worth $1,563,000 after acquiring an additional 11,972 shares during the last quarter. Teachers Advisors LLC boosted its position in Franklin Electric by 1.3% during the third quarter. Teachers Advisors LLC now owns 91,249 shares of the industrial products company’s stock worth $4,312,000 after acquiring an additional 1,187 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in Franklin Electric by 7.3% during the third quarter. Legal & General Group Plc now owns 92,690 shares of the industrial products company’s stock worth $4,379,000 after acquiring an additional 6,281 shares during the last quarter. Institutional investors and hedge funds own 78.57% of the company’s stock.

Shares of FELE stock opened at $47.13 on Friday. The company has a current ratio of 2.13, a quick ratio of 0.95 and a debt-to-equity ratio of 0.13. Franklin Electric Co. has a 12 month low of $38.87 and a 12 month high of $55.59. The stock has a market cap of $2.29 billion, a price-to-earnings ratio of 20.85, a PEG ratio of 4.20 and a beta of 1.32.

Franklin Electric (NASDAQ:FELE) last released its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.19). The company had revenue of $290.70 million during the quarter, compared to analysts’ expectations of $304.61 million. Franklin Electric had a net margin of 7.25% and a return on equity of 13.11%. Franklin Electric’s revenue was down 1.7% on a year-over-year basis. During the same period last year, the firm posted $0.45 earnings per share. On average, research analysts anticipate that Franklin Electric Co. will post 2.35 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Thursday, May 2nd will be paid a $0.145 dividend. This represents a $0.58 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend is Wednesday, May 1st. Franklin Electric’s dividend payout ratio (DPR) is 25.66%.

In other news, Director Thomas R. Verhage sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $55.21, for a total value of $110,420.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP John J. Haines sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, February 21st. The shares were sold at an average price of $55.18, for a total transaction of $220,720.00. Following the completion of the sale, the vice president now directly owns 41,785 shares in the company, valued at $2,305,696.30. The disclosure for this sale can be found here. Insiders sold a total of 14,425 shares of company stock worth $768,583 over the last three months. Insiders own 2.88% of the company’s stock.

A number of research firms recently weighed in on FELE. Zacks Investment Research lowered shares of Franklin Electric from a “hold” rating to a “sell” rating in a research report on Wednesday, April 17th. BidaskClub raised shares of Franklin Electric from a “hold” rating to a “buy” rating in a research note on Wednesday, February 20th. Boenning Scattergood reaffirmed a “buy” rating and set a $54.00 target price on shares of Franklin Electric in a research note on Tuesday, February 19th. Finally, ValuEngine raised shares of Franklin Electric from a “hold” rating to a “buy” rating in a research note on Friday, February 15th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. Franklin Electric currently has a consensus rating of “Hold” and an average target price of $52.00.

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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.

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Institutional Ownership by Quarter for Franklin Electric (NASDAQ:FELE)

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