Dimensional Fund Advisors LP raised its stake in Franklin Electric Co. (NASDAQ:FELE) by 0.3% during the 4th quarter, Holdings Channel reports. The firm owned 1,705,695 shares of the industrial products company’s stock after acquiring an additional 5,165 shares during the period. Dimensional Fund Advisors LP’s holdings in Franklin Electric were worth $73,140,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently made changes to their positions in the business. BlackRock Inc. grew its stake in shares of Franklin Electric by 0.7% in the 4th quarter. BlackRock Inc. now owns 6,075,013 shares of the industrial products company’s stock valued at $260,496,000 after purchasing an additional 43,292 shares during the last quarter. Morgan Stanley grew its position in Franklin Electric by 34.9% in the 3rd quarter. Morgan Stanley now owns 408,447 shares of the industrial products company’s stock valued at $19,299,000 after buying an additional 105,636 shares during the last quarter. Tributary Capital Management LLC grew its position in Franklin Electric by 1.0% in the 4th quarter. Tributary Capital Management LLC now owns 388,252 shares of the industrial products company’s stock valued at $16,648,000 after buying an additional 3,674 shares during the last quarter. Monarch Capital Management Inc. grew its position in Franklin Electric by 1.5% in the 4th quarter. Monarch Capital Management Inc. now owns 159,512 shares of the industrial products company’s stock valued at $6,840,000 after buying an additional 2,410 shares during the last quarter. Finally, KBC Group NV grew its position in Franklin Electric by 16.7% in the 4th quarter. KBC Group NV now owns 156,184 shares of the industrial products company’s stock valued at $6,697,000 after buying an additional 22,317 shares during the last quarter. Institutional investors own 78.54% of the company’s stock.
Several brokerages have recently weighed in on FELE. Zacks Investment Research downgraded shares of Franklin Electric from a “hold” rating to a “sell” rating in a report on Wednesday, April 17th. BidaskClub raised shares of Franklin Electric from a “hold” rating to a “buy” rating in a report on Wednesday, February 20th. Boenning Scattergood reaffirmed a “buy” rating and issued a $54.00 target price on shares of Franklin Electric in a report on Tuesday, February 19th. Finally, ValuEngine raised Franklin Electric from a “hold” rating to a “buy” rating in a report on Friday, February 15th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. The company has an average rating of “Hold” and an average price target of $52.00.
Franklin Electric (NASDAQ:FELE) last posted its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $0.21 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.19). Franklin Electric had a net margin of 7.25% and a return on equity of 13.11%. The business had revenue of $290.70 million during the quarter, compared to analysts’ expectations of $304.61 million. During the same quarter last year, the firm earned $0.45 earnings per share. The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. On average, equities analysts anticipate that Franklin Electric Co. will post 2.35 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Shareholders of record on Thursday, May 2nd were given a dividend of $0.145 per share. The ex-dividend date of this dividend was Wednesday, May 1st. This represents a $0.58 annualized dividend and a dividend yield of 1.27%. Franklin Electric’s payout ratio is currently 25.66%.
In related news, Director Thomas R. Verhage sold 2,000 shares of the business’s stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $55.21, for a total transaction of $110,420.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP John J. Haines sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, February 21st. The stock was sold at an average price of $55.18, for a total value of $220,720.00. Following the sale, the vice president now directly owns 41,785 shares in the company, valued at approximately $2,305,696.30. The disclosure for this sale can be found here. Insiders have sold a total of 14,425 shares of company stock worth $768,583 over the last 90 days. Insiders own 2.88% of the company’s stock.
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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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