Allianz Asset Management GmbH increased its stake in shares of Franklin Electric Co. (NASDAQ:FELE) by 93.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,975 shares of the industrial products company’s stock after buying an additional 5,309 shares during the quarter. Allianz Asset Management GmbH’s holdings in Franklin Electric were worth $522,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of FELE. BlackRock Inc. lifted its stake in Franklin Electric by 0.6% during the first quarter. BlackRock Inc. now owns 6,110,772 shares of the industrial products company’s stock worth $312,201,000 after purchasing an additional 35,759 shares during the last quarter. Wells Fargo & Company MN lifted its stake in 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 purchasing an additional 158,355 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Franklin Electric by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,705,695 shares of the industrial products company’s stock worth $73,140,000 after purchasing an additional 5,165 shares during the last quarter. King Luther Capital Management Corp lifted its stake in Franklin Electric by 11.3% during the first quarter. King Luther Capital Management Corp now owns 1,219,563 shares of the industrial products company’s stock worth $62,307,000 after purchasing an additional 124,304 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its stake in Franklin Electric by 13.1% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 793,870 shares of the industrial products company’s stock worth $40,559,000 after purchasing an additional 92,125 shares during the last quarter. 77.53% of the stock is currently owned by institutional investors and hedge funds.
FELE has been the subject of several recent analyst reports. Zacks Investment Research upgraded Franklin Electric from a “sell” rating to a “hold” rating in a research note on Monday. BidaskClub cut Franklin Electric from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th.
In related news, insider Jay J. Walsh sold 1,016 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $46.11, for a total value of $46,847.76. Following the completion of the sale, the insider now directly owns 16,415 shares in the company, valued at $756,895.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP John J. Haines sold 18,600 shares of the stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $47.07, for a total value of $875,502.00. Following the completion of the sale, the vice president now owns 64,043 shares of the company’s stock, valued at $3,014,504.01. The disclosure for this sale can be found here. 2.88% of the stock is currently owned by corporate insiders.
NASDAQ FELE opened at $50.23 on Friday. The business has a fifty day moving average price of $45.83 and a two-hundred day moving average price of $47.69. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.15 and a quick ratio of 0.98. Franklin Electric Co. has a fifty-two week low of $38.87 and a fifty-two week high of $55.59. The stock has a market capitalization of $2.17 billion, a PE ratio of 22.23, a PEG ratio of 4.23 and a beta of 1.31.
Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $0.70 EPS for the quarter, missing the Zacks’ consensus estimate of $0.74 by ($0.04). Franklin Electric had a net margin of 7.36% and a return on equity of 13.17%. The firm had revenue of $355.30 million during the quarter, compared to the consensus estimate of $358.31 million. During the same quarter in the previous year, the company posted $0.65 earnings per share. The firm’s revenue was up 3.3% on a year-over-year basis. As a group, sell-side analysts expect that Franklin Electric Co. will post 2.21 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, August 1st were paid a $0.145 dividend. This represents a $0.58 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date was Wednesday, July 31st. Franklin Electric’s payout ratio is 25.66%.
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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