Signature Financial Management Inc. Holds Position in Franklin Electric Co., Inc. (FELE)
Signature Financial Management Inc. held its stake in Franklin Electric Co., Inc. (NASDAQ:FELE) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,000 shares of the industrial products company’s stock at the end of the second quarter. Signature Financial Management Inc.’s holdings in Franklin Electric Co. were worth $662,000 as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC purchased a new stake in Franklin Electric Co. during the fourth quarter valued at $1,494,000. Norges Bank purchased a new stake in Franklin Electric Co. during the fourth quarter valued at $9,393,000. Teachers Advisors LLC boosted its stake in Franklin Electric Co. by 3.4% in the fourth quarter. Teachers Advisors LLC now owns 74,754 shares of the industrial products company’s stock valued at $2,908,000 after buying an additional 2,458 shares during the last quarter. First National Bank of Omaha boosted its stake in Franklin Electric Co. by 18.6% in the first quarter. First National Bank of Omaha now owns 68,151 shares of the industrial products company’s stock valued at $2,933,000 after buying an additional 10,698 shares during the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in Franklin Electric Co. by 1.9% in the first quarter. Louisiana State Employees Retirement System now owns 15,700 shares of the industrial products company’s stock valued at $676,000 after buying an additional 300 shares during the last quarter. 76.88% of the stock is owned by institutional investors and hedge funds.
Franklin Electric Co., Inc. (FELE) opened at 39.15 on Friday. The firm has a 50-day moving average price of $40.90 and a 200 day moving average price of $40.70. Franklin Electric Co., Inc. has a one year low of $34.75 and a one year high of $46.50. The firm has a market capitalization of $1.82 billion, a PE ratio of 21.28 and a beta of 1.60.
Franklin Electric Co. (NASDAQ:FELE) last announced its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.04. Franklin Electric Co. had a return on equity of 13.10% and a net margin of 8.62%. The business had revenue of $305.35 million during the quarter, compared to analyst estimates of $310.13 million. During the same period in the prior year, the company earned $0.51 earnings per share. Franklin Electric Co.’s revenue was up 21.1% compared to the same quarter last year. Analysts anticipate that Franklin Electric Co., Inc. will post $1.89 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 17th. Shareholders of record on Thursday, August 3rd will be given a dividend of $0.108 per share. The ex-dividend date of this dividend is Tuesday, August 1st. This represents a $0.43 annualized dividend and a dividend yield of 1.10%. Franklin Electric Co.’s dividend payout ratio is currently 23.37%.
Several analysts recently weighed in on FELE shares. Zacks Investment Research raised Franklin Electric Co. from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a report on Tuesday, April 25th. BidaskClub raised Franklin Electric Co. from a “hold” rating to a “buy” rating in a report on Tuesday, June 13th. Finally, Boenning Scattergood reaffirmed an “outperform” rating and issued a $52.00 price objective (up from $44.00) on shares of Franklin Electric Co. in a report on Wednesday, July 26th.
In other Franklin Electric Co. news, insider Delancey W. Davis sold 4,071 shares of the stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $34.45, for a total transaction of $140,245.95. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Robert J. Stone sold 39,260 shares of the stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $45.00, for a total value of $1,766,700.00. Following the sale, the insider now owns 39,392 shares in the company, valued at approximately $1,772,640. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,331 shares of company stock worth $2,070,946. Company insiders own 2.54% of the company’s stock.
Franklin Electric Co. Company Profile
Franklin Electric Co, Inc designs, manufactures and distributes water and fuel pumping systems, consisting of submersible motors, pumps, electronic controls and related parts and equipment. Its segments include Water Systems segment, the Fueling Systems segment and Other. Its Water Systems segment is engaged in the production and marketing of water pumping systems and offers motors, pumps, drives, electronic controls and monitoring devices.
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