King Luther Capital Management Corp decreased its holdings in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 1.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,201,299 shares of the industrial products company’s stock after selling 22,790 shares during the period. King Luther Capital Management Corp owned approximately 2.58% of Franklin Electric Co. worth $49,734,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fifth Third Bancorp boosted its stake in shares of Franklin Electric Co. by 8.0% during the first quarter. Fifth Third Bancorp now owns 2,638 shares of the industrial products company’s stock worth $114,000 after buying an additional 196 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Franklin Electric Co. by 13.5% during the first quarter. Victory Capital Management Inc. now owns 2,915 shares of the industrial products company’s stock worth $125,000 after buying an additional 347 shares during the period. Ameritas Investment Partners Inc. acquired a new stake in shares of Franklin Electric Co. during the first quarter worth about $171,000. Dubuque Bank & Trust Co. boosted its stake in shares of Franklin Electric Co. by 6.7% during the second quarter. Dubuque Bank & Trust Co. now owns 5,361 shares of the industrial products company’s stock worth $222,000 after buying an additional 338 shares during the period. Finally, Trexquant Investment LP acquired a new stake in shares of Franklin Electric Co. during the first quarter worth about $228,000. Institutional investors and hedge funds own 77.00% of the company’s stock.

In related news, insider Robert J. Stone sold 39,260 shares of the business’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $45.00, for a total transaction of $1,766,700.00. Following the completion of the sale, the insider now owns 39,392 shares of the company’s stock, valued at approximately $1,772,640. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.54% of the stock is owned by corporate insiders.

Shares of Franklin Electric Co., Inc. (NASDAQ FELE) traded down 0.63% during midday trading on Thursday, reaching $39.35. 9,684 shares of the company were exchanged. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of 21.39 and a beta of 1.63. Franklin Electric Co., Inc. has a 52-week low of $34.75 and a 52-week high of $46.50. The company’s 50-day moving average price is $39.20 and its 200 day moving average price is $40.33.

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 analysts’ consensus estimates of $0.54 by $0.04. Franklin Electric Co. had a net margin of 8.62% and a return on equity of 13.10%. The business had revenue of $305.35 million during the quarter, compared to the consensus estimate of $310.13 million. During the same quarter in the prior year, the firm earned $0.51 EPS. The company’s revenue for the quarter was up 21.1% compared to the same quarter last year. On average, equities analysts predict that Franklin Electric Co., Inc. will post $1.92 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Thursday, August 3rd were given a dividend of $0.108 per share. This represents a $0.43 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date was Tuesday, August 1st. Franklin Electric Co.’s dividend payout ratio is presently 23.37%.

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FELE has been the subject of several recent research reports. BidaskClub downgraded shares of Franklin Electric Co. from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Boenning Scattergood reiterated an “outperform” rating on shares of Franklin Electric Co. in a research note on Tuesday, September 5th. Finally, Zacks Investment Research upgraded shares of Franklin Electric Co. from a “sell” rating to a “hold” rating and set a $45.00 target price for the company in a research note on Wednesday, July 26th.

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

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