Arizona State Retirement System Grows Stake in Franklin Electric Co., Inc. (NASDAQ:FELE)

Arizona State Retirement System grew its position in Franklin Electric Co., Inc. (NASDAQ:FELE) by 1.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,971 shares of the industrial products company’s stock after purchasing an additional 195 shares during the quarter. Arizona State Retirement System’s holdings in Franklin Electric were worth $1,057,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Principal Securities Inc. purchased a new stake in shares of Franklin Electric during the fourth quarter valued at $33,000. GAMMA Investing LLC grew its holdings in shares of Franklin Electric by 88.0% during the first quarter. GAMMA Investing LLC now owns 314 shares of the industrial products company’s stock valued at $34,000 after buying an additional 147 shares during the last quarter. ORG Partners LLC purchased a new stake in shares of Franklin Electric during the second quarter valued at $36,000. TFO Wealth Partners LLC grew its holdings in shares of Franklin Electric by 121,400.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,215 shares of the industrial products company’s stock valued at $117,000 after buying an additional 1,214 shares during the last quarter. Finally, Quest Partners LLC purchased a new stake in shares of Franklin Electric during the fourth quarter valued at $147,000. 79.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Franklin Electric

In other Franklin Electric news, insider Jay J. Walsh sold 14,090 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $104.57, for a total value of $1,473,391.30. Following the sale, the insider now directly owns 16,927 shares of the company’s stock, valued at $1,770,056.39. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Franklin Electric news, insider Gregg C. Sengstack sold 5,000 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $103.87, for a total value of $519,350.00. Following the completion of the transaction, the insider now owns 108,489 shares in the company, valued at $11,268,752.43. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jay J. Walsh sold 14,090 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $104.57, for a total transaction of $1,473,391.30. Following the completion of the transaction, the insider now owns 16,927 shares of the company’s stock, valued at approximately $1,770,056.39. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,486 shares of company stock valued at $2,568,171. 2.72% of the stock is owned by insiders.

Franklin Electric Price Performance

Shares of FELE opened at $97.16 on Friday. The firm has a market capitalization of $4.44 billion, a PE ratio of 24.17, a price-to-earnings-growth ratio of 1.88 and a beta of 0.95. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.65 and a quick ratio of 1.14. Franklin Electric Co., Inc. has a 1-year low of $82.61 and a 1-year high of $108.39. The company’s fifty day moving average price is $100.05 and its 200-day moving average price is $100.18.

Franklin Electric (NASDAQ:FELE) last posted its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $1.26 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.06). Franklin Electric had a net margin of 9.35% and a return on equity of 15.57%. The business had revenue of $543.30 million during the quarter, compared to analysts’ expectations of $570.80 million. During the same period in the previous year, the company posted $1.27 earnings per share. Franklin Electric’s revenue for the quarter was down 4.6% compared to the same quarter last year. On average, equities research analysts predict that Franklin Electric Co., Inc. will post 4.22 EPS for the current year.

Franklin Electric Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend was Thursday, August 1st. Franklin Electric’s payout ratio is 24.88%.

About Franklin Electric

Franklin Electric Co, Inc, together with its subsidiaries, designs, manufactures, and distributes water and fuel pumping systems worldwide. The company operates through Water Systems, Fueling Systems, and Distribution segments. The Water Systems segment offers submersible motors, drives, pumps, electronic controls, water treatment systems, monitoring devices, and related parts and equipment.