2,630 Shares in Franklin Electric Co., Inc. (NASDAQ:FELE) Acquired by Argent Trust Co

Argent Trust Co acquired a new stake in Franklin Electric Co., Inc. (NASDAQ:FELE) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,630 shares of the industrial products company’s stock, valued at approximately $253,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Principal Securities Inc. bought a new position in shares of Franklin Electric in the fourth quarter worth about $33,000. GAMMA Investing LLC grew its stake in Franklin Electric by 88.0% in the 1st quarter. GAMMA Investing LLC now owns 314 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 147 shares in the last quarter. ORG Partners LLC purchased a new position in shares of Franklin Electric during the second quarter worth approximately $36,000. TFO Wealth Partners LLC raised its stake 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 acquiring an additional 1,214 shares in the last quarter. Finally, Quest Partners LLC purchased a new stake in shares of Franklin Electric in the fourth quarter valued at approximately $147,000. Hedge funds and other institutional investors own 79.98% of the company’s stock.

Franklin Electric Stock Down 1.5 %

Shares of NASDAQ:FELE opened at $102.29 on Friday. The business’s 50 day moving average is $100.54 and its 200 day moving average is $100.13. The stock has a market cap of $4.71 billion, a P/E ratio of 25.45, a price-to-earnings-growth ratio of 1.88 and a beta of 0.95. Franklin Electric Co., Inc. has a 52-week low of $82.61 and a 52-week high of $108.39. The company has a quick ratio of 1.14, a current ratio of 2.65 and a debt-to-equity ratio of 0.07.

Franklin Electric (NASDAQ:FELE) last posted its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.06). The firm had revenue of $543.30 million for the quarter, compared to the consensus estimate of $570.80 million. Franklin Electric had a return on equity of 15.57% and a net margin of 9.35%. Franklin Electric’s quarterly revenue was down 4.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.27 EPS. Sell-side 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. Stockholders of record on Thursday, August 1st were issued a $0.25 dividend. The ex-dividend date was Thursday, August 1st. This represents a $1.00 annualized dividend and a dividend yield of 0.98%. Franklin Electric’s dividend payout ratio is currently 24.88%.

Insider Transactions at Franklin Electric

In related news, insider Gregg C. Sengstack sold 5,000 shares of Franklin Electric stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $103.87, for a total transaction of $519,350.00. Following the transaction, the insider now directly owns 108,489 shares of the company’s stock, valued at $11,268,752.43. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Franklin Electric news, insider Gregg C. Sengstack sold 5,396 shares of Franklin Electric stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $106.64, for a total value of $575,429.44. Following the transaction, the insider now owns 98,093 shares in the company, valued at $10,460,637.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gregg C. Sengstack sold 5,000 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $103.87, for a total transaction of $519,350.00. Following the sale, the insider now directly owns 108,489 shares of the company’s stock, valued at $11,268,752.43. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,486 shares of company stock valued at $2,568,171. Company insiders own 2.72% of the company’s stock.

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.