Intech Investment Management LLC Invests $203,000 in Franklin Electric Co., Inc. (NASDAQ:FELE)

Intech Investment Management LLC bought a new position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,112 shares of the industrial products company’s stock, valued at approximately $203,000.

Several other hedge funds also recently made changes to their positions in FELE. First Merchants Corp bought a new position in shares of Franklin Electric during the second quarter worth approximately $19,054,000. Robeco Schweiz AG increased its holdings in shares of Franklin Electric by 28.3% during the fourth quarter. Robeco Schweiz AG now owns 474,747 shares of the industrial products company’s stock worth $45,884,000 after purchasing an additional 104,751 shares during the period. F M Investments LLC bought a new position in shares of Franklin Electric during the second quarter worth approximately $9,158,000. Assenagon Asset Management S.A. increased its holdings in shares of Franklin Electric by 116.5% during the second quarter. Assenagon Asset Management S.A. now owns 165,601 shares of the industrial products company’s stock worth $15,951,000 after purchasing an additional 89,128 shares during the period. Finally, UBS Group AG increased its holdings in shares of Franklin Electric by 474.8% during the fourth quarter. UBS Group AG now owns 105,177 shares of the industrial products company’s stock worth $10,165,000 after purchasing an additional 86,880 shares during the period. 79.98% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Jay J. Walsh sold 14,090 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $104.57, for a total transaction of $1,473,391.30. Following the sale, the insider now owns 16,927 shares in the company, valued at approximately $1,770,056.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Franklin Electric news, insider Gregg C. Sengstack sold 5,396 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $106.64, for a total value of $575,429.44. Following the sale, the insider now owns 98,093 shares in the company, valued at $10,460,637.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jay J. Walsh sold 14,090 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $104.57, for a total transaction of $1,473,391.30. Following the completion of the sale, the insider now owns 16,927 shares in the company, valued at approximately $1,770,056.39. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,486 shares of company stock worth $2,568,171. Corporate insiders own 2.72% of the company’s stock.

Franklin Electric Stock Down 0.4 %

Shares of FELE opened at $105.02 on Friday. Franklin Electric Co., Inc. has a 12 month low of $82.61 and a 12 month high of $108.39. The firm’s 50 day moving average is $100.60 and its 200-day moving average is $100.19. The stock has a market capitalization of $4.84 billion, a PE ratio of 26.12, a P/E/G ratio of 2.02 and a beta of 0.95. The company has a current ratio of 2.65, a quick ratio of 1.14 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 the consensus estimate of $1.32 by ($0.06). The firm had revenue of $543.30 million for the quarter, compared to analyst estimates of $570.80 million. Franklin Electric had a return on equity of 15.57% and a net margin of 9.35%. The business’s revenue was down 4.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.27 EPS. Equities research analysts forecast that Franklin Electric Co., Inc. will post 4.22 EPS for the current year.

Franklin Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $1.00 annualized dividend and a dividend yield of 0.95%. Franklin Electric’s dividend payout ratio is 24.88%.

Franklin Electric Profile

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.