Cibc World Markets Corp Buys Shares of 4,239 Franklin Electric Co., Inc. (NASDAQ:FELE)

Cibc World Markets Corp bought a new stake in Franklin Electric Co., Inc. (NASDAQ:FELE) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 4,239 shares of the industrial products company’s stock, valued at approximately $413,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FELE. Spire Wealth Management purchased a new stake in Franklin Electric in the fourth quarter valued at approximately $29,000. Trust Co. of Vermont purchased a new stake in Franklin Electric in the fourth quarter valued at approximately $40,000. Blue Trust Inc. raised its position in Franklin Electric by 66.2% in the fourth quarter. Blue Trust Inc. now owns 497 shares of the industrial products company’s stock valued at $52,000 after purchasing an additional 198 shares during the period. Smartleaf Asset Management LLC raised its position in Franklin Electric by 189.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 642 shares of the industrial products company’s stock valued at $62,000 after purchasing an additional 420 shares during the period. Finally, Point72 DIFC Ltd purchased a new stake in Franklin Electric in the third quarter valued at approximately $77,000. Hedge funds and other institutional investors own 79.98% of the company’s stock.

Franklin Electric Stock Down 2.5 %

Franklin Electric stock opened at $95.56 on Monday. Franklin Electric Co., Inc. has a twelve month low of $91.67 and a twelve month high of $111.94. The stock’s fifty day simple moving average is $100.36 and its 200-day simple moving average is $101.78. The company has a current ratio of 2.22, a quick ratio of 1.06 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $4.37 billion, a P/E ratio of 24.82, a P/E/G ratio of 2.11 and a beta of 0.98.

Franklin Electric (NASDAQ:FELE) last posted its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.03. Franklin Electric had a return on equity of 14.46% and a net margin of 8.92%. The business had revenue of $485.75 million for the quarter, compared to analyst estimates of $465.87 million. As a group, equities analysts expect that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current fiscal year.

Franklin Electric Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were given a dividend of $0.265 per share. The ex-dividend date was Thursday, February 6th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.11%. This is a positive change from Franklin Electric’s previous quarterly dividend of $0.25. Franklin Electric’s dividend payout ratio is currently 27.53%.

Insider Transactions at Franklin Electric

In other news, insider Delancey W. Davis sold 961 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $103.14, for a total transaction of $99,117.54. Following the sale, the insider now owns 7,701 shares of the company’s stock, valued at approximately $794,281.14. This represents a 11.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.72% of the company’s stock.

Franklin Electric Company 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.