Duff & Phelps Investment Management Co. Sells 6,570 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE)

Duff & Phelps Investment Management Co. trimmed its position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 8.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 71,213 shares of the industrial products company’s stock after selling 6,570 shares during the period. Duff & Phelps Investment Management Co.’s holdings in Franklin Electric were worth $6,859,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in FELE. Marshall Wace LLP boosted its position in shares of Franklin Electric by 1.0% during the 2nd quarter. Marshall Wace LLP now owns 11,009 shares of the industrial products company’s stock worth $1,060,000 after acquiring an additional 109 shares in the last quarter. Duality Advisers LP raised its holdings in shares of Franklin Electric by 1.6% during the 1st quarter. Duality Advisers LP now owns 8,857 shares of the industrial products company’s stock worth $946,000 after buying an additional 137 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Franklin Electric by 88.0% during the 1st quarter. GAMMA Investing LLC now owns 314 shares of the industrial products company’s stock worth $34,000 after buying an additional 147 shares in the last quarter. Bridge City Capital LLC lifted its position in shares of Franklin Electric by 0.8% during the 1st quarter. Bridge City Capital LLC now owns 21,399 shares of the industrial products company’s stock worth $2,286,000 after buying an additional 166 shares during the last quarter. Finally, Arizona State Retirement System grew its position in Franklin Electric by 1.8% in the second quarter. Arizona State Retirement System now owns 10,971 shares of the industrial products company’s stock valued at $1,057,000 after acquiring an additional 195 shares during the last quarter. 79.98% of the stock is currently owned by institutional investors and hedge funds.

Franklin Electric Stock Down 0.4 %

FELE stock opened at $105.02 on Friday. The stock has a market capitalization of $4.84 billion, a P/E ratio of 26.12, a price-to-earnings-growth 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. The firm has a 50-day moving average price of $100.60 and a 200-day moving average price of $100.19. Franklin Electric Co., Inc. has a 12 month low of $82.61 and a 12 month high of $108.39.

Franklin Electric (NASDAQ:FELE) last issued its earnings results on Tuesday, July 23rd. The industrial products company reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.06). The company had revenue of $543.30 million during the quarter, compared to analyst estimates of $570.80 million. Franklin Electric had a net margin of 9.35% and a return on equity of 15.57%. The business’s quarterly revenue was down 4.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.27 EPS. As a group, equities research analysts anticipate that Franklin Electric Co., Inc. will post 4.22 EPS for the current fiscal year.

Franklin Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders 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 dividend on an annualized basis and a yield of 0.95%. Franklin Electric’s payout ratio is presently 24.88%.

Insider Buying and Selling at Franklin Electric

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

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.