GAMMA Investing LLC Grows Holdings in Franklin Electric Co., Inc. (NASDAQ:FELE)

GAMMA Investing LLC boosted its holdings in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 68.6% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,221 shares of the industrial products company’s stock after purchasing an additional 497 shares during the period. GAMMA Investing LLC’s holdings in Franklin Electric were worth $128,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. First Merchants Corp acquired a new position in Franklin Electric in the 2nd quarter valued at about $19,054,000. F M Investments LLC purchased a new stake in shares of Franklin Electric during the second quarter worth approximately $9,158,000. Assenagon Asset Management S.A. lifted 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. Vanguard Group Inc. grew its position in Franklin Electric by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 4,720,914 shares of the industrial products company’s stock valued at $456,276,000 after buying an additional 64,487 shares during the last quarter. Finally, Edgestream Partners L.P. increased its stake in Franklin Electric by 328.4% in the 2nd quarter. Edgestream Partners L.P. now owns 64,431 shares of the industrial products company’s stock valued at $6,206,000 after buying an additional 49,391 shares during the period. 79.98% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Jay J. Walsh sold 14,090 shares of the stock in a transaction dated 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 completion of the transaction, the insider now owns 16,927 shares in the company, valued at $1,770,056.39. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Franklin Electric news, 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 sale, the insider now directly owns 108,489 shares in the company, valued at approximately $11,268,752.43. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 completion of the sale, the insider now directly owns 16,927 shares in the company, valued at $1,770,056.39. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety 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 Up 1.4 %

FELE stock opened at $105.31 on Monday. The stock has a market capitalization of $4.85 billion, a PE ratio of 26.20, a price-to-earnings-growth ratio of 2.07 and a beta of 0.95. The company has a fifty day moving average of $100.74 and a 200-day moving average of $100.26. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.14 and a current ratio of 2.65. Franklin Electric Co., Inc. has a one year low of $82.61 and a one year high of $108.39.

Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $1.26 EPS for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.06). The firm 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%. Franklin Electric’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.27 EPS. As a group, analysts expect that Franklin Electric Co., Inc. will post 4.22 EPS for the current year.

Franklin Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.95%. 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.