Franklin Electric Co. (NASDAQ:FELE) Insider Sells $120,624.00 in Stock

Franklin Electric Co. (NASDAQ:FELE) insider Delancey W. Davis sold 2,400 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $50.26, for a total transaction of $120,624.00. Following the transaction, the insider now directly owns 18,486 shares of the company’s stock, valued at $929,106.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of NASDAQ FELE traded up $0.34 during midday trading on Friday, hitting $50.57. 4,138 shares of the company traded hands, compared to its average volume of 96,226. Franklin Electric Co. has a 12-month low of $38.87 and a 12-month high of $55.59. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.98 and a current ratio of 2.15. The stock has a 50-day moving average price of $45.83 and a 200 day moving average price of $47.69. The firm has a market cap of $2.23 billion, a P/E ratio of 22.39, a P/E/G ratio of 4.35 and a beta of 1.31.

Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.04). Franklin Electric had a net margin of 7.36% and a return on equity of 13.17%. The company had revenue of $355.30 million for the quarter, compared to analysts’ expectations of $358.31 million. During the same quarter in the prior year, the firm earned $0.65 EPS. Franklin Electric’s quarterly revenue was up 3.3% compared to the same quarter last year. As a group, equities analysts expect that Franklin Electric Co. will post 2.21 earnings per share for the current year.

The business 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 $0.145 per share. This represents a $0.58 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend was Wednesday, July 31st. Franklin Electric’s dividend payout ratio is currently 25.66%.

Several brokerages have recently commented on FELE. Zacks Investment Research raised shares of Franklin Electric from a “sell” rating to a “hold” rating in a research note on Monday. BidaskClub raised shares of Franklin Electric from a “hold” rating to a “buy” rating in a research note on Friday.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd purchased a new position in shares of Franklin Electric during the first quarter valued at about $536,000. GYL Financial Synergies LLC purchased a new stake in Franklin Electric in the first quarter worth about $929,000. Piedmont Investment Advisors Inc. grew its holdings in Franklin Electric by 6.2% in the first quarter. Piedmont Investment Advisors Inc. now owns 9,949 shares of the industrial products company’s stock worth $508,000 after purchasing an additional 583 shares during the period. King Luther Capital Management Corp grew its holdings in Franklin Electric by 1.8% in the second quarter. King Luther Capital Management Corp now owns 1,242,118 shares of the industrial products company’s stock worth $59,001,000 after purchasing an additional 22,555 shares during the period. Finally, WINTON GROUP Ltd purchased a new stake in Franklin Electric in the second quarter worth about $1,782,000. Institutional investors own 77.53% 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. It operates in three segments: Water Systems, Fueling Systems, and Distribution. The Water Systems segment offers submersible motors, pumps, drives, electronic controls, monitoring devices, and related parts and equipment.

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Insider Buying and Selling by Quarter for Franklin Electric (NASDAQ:FELE)

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