Franklin Electric Co., Inc. (NASDAQ:FELE) Declares $0.18 Quarterly Dividend

Franklin Electric Co., Inc. (NASDAQ:FELE) announced a quarterly dividend on Monday, April 26th, Zacks reports. Stockholders of record on Thursday, May 6th will be given a dividend of 0.175 per share by the industrial products company on Thursday, May 20th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend is Wednesday, May 5th.

Franklin Electric has raised its dividend payment by 46.8% over the last three years and has increased its dividend annually for the last 1 consecutive years. Franklin Electric has a dividend payout ratio of 24.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Franklin Electric to earn $2.47 per share next year, which means the company should continue to be able to cover its $0.70 annual dividend with an expected future payout ratio of 28.3%.

Shares of FELE stock opened at $83.98 on Tuesday. The company has a market capitalization of $3.88 billion, a price-to-earnings ratio of 42.20 and a beta of 0.98. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.67 and a current ratio of 3.21. Franklin Electric has a one year low of $43.00 and a one year high of $84.07. The company’s 50-day moving average is $80.25 and its 200 day moving average is $72.66.

Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings results on Monday, April 26th. The industrial products company reported $0.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.22. The company had revenue of $333.05 million during the quarter, compared to the consensus estimate of $300.60 million. Franklin Electric had a net margin of 7.50% and a return on equity of 12.16%. The firm’s quarterly revenue was up 24.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.24 earnings per share. As a group, research analysts predict that Franklin Electric will post 2.12 earnings per share for the current fiscal year.

In other news, insider Delancey W. Davis sold 14,257 shares of the business’s stock in a transaction on Tuesday, February 23rd. The shares were sold at an average price of $74.62, for a total transaction of $1,063,857.34. Following the completion of the sale, the insider now owns 15,643 shares of the company’s stock, valued at approximately $1,167,280.66. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jay J. Walsh sold 1,985 shares of the company’s stock in a transaction on Friday, March 12th. The stock was sold at an average price of $79.29, for a total value of $157,390.65. Following the completion of the sale, the insider now owns 11,669 shares of the company’s stock, valued at $925,235.01. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,092 shares of company stock valued at $2,565,023. Corporate insiders own 2.79% of the company’s stock.

FELE has been the subject of several research analyst reports. Zacks Investment Research upgraded Franklin Electric from a “hold” rating to a “buy” rating and set a $92.00 price objective for the company in a report on Wednesday, April 28th. DA Davidson lifted their price target on shares of Franklin Electric from $70.00 to $75.00 and gave the stock a “neutral” rating in a research note on Monday, March 22nd. They noted that the move was a valuation call. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $79.67.

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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Dividend History for Franklin Electric (NASDAQ:FELE)

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