Franklin Electric (NASDAQ:FELE) Hits New 12-Month Low – Here’s What Happened

Franklin Electric Co., Inc. (NASDAQ:FELE) shares reached a new 52-week low on Thursday . The stock traded as low as $90.73 and last traded at $91.07, with a volume of 107852 shares traded. The stock had previously closed at $95.87.

Franklin Electric Stock Performance

The company has a quick ratio of 1.06, a current ratio of 2.22 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $4.21 billion, a price-to-earnings ratio of 23.89, a price-to-earnings-growth ratio of 2.11 and a beta of 0.98. The stock’s 50-day simple moving average is $100.02 and its 200 day simple moving average is $101.75.

Franklin Electric (NASDAQ:FELE) last announced its earnings results 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. The company had revenue of $485.75 million during the quarter, compared to the consensus estimate of $465.87 million. Franklin Electric had a net margin of 8.92% and a return on equity of 14.46%. Analysts expect that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current fiscal year.

Franklin Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were given a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 1.15%. This is a positive change from Franklin Electric’s previous quarterly dividend of $0.25. The ex-dividend date was Thursday, February 6th. Franklin Electric’s dividend payout ratio (DPR) is presently 27.53%.

Insider Transactions at Franklin Electric

In other Franklin Electric news, insider Delancey W. Davis sold 961 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $103.14, for a total transaction of $99,117.54. Following the completion of the sale, the insider now owns 7,701 shares in the company, valued at approximately $794,281.14. The trade was a 11.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.72% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Spire Wealth Management acquired a new stake in shares of Franklin Electric during the fourth quarter worth about $29,000. Trust Co. of Vermont acquired a new position in Franklin Electric during the fourth quarter worth $40,000. Blue Trust Inc. boosted its holdings in Franklin Electric by 66.2% during the fourth quarter. Blue Trust Inc. now owns 497 shares of the industrial products company’s stock worth $52,000 after purchasing an additional 198 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in Franklin Electric in the fourth quarter valued at $52,000. Finally, Smartleaf Asset Management LLC lifted its position in Franklin Electric by 189.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 642 shares of the industrial products company’s stock worth $62,000 after buying an additional 420 shares in the last quarter. Institutional investors own 79.98% 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.