Dark Forest Capital Management LP Boosts Stake in Franklin Electric Co., Inc. (NASDAQ:FELE)

Dark Forest Capital Management LP boosted its stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 155.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,022 shares of the industrial products company's stock after purchasing an additional 6,701 shares during the period. Dark Forest Capital Management LP's holdings in Franklin Electric were worth $1,074,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Franklin Electric by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 4,769,582 shares of the industrial products company's stock valued at $464,796,000 after buying an additional 45,174 shares during the period. Allianz Asset Management GmbH boosted its position in Franklin Electric by 21.6% in the fourth quarter. Allianz Asset Management GmbH now owns 811,682 shares of the industrial products company's stock worth $79,098,000 after purchasing an additional 143,917 shares during the last quarter. Norges Bank purchased a new stake in shares of Franklin Electric during the 4th quarter valued at about $56,968,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Franklin Electric by 2.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 503,775 shares of the industrial products company's stock worth $49,093,000 after purchasing an additional 10,580 shares during the period. Finally, KBC Group NV boosted its holdings in shares of Franklin Electric by 7.3% in the fourth quarter. KBC Group NV now owns 415,179 shares of the industrial products company's stock worth $40,459,000 after buying an additional 28,121 shares during the last quarter. Hedge funds and other institutional investors own 79.98% of the company's stock.

Insider Activity at Franklin Electric

In other news, insider Delancey W. Davis sold 961 shares of the business's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $103.14, for a total value of $99,117.54. Following the transaction, the insider now directly owns 7,701 shares in the company, valued at $794,281.14. The trade was a 11.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.72% of the stock is owned by corporate insiders.

Franklin Electric Stock Performance

FELE stock traded down $5.04 during midday trading on Tuesday, reaching $83.61. 148,020 shares of the company's stock traded hands, compared to its average volume of 200,862. The company has a current ratio of 2.22, a quick ratio of 1.06 and a debt-to-equity ratio of 0.01. Franklin Electric Co., Inc. has a 52-week low of $79.14 and a 52-week high of $111.94. The stock has a market cap of $3.83 billion, a P/E ratio of 21.66, a PEG ratio of 2.11 and a beta of 1.02. The stock's 50-day moving average is $94.96 and its 200 day moving average is $99.59.

Franklin Electric (NASDAQ:FELE - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.67 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.06). Franklin Electric had a return on equity of 14.46% and a net margin of 8.92%. The company's quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.70 earnings per share. As a group, analysts anticipate that Franklin Electric Co., Inc. will post 4.19 EPS for the current year.

Franklin Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Thursday, May 8th will be given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 1.27%. Franklin Electric's payout ratio is 27.53%.

Franklin Electric 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.