Dudley & Shanley Inc. reduced its stake in Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 3.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 175,311 shares of the industrial products company's stock after selling 6,050 shares during the quarter. Franklin Electric accounts for 2.6% of Dudley & Shanley Inc.'s investment portfolio, making the stock its 18th largest position. Dudley & Shanley Inc. owned 0.38% of Franklin Electric worth $16,458,000 as of its most recent filing with the SEC.
Other hedge funds have also recently made changes to their positions in the company. Spire Wealth Management purchased a new position in Franklin Electric in the fourth quarter valued at $29,000. Blue Trust Inc. grew its position in shares of 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 buying an additional 198 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Franklin Electric in the fourth quarter valued at approximately $52,000. Smartleaf Asset Management LLC grew its stake in shares of Franklin Electric by 189.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 642 shares of the industrial products company's stock worth $62,000 after purchasing an additional 420 shares in the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new position in Franklin Electric in the fourth quarter valued at $127,000. Hedge funds and other institutional investors own 79.98% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on FELE. Wall Street Zen raised Franklin Electric from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Robert W. Baird dropped their price objective on Franklin Electric from $111.00 to $94.00 and set a "neutral" rating on the stock in a report on Wednesday, April 30th.
Read Our Latest Report on Franklin Electric
Insider Activity at Franklin Electric
In other news, Director David M. Wathen sold 25,402 shares of the firm's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $85.22, for a total value of $2,164,758.44. Following the completion of the sale, the director now owns 49,000 shares in the company, valued at approximately $4,175,780. This trade represents a 34.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.72% of the stock is currently owned by insiders.
Franklin Electric Stock Performance
FELE stock traded down $0.05 on Thursday, hitting $86.10. The company's stock had a trading volume of 119,523 shares, compared to its average volume of 258,187. The firm has a 50 day moving average of $88.03 and a two-hundred day moving average of $96.61. Franklin Electric Co., Inc. has a 1 year low of $78.87 and a 1 year high of $111.94. The company has a current ratio of 2.22, a quick ratio of 1.06 and a debt-to-equity ratio of 0.01. The stock has a market cap of $3.93 billion, a price-to-earnings ratio of 22.36, a price-to-earnings-growth ratio of 2.11 and a beta of 1.08.
Franklin Electric (NASDAQ:FELE - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The industrial products company reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.06). Franklin Electric had a net margin of 8.92% and a return on equity of 14.46%. The company had revenue of $455.25 million during the quarter, compared to analyst estimates of $471.21 million. During the same quarter last year, the firm earned $0.70 EPS. The business's revenue was down 1.2% on a year-over-year basis. Equities analysts predict that Franklin Electric Co., Inc. will post 4.19 EPS for the current fiscal year.
Franklin Electric Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 8th were given a $0.265 dividend. The ex-dividend date was Thursday, May 8th. This represents a $1.06 dividend on an annualized basis and a yield of 1.23%. Franklin Electric's dividend payout ratio (DPR) is 27.75%.
Franklin Electric Company Profile
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Free Report)
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.
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