Tributary Capital Management LLC Has $16.46 Million Holdings in Franklin Electric Co., Inc. (NASDAQ:FELE)

Tributary Capital Management LLC reduced its position in Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) by 3.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 175,372 shares of the industrial products company's stock after selling 5,751 shares during the period. Tributary Capital Management LLC owned approximately 0.38% of Franklin Electric worth $16,464,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC grew its stake in Franklin Electric by 168.5% during the 1st quarter. Farther Finance Advisors LLC now owns 290 shares of the industrial products company's stock worth $28,000 after buying an additional 182 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in Franklin Electric during the 4th quarter worth $52,000. USA Financial Formulas grew its stake in Franklin Electric by 50.0% during the 1st quarter. USA Financial Formulas now owns 900 shares of the industrial products company's stock worth $84,000 after buying an additional 300 shares during the last quarter. CWM LLC boosted its position in Franklin Electric by 60.7% during the 1st quarter. CWM LLC now owns 1,175 shares of the industrial products company's stock worth $110,000 after acquiring an additional 444 shares during the period. Finally, Kapitalo Investimentos Ltda acquired a new position in Franklin Electric during the 4th quarter worth $127,000. 79.98% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Franklin Electric news, Director David M. Wathen sold 25,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $85.25, for a total value of $2,131,250.00. Following the completion of the sale, the director owned 24,000 shares in the company, valued at approximately $2,046,000. This trade represents a 51.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David M. Wathen sold 24,000 shares of the stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $86.10, for a total value of $2,066,400.00. The disclosure for this sale can be found here. Insiders sold a total of 99,402 shares of company stock valued at $8,529,908 in the last quarter. Corporate insiders own 2.72% of the company's stock.

Analysts Set New Price Targets

FELE has been the subject of several research analyst reports. Robert W. Baird cut their price objective on Franklin Electric from $111.00 to $94.00 and set a "neutral" rating for the company in a report on Wednesday, April 30th. Wall Street Zen raised Franklin Electric from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th.

Franklin Electric Stock Down 0.8%

NASDAQ:FELE traded down $0.70 during trading hours on Friday, hitting $90.86. 176,760 shares of the company's stock traded hands, compared to its average volume of 224,228. The firm has a market cap of $4.14 billion, a P/E ratio of 23.79, a P/E/G ratio of 1.84 and a beta of 1.07. Franklin Electric Co., Inc. has a twelve month low of $78.87 and a twelve month high of $111.94. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.82 and a current ratio of 1.98. The stock's fifty day moving average price is $88.52 and its two-hundred day moving average price is $93.16.

Franklin Electric (NASDAQ:FELE - Get Free Report) last issued its earnings results on Tuesday, April 29th. The industrial products company reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.06). The firm had revenue of $455.25 million during the quarter, compared to analyst estimates of $471.21 million. Franklin Electric had a return on equity of 14.08% and a net margin of 8.85%. The business's revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.70 earnings per share. On average, research analysts expect that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current fiscal year.

Franklin Electric announced that its board has authorized a share buyback plan on Friday, June 13th that allows the company to buyback 1,200,000 shares. This buyback authorization allows the industrial products company to repurchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

Franklin Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders 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 dividend yield of 1.17%. Franklin Electric's dividend payout ratio is currently 27.75%.

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.