Twinbeech Capital LP Invests $355,000 in Franklin Electric Co., Inc. (NASDAQ:FELE)

Twinbeech Capital LP acquired a new stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,638 shares of the industrial products company's stock, valued at approximately $355,000.

Other large investors also recently made changes to their positions in the company. Spire Wealth Management purchased a new stake in Franklin Electric during the fourth quarter valued at about $29,000. Blue Trust Inc. lifted its stake in Franklin Electric by 66.2% during the fourth quarter. Blue Trust Inc. now owns 497 shares of the industrial products company's stock valued at $52,000 after buying an additional 198 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in Franklin Electric by 189.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 642 shares of the industrial products company's stock valued at $62,000 after buying an additional 420 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new stake in Franklin Electric during the fourth quarter valued at about $127,000. Finally, Proficio Capital Partners LLC purchased a new stake in Franklin Electric during the fourth quarter valued at about $134,000. Institutional investors own 79.98% of the company's stock.

Insider Activity

In other news, Director David M. Wathen sold 25,000 shares of the stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $86.70, for a total transaction of $2,167,500.00. Following the completion of the sale, the director now owns 74,402 shares of the company's stock, valued at $6,450,653.40. This represents a 25.15% 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 currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently commented on FELE. Robert W. Baird decreased their price target on shares of 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 upgraded shares of Franklin Electric from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th.

Franklin Electric Stock Performance

Shares of NASDAQ:FELE traded down $1.68 during trading on Wednesday, reaching $85.61. The stock had a trading volume of 37,639 shares, compared to its average volume of 207,061. Franklin Electric Co., Inc. has a 52 week low of $78.87 and a 52 week high of $111.94. The firm has a market capitalization of $3.90 billion, a price-to-earnings ratio of 22.25, a P/E/G ratio of 2.11 and a beta of 1.08. 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 fifty day simple moving average of $89.13 and a two-hundred day simple moving average of $97.37.

Franklin Electric (NASDAQ:FELE - Get Free Report) last issued its earnings results 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 net margin of 8.92% and a return on equity of 14.46%. The firm had revenue of $455.25 million during the quarter, compared to analyst estimates of $471.21 million. During the same quarter in the prior year, the firm posted $0.70 EPS. The firm's revenue for the quarter was down 1.2% on a year-over-year basis. As a group, analysts anticipate that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current fiscal year.

Franklin Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 8th were issued a dividend of $0.265 per share. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $1.06 annualized dividend and a yield of 1.24%. 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.