Shares of Franklin Electric Co., Inc. (NASDAQ:FELE - Get Free Report) reached a new 52-week low during trading on Tuesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $78.87 and last traded at $81.40, with a volume of 36975 shares trading hands. The stock had previously closed at $88.65.
The industrial products company reported $0.67 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.06). The company had revenue of $455.25 million for the quarter, compared to analyst estimates of $471.21 million. Franklin Electric had a return on equity of 14.46% and a net margin of 8.92%. The business's revenue was down 1.2% on a year-over-year basis. During the same period last year, the firm posted $0.70 earnings per share.
Franklin Electric Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Thursday, May 8th will be paid a dividend of $0.265 per share. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $1.06 annualized dividend and a dividend yield of 1.20%. Franklin Electric's dividend payout ratio is presently 27.75%.
Analyst Ratings Changes
FELE has been the subject of a number of recent analyst reports. StockNews.com lowered Franklin Electric from a "buy" rating to a "hold" rating in a research note on Thursday. Robert W. Baird dropped their price target on shares of Franklin Electric from $111.00 to $94.00 and set a "neutral" rating for the company in a research note on Wednesday.
Check Out Our Latest Stock Analysis on Franklin Electric
Insider Buying and Selling
In other Franklin Electric news, insider Delancey W. Davis sold 961 shares of Franklin Electric stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $103.14, for a total value of $99,117.54. Following the completion of the transaction, the insider now owns 7,701 shares of the company's stock, valued at $794,281.14. The trade was a 11.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 2.72% of the company's stock.
Institutional Investors Weigh In On Franklin Electric
Institutional investors have recently modified their holdings of the business. Farther Finance Advisors LLC boosted its stake in Franklin Electric by 168.5% in the first quarter. Farther Finance Advisors LLC now owns 290 shares of the industrial products company's stock valued at $28,000 after acquiring an additional 182 shares during the period. Spire Wealth Management acquired a new position in Franklin Electric during the 4th quarter valued at approximately $29,000. Trust Co. of Vermont bought a new position in Franklin Electric during the 4th quarter worth $40,000. Blue Trust Inc. increased its position in Franklin Electric by 66.2% in 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 during the period. Finally, Public Employees Retirement System of Ohio bought a new stake in Franklin Electric in the fourth quarter valued at $52,000. Institutional investors own 79.98% of the company's stock.
Franklin Electric Trading Up 3.5 %
The firm's fifty day moving average price is $93.47 and its 200-day moving average price is $99.08. The company has a market cap of $4.04 billion, a price-to-earnings ratio of 22.95, a P/E/G ratio of 2.11 and a beta of 1.02. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.22 and a quick ratio of 1.06.
About Franklin Electric
(
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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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