Edgestream Partners L.P. Buys 49,391 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE)

Edgestream Partners L.P. lifted its stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 328.4% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 64,431 shares of the industrial products company’s stock after acquiring an additional 49,391 shares during the period. Edgestream Partners L.P.’s holdings in Franklin Electric were worth $6,206,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Private Advisor Group LLC bought a new stake in Franklin Electric during the fourth quarter worth approximately $313,000. Principal Securities Inc. bought a new stake in shares of Franklin Electric during the 4th quarter worth $33,000. Jump Financial LLC acquired a new position in Franklin Electric in the 4th quarter valued at $740,000. Dimensional Fund Advisors LP raised its holdings in Franklin Electric by 3.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,072,466 shares of the industrial products company’s stock worth $103,656,000 after acquiring an additional 30,966 shares during the period. Finally, Quadrant Capital Group LLC lifted its position in Franklin Electric by 14.8% during the 4th quarter. Quadrant Capital Group LLC now owns 2,221 shares of the industrial products company’s stock worth $215,000 after acquiring an additional 287 shares during the last quarter. Institutional investors and hedge funds own 79.98% of the company’s stock.

Insider Activity at Franklin Electric

In other Franklin Electric news, insider Gregg C. Sengstack sold 5,396 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $106.64, for a total value of $575,429.44. Following the sale, the insider now directly owns 98,093 shares in the company, valued at approximately $10,460,637.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Gregg C. Sengstack sold 5,396 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $106.64, for a total value of $575,429.44. Following the completion of the sale, the insider now owns 98,093 shares in the company, valued at $10,460,637.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Gregg C. Sengstack sold 5,000 shares of Franklin Electric stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $103.87, for a total value of $519,350.00. Following the sale, the insider now directly owns 108,489 shares in the company, valued at $11,268,752.43. The disclosure for this sale can be found here. Insiders sold a total of 24,486 shares of company stock worth $2,568,171 in the last ninety days. 2.72% of the stock is currently owned by insiders.

Franklin Electric Stock Up 1.3 %

FELE stock opened at $98.47 on Tuesday. The stock has a market capitalization of $4.54 billion, a price-to-earnings ratio of 24.50, a price-to-earnings-growth ratio of 1.88 and a beta of 0.95. The company has a 50-day moving average of $100.12 and a two-hundred day moving average of $100.14. Franklin Electric Co., Inc. has a 52-week low of $82.61 and a 52-week high of $108.39. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.65 and a quick ratio of 1.14.

Franklin Electric (NASDAQ:FELE) last posted its quarterly earnings data on Tuesday, July 23rd. The industrial products company reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.06). The business had revenue of $543.30 million for the quarter, compared to analyst estimates of $570.80 million. Franklin Electric had a return on equity of 15.57% and a net margin of 9.35%. Franklin Electric’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.27 EPS. As a group, equities research analysts anticipate that Franklin Electric Co., Inc. will post 4.22 EPS for the current year.

Franklin Electric Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend was Thursday, August 1st. Franklin Electric’s dividend payout ratio (DPR) is currently 24.88%.

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.