Cullen Frost Bankers Inc. Sells 280 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE)

Cullen Frost Bankers Inc. reduced its stake in Franklin Electric Co., Inc. (NASDAQ:FELE) by 48.6% during the 4th quarter, Holdings Channel reports. The fund owned 296 shares of the industrial products company’s stock after selling 280 shares during the period. Cullen Frost Bankers Inc.’s holdings in Franklin Electric were worth $29,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Geode Capital Management LLC raised its holdings in Franklin Electric by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,004,057 shares of the industrial products company’s stock valued at $105,264,000 after acquiring an additional 9,170 shares during the period. Allianz Asset Management GmbH raised its holdings in Franklin Electric by 21.6% in the 4th quarter. Allianz Asset Management GmbH now owns 811,682 shares of the industrial products company’s stock valued at $79,098,000 after acquiring an additional 143,917 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Franklin Electric by 2.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 503,775 shares of the industrial products company’s stock valued at $49,093,000 after acquiring an additional 10,580 shares during the period. KBC Group NV raised its holdings in Franklin Electric by 7.3% in the 4th quarter. KBC Group NV now owns 415,179 shares of the industrial products company’s stock valued at $40,459,000 after acquiring an additional 28,121 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Franklin Electric by 15.9% in the 4th quarter. Bank of New York Mellon Corp now owns 392,080 shares of the industrial products company’s stock valued at $38,208,000 after acquiring an additional 53,825 shares during the period. 79.98% of the stock is owned by institutional investors.

Franklin Electric Stock Down 2.2 %

Franklin Electric stock opened at $100.50 on Tuesday. Franklin Electric Co., Inc. has a twelve month low of $91.67 and a twelve month high of $111.94. The company’s 50-day moving average price is $99.77 and its two-hundred day moving average price is $101.97. The stock has a market cap of $4.59 billion, a P/E ratio of 26.10, a P/E/G ratio of 2.11 and a beta of 0.98. The company has a quick ratio of 1.06, a current ratio of 2.22 and a debt-to-equity ratio of 0.01.

Franklin Electric (NASDAQ:FELE) last announced its earnings results on Tuesday, February 18th. The industrial products company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.69 by $0.03. Franklin Electric had a net margin of 8.92% and a return on equity of 14.46%. The company had revenue of $485.75 million for the quarter, compared to analysts’ expectations of $465.87 million. As a group, analysts expect that Franklin Electric Co., Inc. will post 4.19 EPS for the current year.

Franklin Electric Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were issued a dividend of $0.265 per share. The ex-dividend date of this dividend was Thursday, February 6th. This is a boost from Franklin Electric’s previous quarterly dividend of $0.25. This represents a $1.06 annualized dividend and a dividend yield of 1.05%. Franklin Electric’s dividend payout ratio (DPR) is currently 27.53%.

Insider Transactions at Franklin Electric

In related news, insider Delancey W. Davis sold 961 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $103.14, for a total transaction of $99,117.54. Following the sale, the insider now owns 7,701 shares in the company, valued at approximately $794,281.14. This trade represents a 11.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.72% of the company’s stock.

About Franklin Electric

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.