Oppenheimer Asset Management Inc. Purchases 2,037 Shares of Franklin Electric Co., Inc. (NASDAQ:FELE)

Oppenheimer Asset Management Inc. increased its position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 10.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,776 shares of the industrial products company’s stock after purchasing an additional 2,037 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Franklin Electric were worth $2,097,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. GAMMA Investing LLC increased its holdings in Franklin Electric by 88.0% in the 1st quarter. GAMMA Investing LLC now owns 314 shares of the industrial products company’s stock valued at $34,000 after buying an additional 147 shares during the period. Principal Securities Inc. acquired a new stake in shares of Franklin Electric during the fourth quarter worth $33,000. ORG Partners LLC bought a new stake in Franklin Electric in the 2nd quarter valued at $36,000. TFO Wealth Partners LLC boosted its stake in Franklin Electric by 121,400.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,215 shares of the industrial products company’s stock worth $117,000 after purchasing an additional 1,214 shares during the period. Finally, Quest Partners LLC bought a new position in Franklin Electric during the 4th quarter worth about $147,000. 79.98% of the stock is currently owned by institutional investors and hedge funds.

Franklin Electric Stock Performance

FELE opened at $100.12 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.65 and a quick ratio of 1.14. The company has a market capitalization of $4.61 billion, a price-to-earnings ratio of 24.91, a P/E/G ratio of 1.88 and a beta of 0.95. The business’s 50-day moving average price is $100.25 and its two-hundred day moving average price is $100.11. Franklin Electric Co., Inc. has a 1 year low of $82.61 and a 1 year high of $108.39.

Franklin Electric (NASDAQ:FELE) last released its earnings results on Tuesday, July 23rd. The industrial products company reported $1.26 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.06). Franklin Electric had a net margin of 9.35% and a return on equity of 15.57%. The firm had revenue of $543.30 million during the quarter, compared to the consensus estimate of $570.80 million. During the same quarter in the previous year, the firm posted $1.27 EPS. The company’s revenue was down 4.6% on a year-over-year basis. Equities analysts expect that Franklin Electric Co., Inc. will post 4.22 EPS for the current fiscal year.

Franklin Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $1.00 annualized dividend and a yield of 1.00%. Franklin Electric’s payout ratio is currently 24.88%.

Insiders Place Their Bets

In other news, insider Gregg C. Sengstack sold 5,000 shares of the firm’s 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 completion of the transaction, the insider now owns 108,489 shares in the company, valued at approximately $11,268,752.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Gregg C. Sengstack sold 5,000 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $103.87, for a total transaction of $519,350.00. Following the completion of the transaction, the insider now directly owns 108,489 shares of the company’s stock, valued at $11,268,752.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jay J. Walsh sold 14,090 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $104.57, for a total value of $1,473,391.30. Following the transaction, the insider now directly owns 16,927 shares in the company, valued at approximately $1,770,056.39. The disclosure for this sale can be found here. Insiders have sold 24,486 shares of company stock valued at $2,568,171 in the last three months. 2.72% of the stock is currently owned by corporate insiders.

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.