Gabelli Funds LLC Reduces Stock Position in Franklin Electric Co., Inc. (NASDAQ:FELE)

Gabelli Funds LLC decreased its stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 0.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 200,900 shares of the industrial products company’s stock after selling 500 shares during the quarter. Gabelli Funds LLC owned about 0.44% of Franklin Electric worth $19,351,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted 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 purchasing an additional 147 shares during the last quarter. Principal Securities Inc. acquired a new position in Franklin Electric in the fourth quarter valued at approximately $33,000. ORG Partners LLC purchased a new position in Franklin Electric in the second quarter worth approximately $36,000. TFO Wealth Partners LLC increased its stake in Franklin Electric by 121,400.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,215 shares of the industrial products company’s stock worth $117,000 after acquiring an additional 1,214 shares during the last quarter. Finally, Quest Partners LLC purchased a new stake in Franklin Electric in the fourth quarter valued at $147,000. Institutional investors and hedge funds own 79.98% of the company’s stock.

Franklin Electric Stock Performance

Shares of Franklin Electric stock opened at $102.29 on Monday. The firm has a market cap of $4.71 billion, a PE ratio of 25.45, a price-to-earnings-growth ratio of 1.88 and a beta of 0.95. The company has a quick ratio of 1.14, a current ratio of 2.65 and a debt-to-equity ratio of 0.07. Franklin Electric Co., Inc. has a 52 week low of $82.61 and a 52 week high of $108.39. The business’s fifty day simple moving average is $100.54 and its 200-day simple moving average is $100.10.

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

Franklin Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend was Thursday, August 1st. Franklin Electric’s payout ratio is 24.88%.

Insider Buying and Selling at Franklin Electric

In other news, insider Jay J. Walsh sold 14,090 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $104.57, for a total transaction of $1,473,391.30. Following the completion of the transaction, the insider now directly owns 16,927 shares in the company, valued at $1,770,056.39. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Franklin Electric news, insider Gregg C. Sengstack sold 5,396 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $106.64, for a total transaction 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 SEC, which is available through this link. Also, insider Jay J. Walsh sold 14,090 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $104.57, for a total transaction of $1,473,391.30. Following the completion of the transaction, the insider now directly owns 16,927 shares of the company’s stock, valued at approximately $1,770,056.39. The disclosure for this sale can be found here. Insiders have sold a total of 24,486 shares of company stock valued at $2,568,171 over the last quarter. 2.72% of the stock is owned by company insiders.

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.