CIBC Asset Management Inc Makes New $241,000 Investment in Franklin Electric Co., Inc. (NASDAQ:FELE)

CIBC Asset Management Inc bought a new stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,469 shares of the industrial products company’s stock, valued at approximately $241,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Van ECK Associates Corp grew its stake in Franklin Electric by 40.0% during the 3rd quarter. Van ECK Associates Corp now owns 24,818 shares of the industrial products company’s stock valued at $2,532,000 after purchasing an additional 7,092 shares in the last quarter. Intech Investment Management LLC boosted its stake in shares of Franklin Electric by 420.9% during the 3rd quarter. Intech Investment Management LLC now owns 11,001 shares of the industrial products company’s stock valued at $1,153,000 after buying an additional 8,889 shares during the last quarter. Blue Trust Inc. grew its position in shares of Franklin Electric by 55.7% during the third quarter. Blue Trust Inc. now owns 299 shares of the industrial products company’s stock worth $29,000 after buying an additional 107 shares in the last quarter. PDT Partners LLC grew its position in shares of Franklin Electric by 241.8% during the third quarter. PDT Partners LLC now owns 12,029 shares of the industrial products company’s stock worth $1,261,000 after buying an additional 8,510 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of Franklin Electric by 19.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 2,800 shares of the industrial products company’s stock worth $293,000 after buying an additional 451 shares during the last quarter. 79.98% of the stock is owned by hedge funds and other institutional investors.

Franklin Electric Trading Up 0.2 %

NASDAQ:FELE opened at $103.98 on Wednesday. The company has a market cap of $4.75 billion, a PE ratio of 27.01, a P/E/G ratio of 2.11 and a beta of 1.00. The business’s 50 day moving average is $99.29 and its two-hundred day moving average is $101.81. 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 Co., Inc. has a 52 week low of $91.67 and a 52 week high of $111.94.

Franklin Electric (NASDAQ:FELE) last posted its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.03. Franklin Electric had a return on equity of 14.46% and a net margin of 8.92%. The business had revenue of $485.75 million for the quarter, compared to analyst estimates of $465.87 million. On average, analysts predict that Franklin Electric Co., Inc. will post 4.19 EPS for the current year.

Franklin Electric Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were issued a $0.265 dividend. The ex-dividend date was Thursday, February 6th. This is a positive change from Franklin Electric’s previous quarterly dividend of $0.25. This represents a $1.06 annualized dividend and a dividend yield of 1.02%. Franklin Electric’s payout ratio is 27.53%.

Analysts Set New Price Targets

Separately, Robert W. Baird decreased their price objective on shares of Franklin Electric from $107.00 to $105.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th.

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.