Mutual of America Capital Management LLC Cuts Stock Holdings in Franklin Electric Co., Inc. (NASDAQ:FELE)

Mutual of America Capital Management LLC cut its position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 88.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,952 shares of the industrial products company’s stock after selling 44,795 shares during the period. Mutual of America Capital Management LLC’s holdings in Franklin Electric were worth $580,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Spire Wealth Management purchased a new stake in shares of Franklin Electric during the 4th quarter worth about $29,000. Trust Co. of Vermont purchased a new position in Franklin Electric during the fourth quarter worth approximately $40,000. Blue Trust Inc. grew its holdings in Franklin Electric by 66.2% in the fourth quarter. Blue Trust Inc. now owns 497 shares of the industrial products company’s stock valued at $52,000 after purchasing an additional 198 shares during the period. Point72 DIFC Ltd purchased a new stake in shares of Franklin Electric in the third quarter valued at approximately $77,000. Finally, Covestor Ltd raised its stake in shares of Franklin Electric by 15.6% during the 3rd quarter. Covestor Ltd now owns 765 shares of the industrial products company’s stock worth $80,000 after buying an additional 103 shares during the period. Institutional investors and hedge funds own 79.98% of the company’s stock.

Franklin Electric Price Performance

Franklin Electric stock opened at $102.75 on Monday. The stock has a market capitalization of $4.70 billion, a P/E ratio of 26.69, a P/E/G ratio of 2.11 and a beta of 0.98. The company’s fifty day moving average price is $99.71 and its 200 day moving average price is $101.97. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.06 and a current ratio of 2.22. Franklin Electric Co., Inc. has a 1 year low of $91.67 and a 1 year high of $111.94.

Franklin Electric (NASDAQ:FELE) last announced its 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 net margin of 8.92% and a return on equity of 14.46%. The business had revenue of $485.75 million for the quarter, compared to analyst estimates of $465.87 million. As a group, equities research analysts anticipate that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current fiscal year.

Franklin Electric Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were issued a dividend of $0.265 per share. The ex-dividend date was Thursday, February 6th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.03%. This is a boost from Franklin Electric’s previous quarterly dividend of $0.25. Franklin Electric’s dividend payout ratio is presently 27.53%.

Insider Activity

In related news, insider Delancey W. Davis sold 961 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $103.14, for a total value of $99,117.54. Following the completion of the transaction, the insider now directly owns 7,701 shares of the company’s stock, valued at approximately $794,281.14. This represents a 11.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.72% of the company’s stock.

Franklin Electric Company 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.