Algert Global LLC Makes New Investment in Franklin Electric Co., Inc. (NASDAQ:FELE)

Algert Global LLC acquired a new position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 3,947 shares of the industrial products company’s stock, valued at approximately $380,000.

Several other large investors have also modified their holdings of the stock. The Manufacturers Life Insurance Company boosted its position in shares of Franklin Electric by 1.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,209 shares of the industrial products company’s stock valued at $2,428,000 after purchasing an additional 377 shares during the period. Earnest Partners LLC increased its holdings in shares of Franklin Electric by 2.6% in the 2nd quarter. Earnest Partners LLC now owns 1,563,125 shares of the industrial products company’s stock valued at $150,560,000 after purchasing an additional 39,478 shares in the last quarter. AQR Capital Management LLC raised its holdings in Franklin Electric by 23.3% during the second quarter. AQR Capital Management LLC now owns 12,194 shares of the industrial products company’s stock worth $1,175,000 after purchasing an additional 2,302 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of Franklin Electric by 1.0% in the second quarter. Marshall Wace LLP now owns 11,009 shares of the industrial products company’s stock valued at $1,060,000 after purchasing an additional 109 shares in the last quarter. Finally, Public Sector Pension Investment Board increased its position in Franklin Electric by 7.2% during the second quarter. Public Sector Pension Investment Board now owns 87,162 shares of the industrial products company’s stock worth $8,395,000 after buying an additional 5,841 shares in the last quarter. Institutional investors and hedge funds own 79.98% of the company’s stock.

Insider Buying and Selling

In other Franklin Electric 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 transaction, the insider now directly owns 108,489 shares of the company’s stock, valued at $11,268,752.43. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Franklin Electric news, insider Gregg C. Sengstack sold 5,396 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $106.64, for a total value of $575,429.44. Following the completion of the transaction, the insider now directly owns 98,093 shares of the company’s stock, valued at $10,460,637.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Gregg C. Sengstack sold 5,000 shares of Franklin Electric 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 sale, the insider now directly owns 108,489 shares in the company, valued at approximately $11,268,752.43. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 24,486 shares of company stock valued at $2,568,171. Company insiders own 2.72% of the company’s stock.

Franklin Electric Trading Up 0.8 %

Shares of FELE stock opened at $104.57 on Tuesday. The company has a current ratio of 2.65, a quick ratio of 1.14 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $4.82 billion, a price-to-earnings ratio of 26.01, a PEG ratio of 2.02 and a beta of 0.95. The firm has a 50-day moving average price of $100.68 and a 200 day moving average price of $100.24. Franklin Electric Co., Inc. has a twelve month low of $82.61 and a twelve month high of $108.39.

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

Franklin Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, August 1st. This represents a $1.00 annualized dividend and a yield of 0.96%. Franklin Electric’s dividend payout ratio is currently 24.88%.

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.