Azzad Asset Management Inc. ADV Trims Stock Holdings in Franklin Electric Co., Inc. (NASDAQ:FELE)

Azzad Asset Management Inc. ADV decreased its holdings in Franklin Electric Co., Inc. (NASDAQ:FELE) by 15.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,066 shares of the industrial products company’s stock after selling 1,268 shares during the period. Azzad Asset Management Inc. ADV’s holdings in Franklin Electric were worth $741,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. GAMMA Investing LLC increased its stake in shares of Franklin Electric by 88.0% in the first quarter. GAMMA Investing LLC now owns 314 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 147 shares in the last quarter. ORG Partners LLC bought a new position in shares of Franklin Electric in the second quarter valued at approximately $36,000. Intech Investment Management LLC bought a new position in shares of Franklin Electric in the second quarter valued at approximately $203,000. Heritage Family Offices LLP bought a new position in shares of Franklin Electric in the second quarter valued at approximately $217,000. Finally, Chesapeake Capital Corp IL bought a new position in shares of Franklin Electric in the second quarter valued at approximately $247,000. Hedge funds and other institutional investors own 79.98% of the company’s stock.

Franklin Electric Price Performance

FELE stock opened at $103.92 on Wednesday. The firm has a 50 day moving average of $100.64 and a 200-day moving average of $100.23. The company has a current ratio of 2.65, a quick ratio of 1.14 and a debt-to-equity ratio of 0.07. Franklin Electric Co., Inc. has a 12 month low of $82.61 and a 12 month high of $108.39. The firm has a market capitalization of $4.79 billion, a P/E ratio of 25.85, a price-to-earnings-growth ratio of 2.02 and a beta of 0.95.

Franklin Electric (NASDAQ:FELE) last released its quarterly earnings data 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 firm had revenue of $543.30 million during the quarter, compared to the consensus estimate of $570.80 million. During the same quarter last year, the business posted $1.27 earnings per share. Franklin Electric’s revenue was down 4.6% compared to the same quarter last year. As a group, sell-side analysts predict that Franklin Electric Co., Inc. will post 4.22 earnings per share for the current fiscal year.

Franklin Electric Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st were given 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 payout ratio is presently 24.88%.

Insider Buying and Selling at Franklin Electric

In other Franklin Electric news, insider Jay J. Walsh sold 14,090 shares of Franklin Electric 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 sale, the insider now directly owns 16,927 shares in the company, valued at $1,770,056.39. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Gregg C. Sengstack sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $103.87, for a total value of $519,350.00. Following the completion of 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 transaction of $1,473,391.30. Following the completion of the sale, the insider now owns 16,927 shares of the company’s stock, valued at approximately $1,770,056.39. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,486 shares of company stock worth $2,568,171 over the last three months. 2.72% of the stock is owned by insiders.

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.