Franklin Electric Co., Inc. Plans Quarterly Dividend of $0.28 (NASDAQ:FELE)

Franklin Electric Co., Inc. (NASDAQ:FELE) announced a quarterly dividend on Monday, July 27th. Stockholders of record on Thursday, August 6th will be paid a dividend of 0.28 per share by the industrial products company on Thursday, August 20th. This represents a c) dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Thursday, August 6th.

Franklin Electric has increased its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 33 years. Franklin Electric has a payout ratio of 23.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Franklin Electric to earn $5.09 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 22.0%.

Franklin Electric Stock Performance

Franklin Electric stock opened at $105.43 on Tuesday. Franklin Electric has a twelve month low of $89.54 and a twelve month high of $111.53. The company has a quick ratio of 1.14, a current ratio of 2.67 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $4.66 billion, a P/E ratio of 31.76, a PEG ratio of 1.92 and a beta of 1.03. The stock’s 50 day moving average is $102.64 and its 200 day moving average is $100.05.

Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings data on Tuesday, April 28th. The industrial products company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.06. Franklin Electric had a return on equity of 14.86% and a net margin of 6.91%.The business had revenue of $500.44 million during the quarter, compared to analysts’ expectations of $479.21 million. During the same quarter in the previous year, the business earned $0.67 earnings per share. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. On average, equities research analysts predict that Franklin Electric will post 4.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Franklin Electric news, insider Delancey W. Davis sold 1,900 shares of Franklin Electric stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $100.00, for a total value of $190,000.00. Following the completion of the sale, the insider owned 10,402 shares of the company’s stock, valued at approximately $1,040,200. This trade represents a 15.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jonathan M. Grandon sold 8,547 shares of the business’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $103.40, for a total value of $883,759.80. Following the completion of the transaction, the insider owned 7,509 shares of the company’s stock, valued at $776,430.60. This represents a 53.23% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 19,835 shares of company stock valued at $2,004,982. 2.89% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of FELE. Teacher Retirement System of Texas lifted its stake in Franklin Electric by 19.4% during the 4th quarter. Teacher Retirement System of Texas now owns 69,988 shares of the industrial products company’s stock valued at $6,686,000 after acquiring an additional 11,351 shares during the period. Seizert Capital Partners LLC bought a new stake in shares of Franklin Electric in the fourth quarter worth approximately $3,760,000. Principal Financial Group Inc. grew its stake in shares of Franklin Electric by 4.8% in the first quarter. Principal Financial Group Inc. now owns 224,135 shares of the industrial products company’s stock worth $20,659,000 after acquiring an additional 10,325 shares during the period. OLD National Bancorp IN purchased a new position in shares of Franklin Electric during the first quarter valued at approximately $2,010,000. Finally, Gamco Investors INC. ET AL raised its holdings in shares of Franklin Electric by 4.4% during the first quarter. Gamco Investors INC. ET AL now owns 256,624 shares of the industrial products company’s stock valued at $23,653,000 after purchasing an additional 10,858 shares during the last quarter. 79.98% of the stock is owned by institutional investors.

Franklin Electric Company Profile

Franklin Electric Co, Inc is a world?leading manufacturer and distributor of systems and components for moving and managing water and fuel. Headquartered in Fort Wayne, Indiana, the company specializes in designing engineered pumping systems and related controls for residential, commercial and industrial applications.

Founded in 1944, Franklin Electric has built its reputation on submersible and surface pumping solutions for water wells, municipal water and wastewater treatment, irrigation and industrial fluid handling.