Strs Ohio Acquires 10,800 Shares of Franklin Electric Co. (NASDAQ:FELE)

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Strs Ohio raised its holdings in Franklin Electric Co. (NASDAQ:FELE) by 98.2% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 21,800 shares of the industrial products company’s stock after acquiring an additional 10,800 shares during the quarter. Strs Ohio’s holdings in Franklin Electric were worth $1,035,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP grew its holdings in shares of Franklin Electric by 0.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,705,695 shares of the industrial products company’s stock valued at $73,140,000 after purchasing an additional 5,165 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Franklin Electric by 241.0% during the 4th quarter. Millennium Management LLC now owns 81,377 shares of the industrial products company’s stock valued at $3,489,000 after purchasing an additional 57,511 shares during the last quarter. Norges Bank bought a new stake in shares of Franklin Electric during the 4th quarter valued at approximately $23,579,000. Geode Capital Management LLC grew its holdings in shares of Franklin Electric by 10.8% during the 4th quarter. Geode Capital Management LLC now owns 490,437 shares of the industrial products company’s stock valued at $21,029,000 after purchasing an additional 47,858 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in shares of Franklin Electric during the 1st quarter valued at approximately $64,000. 77.66% of the stock is currently owned by institutional investors.

FELE has been the topic of a number of research reports. Boenning Scattergood lowered shares of Franklin Electric from an “outperform” rating to a “neutral” rating in a report on Tuesday, April 23rd. BidaskClub lowered shares of Franklin Electric from a “buy” rating to a “hold” rating in a report on Wednesday. Zacks Investment Research lowered shares of Franklin Electric from a “hold” rating to a “sell” rating in a report on Tuesday, June 25th. Finally, ValuEngine lowered shares of Franklin Electric from a “buy” rating to a “hold” rating in a report on Monday, May 13th.

In other news, VP John J. Haines sold 18,600 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $47.07, for a total value of $875,502.00. Following the transaction, the vice president now owns 64,043 shares in the company, valued at approximately $3,014,504.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Donald P. Kenney sold 1,313 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $46.21, for a total transaction of $60,673.73. The disclosure for this sale can be found here. Insiders own 2.88% of the company’s stock.

FELE opened at $45.53 on Wednesday. Franklin Electric Co. has a fifty-two week low of $38.87 and a fifty-two week high of $55.59. The company has a quick ratio of 0.98, a current ratio of 2.15 and a debt-to-equity ratio of 0.15. The company has a market cap of $2.11 billion, a price-to-earnings ratio of 20.15, a price-to-earnings-growth ratio of 4.12 and a beta of 1.31. The stock’s 50 day simple moving average is $46.10.

Franklin Electric (NASDAQ:FELE) last posted its earnings results on Tuesday, July 23rd. The industrial products company reported $0.70 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.74 by ($0.04). Franklin Electric had a return on equity of 13.17% and a net margin of 7.36%. The business had revenue of $355.30 million for the quarter, compared to the consensus estimate of $358.31 million. During the same period in the previous year, the firm earned $0.65 earnings per share. The company’s revenue was up 3.3% compared to the same quarter last year. As a group, research analysts expect that Franklin Electric Co. will post 2.21 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st will be issued a dividend of $0.145 per share. This represents a $0.58 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date is Wednesday, July 31st. Franklin Electric’s payout ratio is 25.66%.

Franklin Electric Profile

Franklin Electric Co, Inc, together with its subsidiaries, designs, manufactures, and distributes water and fuel pumping systems worldwide. It operates in three segments: Water Systems, Fueling Systems, and Distribution. The Water Systems segment offers submersible motors, pumps, drives, electronic controls, monitoring devices, and related parts and equipment.

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Institutional Ownership by Quarter for Franklin Electric (NASDAQ:FELE)

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