Chesapeake Capital Corp IL Grows Stock Holdings in Franklin Electric Co., Inc. (NASDAQ:FELE)

Chesapeake Capital Corp IL increased its stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 79.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,610 shares of the industrial products company’s stock after purchasing an additional 2,046 shares during the period. Chesapeake Capital Corp IL’s holdings in Franklin Electric were worth $484,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Acadian Asset Management LLC purchased a new position in shares of Franklin Electric during the first quarter valued at approximately $968,000. Vanguard Group Inc. increased its holdings in Franklin Electric by 0.6% during the first quarter. Vanguard Group Inc. now owns 4,751,322 shares of the industrial products company’s stock valued at $507,489,000 after buying an additional 30,408 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in Franklin Electric by 12.3% during the first quarter. CANADA LIFE ASSURANCE Co now owns 48,629 shares of the industrial products company’s stock valued at $5,197,000 after buying an additional 5,311 shares during the last quarter. SG Americas Securities LLC increased its holdings in Franklin Electric by 357.6% during the second quarter. SG Americas Securities LLC now owns 9,230 shares of the industrial products company’s stock valued at $889,000 after buying an additional 7,213 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in Franklin Electric by 40.0% during the third quarter. Van ECK Associates Corp now owns 24,818 shares of the industrial products company’s stock valued at $2,532,000 after buying an additional 7,092 shares during the last quarter. 79.98% of the stock is owned by hedge funds and other institutional investors.

Franklin Electric Stock Down 0.6 %

Shares of FELE stock opened at $106.09 on Friday. The stock has a market cap of $4.85 billion, a P/E ratio of 26.86, a P/E/G ratio of 2.32 and a beta of 0.96. Franklin Electric Co., Inc. has a 12 month low of $87.65 and a 12 month high of $110.97. The company has a 50 day simple moving average of $102.81 and a two-hundred day simple moving average of $100.44. The company has a current ratio of 2.40, a quick ratio of 1.06 and a debt-to-equity ratio of 0.01.

Franklin Electric (NASDAQ:FELE) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.10). The firm had revenue of $531.40 million during the quarter, compared to the consensus estimate of $551.08 million. Franklin Electric had a return on equity of 15.03% and a net margin of 9.22%. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.23 earnings per share. On average, research analysts expect that Franklin Electric Co., Inc. will post 3.81 earnings per share for the current year.

Franklin Electric Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th will be given a $0.25 dividend. The ex-dividend date is Thursday, November 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.94%. Franklin Electric’s payout ratio is currently 25.32%.

Insiders Place Their Bets

In other Franklin Electric news, insider Gregg C. Sengstack sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $100.22, for a total value of $150,330.00. Following the completion of the transaction, the insider now directly owns 9,032 shares in the company, valued at $905,187.04. This represents a 14.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.72% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird reduced their target price on shares of Franklin Electric from $107.00 to $105.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th.

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.