Mutual of America Capital Management LLC Decreases Stake in Franklin Electric Co., Inc. (NASDAQ:FELE)

Mutual of America Capital Management LLC decreased its position in shares of Franklin Electric Co., Inc. (NASDAQ:FELEFree Report) by 5.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 60,344 shares of the industrial products company’s stock after selling 3,782 shares during the quarter. Mutual of America Capital Management LLC owned 0.13% of Franklin Electric worth $5,384,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. O Shaughnessy Asset Management LLC lifted its stake in Franklin Electric by 2.6% during the 2nd quarter. O Shaughnessy Asset Management LLC now owns 4,326 shares of the industrial products company’s stock valued at $445,000 after acquiring an additional 108 shares during the period. Natixis raised its stake in Franklin Electric by 17.8% during the 2nd quarter. Natixis now owns 756 shares of the industrial products company’s stock valued at $78,000 after buying an additional 114 shares during the last quarter. Inspire Investing LLC lifted its holdings in shares of Franklin Electric by 3.9% during the 2nd quarter. Inspire Investing LLC now owns 3,129 shares of the industrial products company’s stock valued at $322,000 after buying an additional 117 shares during the period. Quadrant Capital Group LLC boosted its stake in shares of Franklin Electric by 7.5% in the 2nd quarter. Quadrant Capital Group LLC now owns 1,753 shares of the industrial products company’s stock worth $180,000 after buying an additional 123 shares during the last quarter. Finally, Ameritas Investment Partners Inc. grew its holdings in shares of Franklin Electric by 3.5% in the second quarter. Ameritas Investment Partners Inc. now owns 3,817 shares of the industrial products company’s stock worth $393,000 after acquiring an additional 128 shares during the period. Institutional investors own 77.96% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Franklin Electric from a “strong-buy” rating to a “buy” rating in a research report on Sunday, January 14th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Franklin Electric presently has an average rating of “Hold” and a consensus target price of $96.00.

Check Out Our Latest Report on Franklin Electric

Insider Buying and Selling at Franklin Electric

In related news, CEO Gregg C. Sengstack sold 9,000 shares of the business’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $90.25, for a total value of $812,250.00. Following the sale, the chief executive officer now owns 170,619 shares in the company, valued at $15,398,364.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Gregg C. Sengstack sold 9,000 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $90.25, for a total value of $812,250.00. Following the completion of the sale, the chief executive officer now directly owns 170,619 shares of the company’s stock, valued at approximately $15,398,364.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Delancey W. Davis sold 1,000 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $90.80, for a total value of $90,800.00. Following the completion of the sale, the insider now owns 9,716 shares of the company’s stock, valued at $882,212.80. The disclosure for this sale can be found here. 2.84% of the stock is currently owned by company insiders.

Franklin Electric Price Performance

NASDAQ FELE opened at $99.48 on Monday. The business’s fifty day moving average is $94.88 and its 200 day moving average is $92.47. Franklin Electric Co., Inc. has a fifty-two week low of $82.61 and a fifty-two week high of $107.36. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.09 and a current ratio of 2.74. The company has a market capitalization of $4.59 billion, a PE ratio of 24.09, a price-to-earnings-growth ratio of 1.88 and a beta of 0.95.

Franklin Electric Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Thursday, February 1st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.01%. This is a boost from Franklin Electric’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Wednesday, January 31st. Franklin Electric’s payout ratio is 24.21%.

Franklin Electric Company Profile

(Free Report)

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

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

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