Franklin Electric (NASDAQ:FELE) Sets New 12-Month Low After Earnings Miss

Franklin Electric Co., Inc. (NASDAQ:FELE) reached a new 52-week low on Tuesday following a dissappointing earnings announcement. The stock traded as low as $78.87 and last traded at $81.40, with a volume of 36975 shares changing hands. The stock had previously closed at $88.65.

The industrial products company reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.06). Franklin Electric had a net margin of 8.92% and a return on equity of 14.46%. The firm had revenue of $455.25 million during the quarter, compared to analysts’ expectations of $471.21 million. During the same quarter last year, the business earned $0.70 earnings per share. The business’s quarterly revenue was down 1.2% on a year-over-year basis.

Franklin Electric Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Shareholders of record on Thursday, May 8th will be issued a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date is Thursday, May 8th. Franklin Electric’s dividend payout ratio (DPR) is currently 27.53%.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird reduced their target price on Franklin Electric from $111.00 to $94.00 and set a “neutral” rating for the company in a report on Wednesday.

Insider Buying and Selling at Franklin Electric

In other news, insider Delancey W. Davis sold 961 shares of Franklin Electric stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $103.14, for a total transaction of $99,117.54. Following the completion of the transaction, the insider now owns 7,701 shares of the company’s stock, valued at $794,281.14. The trade was a 11.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 2.72% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in FELE. Barclays PLC raised its stake in shares of Franklin Electric by 237.3% during the 3rd quarter. Barclays PLC now owns 87,620 shares of the industrial products company’s stock worth $9,184,000 after buying an additional 61,640 shares during the last quarter. Tidal Investments LLC increased its position in Franklin Electric by 12.5% during the 3rd quarter. Tidal Investments LLC now owns 13,518 shares of the industrial products company’s stock worth $1,417,000 after purchasing an additional 1,502 shares in the last quarter. Franklin Resources Inc. increased its position in Franklin Electric by 9.9% during the 3rd quarter. Franklin Resources Inc. now owns 10,111 shares of the industrial products company’s stock worth $1,076,000 after purchasing an additional 914 shares in the last quarter. JPMorgan Chase & Co. increased its position in Franklin Electric by 26.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 154,305 shares of the industrial products company’s stock worth $16,174,000 after purchasing an additional 31,937 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in Franklin Electric by 14.5% during the 4th quarter. GAMMA Investing LLC now owns 1,398 shares of the industrial products company’s stock worth $136,000 after purchasing an additional 177 shares in the last quarter. Institutional investors and hedge funds own 79.98% of the company’s stock.

Franklin Electric Trading Up 0.2 %

The stock has a market cap of $3.89 billion, a PE ratio of 22.07, a PEG ratio of 2.11 and a beta of 1.02. The business has a 50-day moving average of $94.15 and a 200 day moving average of $99.39. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.06 and a current ratio of 2.22.

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.