Franklin Electric Co., Inc. (FELE) to Issue Quarterly Dividend of $0.10 on February 16th

Franklin Electric Co., Inc. (FELE) to Issue Quarterly Dividend of $0.10 on  February 16th

Franklin Electric Co., Inc. (NASDAQ:FELE) announced a quarterly dividend on Tuesday, January 24th. Investors of record on Thursday, February 2nd will be paid a dividend of 0.10 per share on Thursday, February 16th. This represents a $0.40 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend is Tuesday, January 31st.

Shares of Franklin Electric Co. (NASDAQ:FELE) opened at 41.20 on Monday. The company’s 50 day moving average is $39.86 and its 200 day moving average is $38.93. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of 25.61 and a beta of 1.50. Franklin Electric Co. has a one year low of $25.87 and a one year high of $44.55.

In other Franklin Electric Co. news, insider Robert J. Stone sold 10,000 shares of the stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $42.04, for a total transaction of $420,400.00. Following the transaction, the insider now directly owns 26,459 shares in the company, valued at $1,112,336.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Steven William Aikman sold 5,700 shares of the stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of $41.63, for a total transaction of $237,291.00. Following the transaction, the vice president now owns 19,613 shares in the company, valued at $816,489.19. The disclosure for this sale can be found here. Company insiders own 2.67% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of FELE. BlackRock Investment Management LLC boosted its position in shares of Franklin Electric Co. by 4.2% in the second quarter. BlackRock Investment Management LLC now owns 190,974 shares of the company’s stock worth $6,312,000 after buying an additional 7,675 shares during the last quarter. BlackRock Inc. boosted its position in shares of Franklin Electric Co. by 4.1% in the second quarter. BlackRock Inc. now owns 18,337 shares of the company’s stock valued at $606,000 after buying an additional 724 shares in the last quarter. BlackRock Fund Advisors boosted its position in shares of Franklin Electric Co. by 1.3% in the second quarter. BlackRock Fund Advisors now owns 2,654,688 shares of the company’s stock valued at $87,737,000 after buying an additional 34,643 shares in the last quarter. BlackRock Group LTD boosted its position in shares of Franklin Electric Co. by 4.7% in the second quarter. BlackRock Group LTD now owns 153,854 shares of the company’s stock valued at $5,085,000 after buying an additional 6,926 shares in the last quarter. Finally, US Bancorp DE boosted its position in shares of Franklin Electric Co. by 39.1% in the second quarter. US Bancorp DE now owns 18,331 shares of the company’s stock valued at $606,000 after buying an additional 5,153 shares in the last quarter. Institutional investors and hedge funds own 78.69% of the company’s stock.

Separately, Zacks Investment Research raised shares of Franklin Electric Co. from a “sell” rating to a “hold” rating in a report on Monday, December 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $36.00.

Franklin Electric Co. Company Profile

Franklin Electric Co, Inc, together with its subsidiaries, is engaged in designing, manufacturing and distributing water and fuel pumping systems, composed of submersible motors, pumps, electronic controls, and related parts and equipment. The Company’s segments include the Water Systems segment and the Fueling Systems segment.

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