OneAscent Financial Services LLC Takes Position in Franklin Electric Co., Inc. (NASDAQ:FELE)

OneAscent Financial Services LLC purchased a new position in Franklin Electric Co., Inc. (NASDAQ:FELE) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,128 shares of the industrial products company’s stock, valued at approximately $223,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its stake in shares of Franklin Electric by 55.7% during the third quarter. Blue Trust Inc. now owns 299 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 107 shares in the last quarter. ORG Partners LLC purchased a new position in shares of Franklin Electric in the 2nd quarter valued at about $36,000. GAMMA Investing LLC raised its position in shares of Franklin Electric by 130.6% during the 2nd quarter. GAMMA Investing LLC now owns 724 shares of the industrial products company’s stock worth $70,000 after acquiring an additional 410 shares in the last quarter. CWM LLC lifted its stake in Franklin Electric by 16.7% during the third quarter. CWM LLC now owns 684 shares of the industrial products company’s stock worth $72,000 after purchasing an additional 98 shares during the last quarter. Finally, USA Financial Formulas purchased a new position in Franklin Electric in the third quarter valued at approximately $74,000. Institutional investors and hedge funds own 79.98% of the company’s stock.

Analyst Ratings Changes

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

Franklin Electric Stock Down 0.7 %

Shares of NASDAQ FELE opened at $105.34 on Wednesday. The company has a quick ratio of 1.06, a current ratio of 2.40 and a debt-to-equity ratio of 0.01. Franklin Electric Co., Inc. has a 52-week low of $87.65 and a 52-week high of $110.97. The business has a 50-day moving average price of $103.02 and a 200 day moving average price of $100.54. The stock has a market cap of $4.81 billion, a PE ratio of 26.67, a price-to-earnings-growth ratio of 2.32 and a beta of 0.96.

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

Franklin Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 7th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.95%. The ex-dividend date is Thursday, November 7th. Franklin Electric’s dividend payout ratio (DPR) is presently 25.32%.

Insider Buying and Selling at Franklin Electric

In other Franklin Electric news, insider Gregg C. Sengstack sold 1,500 shares of the business’s stock in a transaction 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 transaction, the insider now directly owns 9,032 shares of the company’s stock, valued at approximately $905,187.04. The trade was a 14.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.72% of the stock is owned by company insiders.

Franklin Electric 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.