Franklin Electric (NASDAQ:FELE) Sets New 12-Month Low on Disappointing Earnings

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

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

Franklin Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Thursday, May 8th will be given a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 1.30%. Franklin Electric’s dividend payout ratio (DPR) is currently 27.53%.

Insider Buying and Selling at Franklin Electric

In other Franklin Electric news, insider Delancey W. Davis sold 961 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $103.14, for a total value of $99,117.54. Following the transaction, the insider now directly owns 7,701 shares of the company’s stock, valued at approximately $794,281.14. This trade represents a 11.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.72% of the company’s stock.

Institutional Trading of Franklin Electric

Institutional investors and hedge funds have recently modified their holdings of the stock. Mariner LLC grew its stake in Franklin Electric by 1.8% in the fourth quarter. Mariner LLC now owns 6,471 shares of the industrial products company’s stock valued at $631,000 after acquiring an additional 116 shares during the period. BHK Investment Advisors LLC raised its position in shares of Franklin Electric by 2.5% in the fourth quarter. BHK Investment Advisors LLC now owns 5,139 shares of the industrial products company’s stock valued at $501,000 after buying an additional 125 shares in the last quarter. Captrust Financial Advisors boosted its position in shares of Franklin Electric by 0.4% during the 4th quarter. Captrust Financial Advisors now owns 31,879 shares of the industrial products company’s stock worth $3,107,000 after acquiring an additional 137 shares in the last quarter. Sanctuary Advisors LLC boosted its position in Franklin Electric by 3.4% in the fourth quarter. Sanctuary Advisors LLC now owns 4,372 shares of the industrial products company’s stock valued at $434,000 after buying an additional 145 shares in the last quarter. Finally, Summit Investment Advisors Inc. increased its holdings in Franklin Electric by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,739 shares of the industrial products company’s stock worth $462,000 after purchasing an additional 150 shares in the last quarter. 79.98% of the stock is owned by institutional investors.

Franklin Electric Stock Performance

The company has a current ratio of 2.22, a quick ratio of 1.06 and a debt-to-equity ratio of 0.01. The company’s 50-day simple moving average is $94.96 and its 200-day simple moving average is $99.59. The stock has a market capitalization of $3.72 billion, a price-to-earnings ratio of 21.24, a PEG ratio of 2.11 and a beta of 1.02.

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.