Amalgamated Bank lifted its position in Franklin Electric Co., Inc. (NASDAQ:FELE) by 4.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,324 shares of the industrial products company’s stock after purchasing an additional 298 shares during the quarter. Amalgamated Bank’s holdings in Franklin Electric Co. were worth $262,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the company. Manchester Capital Management LLC increased its holdings in shares of Franklin Electric Co. by 0.3% in the second quarter. Manchester Capital Management LLC now owns 19,140 shares of the industrial products company’s stock worth $792,000 after purchasing an additional 50 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of Franklin Electric Co. by 0.5% in the second quarter. Arizona State Retirement System now owns 20,121 shares of the industrial products company’s stock worth $833,000 after purchasing an additional 100 shares during the last quarter. Fifth Third Bancorp increased its holdings in shares of Franklin Electric Co. by 8.0% in the first quarter. Fifth Third Bancorp now owns 2,638 shares of the industrial products company’s stock worth $114,000 after purchasing an additional 196 shares during the last quarter. Texas Permanent School Fund increased its holdings in shares of Franklin Electric Co. by 1.0% in the second quarter. Texas Permanent School Fund now owns 28,149 shares of the industrial products company’s stock worth $1,165,000 after purchasing an additional 276 shares during the last quarter. Finally, Dubuque Bank & Trust Co. increased its holdings in shares of Franklin Electric Co. by 6.7% in the second quarter. Dubuque Bank & Trust Co. now owns 5,361 shares of the industrial products company’s stock worth $222,000 after purchasing an additional 338 shares during the last quarter. 77.00% of the stock is currently owned by hedge funds and other institutional investors.

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In related news, insider Robert J. Stone sold 39,260 shares of the company’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $45.00, for a total transaction of $1,766,700.00. Following the completion of the transaction, the insider now owns 39,392 shares in the company, valued at approximately $1,772,640. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.54% of the stock is owned by corporate insiders.

FELE has been the topic of several research reports. BidaskClub cut Franklin Electric Co. from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st. Boenning Scattergood reaffirmed an “outperform” rating on shares of Franklin Electric Co. in a report on Tuesday, September 5th. Zacks Investment Research raised Franklin Electric Co. from a “sell” rating to a “hold” rating and set a $45.00 target price on the stock in a report on Wednesday, July 26th. Finally, Robert W. Baird reaffirmed a “hold” rating and issued a $45.00 target price on shares of Franklin Electric Co. in a report on Wednesday, October 4th.

Franklin Electric Co. (NASDAQ:FELE) last released its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.04. Franklin Electric Co. had a net margin of 8.62% and a return on equity of 13.10%. The firm had revenue of $305.35 million during the quarter, compared to the consensus estimate of $310.13 million. During the same quarter in the prior year, the firm earned $0.51 EPS. The company’s revenue for the quarter was up 21.1% on a year-over-year basis.

Franklin Electric Co. Profile

Franklin Electric Co, Inc designs, manufactures and distributes water and fuel pumping systems, consisting of submersible motors, pumps, electronic controls and related parts and equipment. Its segments include Water Systems segment, the Fueling Systems segment and Other. Its Water Systems segment is engaged in the production and marketing of water pumping systems and offers motors, pumps, drives, electronic controls and monitoring devices.

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

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