Municipal Employees Retirement System of Michigan increased its holdings in Franklin Electric Co., Inc. (NASDAQ:FELE) by 49.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,280 shares of the industrial products company’s stock after buying an additional 5,380 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Franklin Electric were worth $730,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Manchester Capital Management LLC raised its position in Franklin Electric by 0.3% during the second quarter. Manchester Capital Management LLC now owns 19,140 shares of the industrial products company’s stock valued at $792,000 after purchasing an additional 50 shares in the last quarter. Arizona State Retirement System raised its position in Franklin Electric by 0.5% during the second quarter. Arizona State Retirement System now owns 20,121 shares of the industrial products company’s stock valued at $833,000 after purchasing an additional 100 shares in the last quarter. Advisor Group Inc. raised its position in Franklin Electric by 3.9% during the second quarter. Advisor Group Inc. now owns 3,071 shares of the industrial products company’s stock valued at $127,000 after purchasing an additional 116 shares in the last quarter. Stifel Financial Corp raised its position in Franklin Electric by 2.3% during the second quarter. Stifel Financial Corp now owns 10,768 shares of the industrial products company’s stock valued at $446,000 after purchasing an additional 238 shares in the last quarter. Finally, Texas Permanent School Fund raised its position in Franklin Electric by 1.0% during the second quarter. Texas Permanent School Fund now owns 28,149 shares of the industrial products company’s stock valued at $1,165,000 after purchasing an additional 276 shares in the last quarter. Institutional investors own 78.06% of the company’s stock.

FELE has been the subject of several research analyst reports. Seaport Global Securities restated a “neutral” rating on shares of Franklin Electric in a research report on Wednesday, October 25th. Zacks Investment Research downgraded shares of Franklin Electric from a “buy” rating to a “hold” rating in a research report on Thursday, September 28th. BidaskClub downgraded shares of Franklin Electric from a “hold” rating to a “sell” rating in a research report on Friday, August 25th. Boenning Scattergood restated an “outperform” rating on shares of Franklin Electric in a research report on Tuesday, September 5th. Finally, Robert W. Baird restated a “hold” rating and set a $45.00 price objective on shares of Franklin Electric in a research report on Wednesday, October 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $49.33.

Franklin Electric Co., Inc. (NASDAQ FELE) opened at $46.35 on Thursday. The stock has a market cap of $2,194.70, a price-to-earnings ratio of 25.88 and a beta of 1.62. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.13 and a current ratio of 2.35. Franklin Electric Co., Inc. has a 1-year low of $36.00 and a 1-year high of $47.20.

Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.01. The company had revenue of $311.11 million during the quarter, compared to the consensus estimate of $317.54 million. Franklin Electric had a net margin of 8.13% and a return on equity of 13.09%. The company’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.48 earnings per share. research analysts predict that Franklin Electric Co., Inc. will post 1.89 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, November 16th. Stockholders of record on Thursday, November 2nd were issued a dividend of $0.1075 per share. The ex-dividend date of this dividend was Wednesday, November 1st. This represents a $0.43 annualized dividend and a dividend yield of 0.93%. Franklin Electric’s dividend payout ratio (DPR) is presently 23.12%.

In other news, VP Donald P. Kenney sold 4,754 shares of the company’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $45.00, for a total transaction of $213,930.00. Following the completion of the transaction, the vice president now directly owns 19,129 shares in the company, valued at $860,805. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.54% of the stock is currently owned by corporate insiders.

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Franklin Electric Company 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.

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

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