Tributary Capital Management LLC Has $17.65 Million Stock Position in Franklin Electric Co., Inc. (NASDAQ:FELE)

Tributary Capital Management LLC increased its stake in Franklin Electric Co., Inc. (NASDAQ:FELE) by 1.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 181,123 shares of the industrial products company’s stock after purchasing an additional 2,212 shares during the quarter. Tributary Capital Management LLC’s holdings in Franklin Electric were worth $17,650,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. boosted its holdings in shares of Franklin Electric by 55.7% in the third quarter. Blue Trust Inc. now owns 299 shares of the industrial products company’s stock worth $29,000 after buying an additional 107 shares during the period. Trust Co. of Vermont purchased a new stake in shares of Franklin Electric in the 4th quarter valued at approximately $40,000. CWM LLC boosted its stake in Franklin Electric by 16.7% in the 3rd 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 period. USA Financial Formulas purchased a new position in Franklin Electric during the 3rd quarter worth approximately $74,000. Finally, Signaturefd LLC raised its stake in Franklin Electric by 29.9% during the 3rd quarter. Signaturefd LLC now owns 712 shares of the industrial products company’s stock valued at $75,000 after purchasing an additional 164 shares during the period. Institutional investors and hedge funds own 79.98% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird decreased their target price on 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 0.5 %

Franklin Electric stock opened at $98.57 on Friday. Franklin Electric Co., Inc. has a twelve month low of $91.67 and a twelve month high of $111.94. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.06 and a current ratio of 2.40. The firm has a market cap of $4.50 billion, a PE ratio of 24.95, a P/E/G ratio of 1.93 and a beta of 1.00. The firm’s 50 day moving average price is $101.73 and its two-hundred day moving average price is $101.77.

Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.10). The firm had revenue of $531.40 million for the quarter, compared to analysts’ expectations of $551.08 million. Franklin Electric had a return on equity of 15.03% and a net margin of 9.22%. Franklin Electric’s revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.23 earnings per share. On average, research analysts predict that Franklin Electric Co., Inc. will post 3.81 EPS for the current fiscal year.

Franklin Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Thursday, November 7th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $1.00 annualized dividend and a dividend yield of 1.01%. Franklin Electric’s payout ratio is 25.32%.

Insider Buying and Selling

In other Franklin Electric news, insider Gregg C. Sengstack sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $100.22, for a total transaction of $150,330.00. Following the transaction, the insider now directly owns 9,032 shares in the company, valued at $905,187.04. This trade represents a 14.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.72% of the stock is currently owned by corporate insiders.

About Franklin Electric

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.