Longboard Asset Management LP Acquires Shares of 2,056 Franklin Electric Co., Inc. (NASDAQ:FELE)

Longboard Asset Management LP acquired a new stake in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,056 shares of the industrial products company’s stock, valued at approximately $200,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. lifted its stake 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 in the last quarter. Spire Wealth Management purchased a new position in shares of Franklin Electric in the fourth quarter worth about $29,000. Trust Co. of Vermont purchased a new position in shares of Franklin Electric in the fourth quarter worth about $40,000. CWM LLC lifted its stake in shares of Franklin Electric by 16.7% in the third quarter. CWM LLC now owns 684 shares of the industrial products company’s stock worth $72,000 after buying an additional 98 shares in the last quarter. Finally, USA Financial Formulas purchased a new position in shares of Franklin Electric in the third quarter worth about $74,000. 79.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird decreased their price target on shares of Franklin Electric from $107.00 to $105.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th.

Franklin Electric Price Performance

Franklin Electric stock opened at $99.78 on Wednesday. Franklin Electric Co., Inc. has a 12-month low of $91.67 and a 12-month high of $111.94. The stock has a market cap of $4.56 billion, a P/E ratio of 25.26, a PEG ratio of 1.96 and a beta of 1.00. The company has a 50-day moving average price of $100.64 and a 200 day moving average price of $101.75. The company has a current ratio of 2.40, a quick ratio of 1.06 and a debt-to-equity ratio of 0.01.

Franklin Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Thursday, February 6th will be given a dividend of $0.265 per share. This is a boost from Franklin Electric’s previous quarterly dividend of $0.25. This represents a $1.06 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend is Thursday, February 6th. Franklin Electric’s dividend payout ratio (DPR) is presently 25.32%.

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.