Longboard Asset Management LP Invests $200,000 in Franklin Electric Co., Inc. (NASDAQ:FELE)

Longboard Asset Management LP acquired a new position in Franklin Electric Co., Inc. (NASDAQ:FELE) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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 recently made changes to their positions in the company. Van ECK Associates Corp increased its stake in shares of Franklin Electric by 40.0% in the third quarter. Van ECK Associates Corp now owns 24,818 shares of the industrial products company’s stock worth $2,532,000 after acquiring an additional 7,092 shares during the period. Intech Investment Management LLC increased its stake in shares of Franklin Electric by 420.9% in the third quarter. Intech Investment Management LLC now owns 11,001 shares of the industrial products company’s stock worth $1,153,000 after acquiring an additional 8,889 shares during the period. Blue Trust Inc. boosted its holdings in Franklin Electric by 55.7% during 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. PDT Partners LLC boosted its holdings in Franklin Electric by 241.8% during the third quarter. PDT Partners LLC now owns 12,029 shares of the industrial products company’s stock worth $1,261,000 after buying an additional 8,510 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Franklin Electric by 19.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 2,800 shares of the industrial products company’s stock worth $293,000 after buying an additional 451 shares in the last quarter. Institutional investors and hedge funds own 79.98% of the company’s stock.

Franklin Electric Stock Performance

Shares of NASDAQ FELE opened at $99.78 on Wednesday. The company’s fifty day moving average price is $100.64 and its 200 day moving average price is $101.75. Franklin Electric Co., Inc. has a 1 year low of $91.67 and a 1 year high of $111.94. The company has a market capitalization of $4.56 billion, a PE ratio of 25.26, a price-to-earnings-growth ratio of 1.96 and a beta of 1.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.06 and a current ratio of 2.40.

Franklin Electric Increases Dividend

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

Analyst Upgrades and Downgrades

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

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.