Franklin Electric Co., Inc. (NASDAQ:FELE) Shares Will Pay Quarterly Dividend of $0.28

Franklin Electric Co., Inc. (NASDAQ:FELE) announced a quarterly dividend on Monday, October 26th. Shareholders of record on Thursday, November 5th will be given a dividend of $0.28 per share by the industrial products company on Thursday, November 19th. This represents a $1.12 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Thursday, November 5th.

Franklin Electric has increased its dividend by an average of 0.1% annually over the last three years and has increased its dividend every year for the last 33 years. Franklin Electric has a payout ratio of 23.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Franklin Electric to earn $5.22 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 21.5%.

Franklin Electric Trading Up 0.3%

Franklin Electric stock opened at $98.61 on Tuesday. The company’s fifty day simple moving average is $98.94 and its 200-day simple moving average is $100.24. The company has a quick ratio of 1.10, a current ratio of 2.41 and a debt-to-equity ratio of 0.10. Franklin Electric has a 12 month low of $89.54 and a 12 month high of $115.82. The stock has a market cap of $4.36 billion, a P/E ratio of 21.62, a P/E/G ratio of 1.76 and a beta of 1.03.

Franklin Electric (NASDAQ:FELE) last posted its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.11. The business had revenue of $622.88 million for the quarter, compared to the consensus estimate of $605.92 million. Franklin Electric had a net margin of 7.06% and a return on equity of 15.18%. Franklin Electric’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.31 earnings per share. As a group, sell-side analysts forecast that Franklin Electric will post 4.67 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FELE. Caisse de depot et placement du Quebec acquired a new stake in shares of Franklin Electric in the second quarter worth $1,694,000. Gamco Investors INC. ET AL boosted its holdings in shares of Franklin Electric by 4.4% during the 1st quarter. Gamco Investors INC. ET AL now owns 256,624 shares of the industrial products company’s stock worth $23,653,000 after buying an additional 10,858 shares during the period. Engineers Gate Manager LP grew its stake in Franklin Electric by 687.1% in the 2nd quarter. Engineers Gate Manager LP now owns 32,666 shares of the industrial products company’s stock valued at $3,501,000 after buying an additional 28,516 shares during the last quarter. Principal Financial Group Inc. grew its stake in Franklin Electric by 4.8% in the 1st quarter. Principal Financial Group Inc. now owns 224,135 shares of the industrial products company’s stock valued at $20,659,000 after buying an additional 10,325 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in Franklin Electric by 116.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 147,141 shares of the industrial products company’s stock valued at $13,562,000 after buying an additional 79,222 shares during the last quarter. 79.98% of the stock is owned by institutional investors.

About Franklin Electric

Franklin Electric Co, Inc (NASDAQ: FELE) designs, manufactures and distributes systems and components used to move, manage and control water and other fluids. The company serves residential, agricultural, commercial, industrial and municipal customers through products such as submersible pumps, motors, pumping systems, drives, controls, monitoring equipment and water-treatment solutions.

Its Water Systems business provides equipment for groundwater and surface-water applications, including well pumps, pressure systems, wastewater and dewatering products, and related controls and accessories.