MetLife Investment Advisors LLC Invests $969,000 in Franklin Electric (FELE)

MetLife Investment Advisors LLC bought a new stake in shares of Franklin Electric (NASDAQ:FELE) during the fourth quarter, HoldingsChannel reports. The fund bought 21,104 shares of the industrial products company’s stock, valued at approximately $969,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in FELE. Channing Capital Management LLC grew its stake in shares of Franklin Electric by 81.9% during the fourth quarter. Channing Capital Management LLC now owns 1,253,084 shares of the industrial products company’s stock valued at $57,517,000 after buying an additional 564,379 shares during the last quarter. Impax Asset Management LTD grew its stake in shares of Franklin Electric by 15.6% during the fourth quarter. Impax Asset Management LTD now owns 2,099,953 shares of the industrial products company’s stock valued at $96,388,000 after buying an additional 283,508 shares during the last quarter. Deutsche Bank AG grew its stake in shares of Franklin Electric by 82.7% during the fourth quarter. Deutsche Bank AG now owns 284,875 shares of the industrial products company’s stock valued at $13,071,000 after buying an additional 128,965 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Franklin Electric during the fourth quarter valued at approximately $3,727,000. Finally, BlackRock Inc. grew its stake in shares of Franklin Electric by 1.3% during the fourth quarter. BlackRock Inc. now owns 5,311,651 shares of the industrial products company’s stock valued at $243,805,000 after buying an additional 68,462 shares during the last quarter. 78.04% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ FELE opened at $41.45 on Thursday. The company has a quick ratio of 1.13, a current ratio of 2.40 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $1,886.78, a P/E ratio of 21.59 and a beta of 1.54. Franklin Electric has a 52-week low of $36.00 and a 52-week high of $47.20.



Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings results on Tuesday, February 20th. The industrial products company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.03). The firm had revenue of $288.20 million during the quarter, compared to analysts’ expectations of $312.73 million. Franklin Electric had a net margin of 6.95% and a return on equity of 12.97%. The firm’s revenue for the quarter was up 20.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.38 EPS. analysts anticipate that Franklin Electric will post 2.23 EPS for the current year.

A number of research firms have recently commented on FELE. BidaskClub raised Franklin Electric from a “strong sell” rating to a “sell” rating in a research note on Thursday, March 8th. Seaport Global Securities reiterated a “hold” rating and issued a $41.00 price target on shares of Franklin Electric in a report on Friday, February 23rd. Robert W. Baird reiterated a “hold” rating and issued a $47.00 price target on shares of Franklin Electric in a report on Friday, February 23rd. Gabelli reiterated a “hold” rating on shares of Franklin Electric in a report on Wednesday, February 21st. Finally, Zacks Investment Research upgraded Franklin Electric from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a report on Wednesday, February 21st. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $46.75.

In other Franklin Electric news, insider Delancey W. Davis sold 8,576 shares of the company’s stock in a transaction on Wednesday, March 14th. The stock was sold at an average price of $42.16, for a total transaction of $361,564.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO John J. Haines sold 2,500 shares of the company’s stock in a transaction on Friday, March 16th. The stock was sold at an average price of $42.50, for a total value of $106,250.00. The disclosure for this sale can be found here. Insiders sold 12,356 shares of company stock valued at $521,830 in the last quarter. 2.52% of the stock is owned by company insiders.

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About Franklin Electric

Franklin Electric Co, Inc, together with its subsidiaries, designs, manufactures, and distributes water and fuel pumping systems worldwide. It operates in three segments: Water Systems, Fueling Systems, and Distribution. The Water Systems segment offers submersible motors, pumps, drives, electronic controls, monitoring devices, and related parts and equipment.

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

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