Cullen Frost Bankers Inc. Has $29,000 Stock Holdings in Franklin Electric Co., Inc. (NASDAQ:FELE)

Cullen Frost Bankers Inc. lowered its position in shares of Franklin Electric Co., Inc. (NASDAQ:FELE) by 48.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 296 shares of the industrial products company’s stock after selling 280 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Franklin Electric were worth $29,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Covestor Ltd increased its position in shares of Franklin Electric by 15.6% in the third quarter. Covestor Ltd now owns 765 shares of the industrial products company’s stock valued at $80,000 after acquiring an additional 103 shares during the last quarter. BHK Investment Advisors LLC grew its stake in Franklin Electric by 2.5% in the fourth quarter. BHK Investment Advisors LLC now owns 5,139 shares of the industrial products company’s stock valued at $501,000 after purchasing an additional 125 shares in the last quarter. Sanctuary Advisors LLC raised its stake in shares of Franklin Electric by 3.4% during the 4th quarter. Sanctuary Advisors LLC now owns 4,372 shares of the industrial products company’s stock worth $434,000 after purchasing an additional 145 shares in the last quarter. MML Investors Services LLC raised its stake in shares of Franklin Electric by 2.6% during the 3rd quarter. MML Investors Services LLC now owns 6,048 shares of the industrial products company’s stock worth $634,000 after purchasing an additional 156 shares in the last quarter. Finally, Inspire Investing LLC boosted its holdings in shares of Franklin Electric by 4.1% in the 4th quarter. Inspire Investing LLC now owns 4,192 shares of the industrial products company’s stock valued at $409,000 after buying an additional 164 shares during the last quarter. 79.98% of the stock is owned by institutional investors.

Insider Activity at Franklin Electric

In related news, insider Delancey W. Davis sold 961 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $103.14, for a total value of $99,117.54. Following the completion of the sale, the insider now directly owns 7,701 shares in the company, valued at approximately $794,281.14. This trade represents a 11.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.72% of the stock is currently owned by company insiders.

Franklin Electric Price Performance

Shares of FELE opened at $100.50 on Tuesday. The company has a current ratio of 2.22, a quick ratio of 1.06 and a debt-to-equity ratio of 0.01. The company’s fifty day simple moving average is $99.77 and its 200 day simple moving average is $101.97. 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 cap of $4.59 billion, a price-to-earnings ratio of 26.10, a PEG ratio of 2.11 and a beta of 0.98.

Franklin Electric (NASDAQ:FELE) last released its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.03. Franklin Electric had a net margin of 8.92% and a return on equity of 14.46%. The company had revenue of $485.75 million for the quarter, compared to analyst estimates of $465.87 million. On average, research analysts forecast that Franklin Electric Co., Inc. will post 4.19 earnings per share for the current fiscal year.

Franklin Electric Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were paid a $0.265 dividend. This is an increase from Franklin Electric’s previous quarterly dividend of $0.25. This represents a $1.06 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend was Thursday, February 6th. Franklin Electric’s dividend payout ratio (DPR) is 27.53%.

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.