Franklin Electric Co., Inc. (FELE) Declares $0.11 Quarterly Dividend
Franklin Electric Co., Inc. (NASDAQ:FELE) announced a quarterly dividend on Tuesday, October 24th, Wall Street Journal reports. Investors of record on Thursday, November 2nd will be given a dividend of 0.1075 per share by the industrial products company on Thursday, November 16th. This represents a $0.43 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date is Wednesday, November 1st.
Franklin Electric Co. has raised its dividend payment by an average of 9.2% annually over the last three years and has raised its dividend every year for the last 7 years. Franklin Electric Co. has a payout ratio of 22.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Franklin Electric Co. to earn $2.13 per share next year, which means the company should continue to be able to cover its $0.43 annual dividend with an expected future payout ratio of 20.2%.
Franklin Electric Co. (FELE) traded down 1.58% during midday trading on Tuesday, reaching $43.70. The company had a trading volume of 299,364 shares. Franklin Electric Co. has a 12-month low of $34.75 and a 12-month high of $46.95. The stock has a 50-day moving average price of $43.35 and a 200 day moving average price of $40.93. The company has a market capitalization of $2.03 billion, a PE ratio of 23.75 and a beta of 1.62.
Franklin Electric Co. (NASDAQ:FELE) last posted its quarterly earnings data on Monday, October 23rd. The industrial products company reported $0.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.02. Franklin Electric Co. had a return on equity of 13.10% and a net margin of 8.62%. The firm had revenue of $311.11 million during the quarter, compared to analyst estimates of $317.54 million. During the same period last year, the company posted $0.48 EPS. The business’s quarterly revenue was up 29.8% on a year-over-year basis. Equities analysts forecast that Franklin Electric Co. will post $1.92 EPS for the current year.
FELE has been the subject of several research analyst reports. BidaskClub raised Franklin Electric Co. from a “hold” rating to a “buy” rating in a research report on Friday, June 30th. Boenning Scattergood reissued an “outperform” rating and issued a $52.00 price objective (up from $44.00) on shares of Franklin Electric Co. in a research report on Wednesday, July 26th. Zacks Investment Research raised Franklin Electric Co. from a “sell” rating to a “hold” rating and set a $45.00 price objective for the company in a research report on Wednesday, July 26th. Finally, Robert W. Baird reissued a “hold” rating and issued a $45.00 price objective on shares of Franklin Electric Co. in a research report on Wednesday, October 4th.
About Franklin Electric Co.
Franklin Electric Co, Inc designs, manufactures and distributes water and fuel pumping systems, consisting of submersible motors, pumps, electronic controls and related parts and equipment. Its segments include Water Systems segment, the Fueling Systems segment and Other. Its Water Systems segment is engaged in the production and marketing of water pumping systems and offers motors, pumps, drives, electronic controls and monitoring devices.
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