Revenue Update on Franklin Electric Co.(NASDAQ:FELE)

Franklin Electric Co.(NASDAQ:FELE) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jul 26, 2016. Company reported revenue of $252.08M. Analysts estimated a revenue of $255.60M. Earnings per share were $0.51. Analysts had estimated an EPS of $0.49.

In a different note, On Jul 11, 2016, Boenning & Scattergood said it Upgrades its rating on Franklin Electric Co.. The shares have been rated ‘Outperform’ by the firm. On Jun 10, 2016, Seaport Global said it Downgrades its rating on Franklin Electric Co.. The shares have been rated ‘Neutral’ by the firm.

Franklin Electric Co. (FELE) shares turned negative on Fridays trading session with the shares closing down -0.27 points or -0.69% at a volume of 1,94,926. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $39.49. The peak price level was also seen at $39.49 while the days lowest was $38.41. Finally the shares closed at $38.72. The 52-week high of the shares is $39.82 while the 52-week low is $23.75. According to the latest information available, the market cap of the company is $1,788 M.

Franklin Electric Co. has also declared a cash dividend of $0.1000 on Jul 25, 2016. The shares will quote ex-dividend on Aug 2, 2016 and the record date has been fixed on Aug 4, 2016. The dividend payable date has been fixed on Aug 18, 2016.

Several Insider Transactions has been reported to the SEC. On Jun 8, 2016, Donald P Kenney (VP & President Energy Systems) sold 1,100 shares at $34.24 per share price.Also, On Jun 6, 2016, John J Haines (Vice President and CFO) sold 4,546 shares at $34.00 per share price.On May 10, 2016, Delancey W Davis (Vice President) sold 2,971 shares at $32.40 per share price, according to the Form-4 filing with the securities and exchange commission.

Franklin Electric Co Inc. together with its subsidiaries is engaged in designing manufacturing and distributing water and fuel pumping systems composed of submersible motors pumps electronic controls and related parts and equipment. The Company’s business consists of two segments: the Water Systems segment and the Fueling Systems segment. The Company’s Water Systems produces and markets water pumping systems and is also engaged in submersible motors pumps drives electronic controls and monitoring devices. The Company’s Fueling Systems is engaged in the production and marketing of fuel pumping systems fuel containment systems and monitoring and control systems. The Company’s Water Systems and Fueling Systems products and related equipment are sold to specialty distributors and some original equipment manufacturers as well as industrial and petroleum equipment distributors and oil and utility companies.

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