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Franklin Electric Co., Inc. (FELE) [hlAlert]

Rating:
Hold FELE

Franklin Electric Co., Inc. (FELE) rated Hold by Gabelli & Co

Posted on: Friday,  Mar 21, 2014  9:25 AM ET by Gabelli & Co

Franklin Electric Co., Inc.
(NASDAQ: FELE) rated Hold by Gabelli & Co.

Franklin Electric Co., Inc. together with its subsidiaries (Franklin Electric) is engaged in designing, manufacturing and distributing groundwater and fuel pumping systems, composed primarily of submersible pumps and motors, electronic controls and related parts and equipment. The Company operates in two business segments: the Water Systems segment and the Fueling Systems segment. The principal raw materials used in the manufacture of the Company?s products are coil and bar steel, stainless steel, copper wire, and aluminum ingot. The Company?s products are sold in North America, Europe, the Middle East, South Africa, Australia, Mexico, Brazil, Japan, China, and other global markets. During the fiscal year ended January 3, 2009, (fiscal 2008), the Company completed the acquisition of Industrias Schneider SA and Western Pumps LLC.

Gabelli & Co is a well-known diversified asset manager and financial services company. The company's investment services are primarily offered through its subsidiary GAMCO Asset Management Inc, which manages separate accounts for high net worth individuals, institutions, and qualified pension plans, and through the Company's role as advisor to a family of Mutual Funds. The company's asset management businesses are supported by Gabelli & Company, Inc., an institutional broker/dealer. Gabelli & Company, Inc. distributes the mutual funds managed by Gabelli Funds and publishes investment research which is one of the key elements of GAMCO Investors, Inc.'s success. In addition through its subsidiary Gabelli Securities, Inc., the Company serves as general partner or investment manager in a number of limited partnerships with varying investment objectives.
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
3/21/2014 9:25 AM Hold
None
43.71
as of 1/1/0001
1 Week   
1 Month   
3 Months   
1 YTD   

(*) Stock Price at the time of the recommendation.
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