Short Interest in Franklin Electric Co., Inc. (NASDAQ:FELE) Expands By 16.2%

Franklin Electric Co., Inc. (NASDAQ:FELE) was the target of a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 559,400 shares, a growth of 16.2% from the February 13th total of 481,600 shares. Currently, 1.4% of the shares of the company are sold short. Based on an average daily trading volume, of 197,300 shares, the days-to-cover ratio is currently 2.8 days.

Insider Transactions at Franklin Electric

In other news, insider Delancey W. Davis sold 961 shares of the business’s stock in a transaction on 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. The trade was a 11.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.72% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Franklin Electric

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Spire Wealth Management bought a new stake in Franklin Electric in the 4th quarter valued at $29,000. Trust Co. of Vermont bought a new stake in Franklin Electric in the 4th quarter valued at $40,000. Blue Trust Inc. increased its holdings in Franklin Electric by 66.2% in the 4th quarter. Blue Trust Inc. now owns 497 shares of the industrial products company’s stock valued at $52,000 after buying an additional 198 shares during the period. Public Employees Retirement System of Ohio bought a new stake in Franklin Electric in the 4th quarter valued at $52,000. Finally, Smartleaf Asset Management LLC increased its holdings in Franklin Electric by 189.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 642 shares of the industrial products company’s stock valued at $62,000 after buying an additional 420 shares during the period. Institutional investors own 79.98% of the company’s stock.

Franklin Electric Stock Performance

Shares of Franklin Electric stock traded up $0.43 on Wednesday, reaching $99.57. The stock had a trading volume of 212,207 shares, compared to its average volume of 165,885. The business’s 50-day moving average price is $100.17 and its two-hundred day moving average price is $101.84. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.06 and a current ratio of 2.22. Franklin Electric has a fifty-two week low of $91.67 and a fifty-two week high of $111.94. The stock has a market cap of $4.55 billion, a P/E ratio of 25.86, a price-to-earnings-growth ratio of 2.11 and a beta of 0.98.

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

Franklin Electric Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were given a dividend of $0.265 per share. The ex-dividend date was Thursday, February 6th. This represents a $1.06 dividend on an annualized basis and a yield of 1.06%. This is a positive change from Franklin Electric’s previous quarterly dividend of $0.25. Franklin Electric’s payout ratio is 27.53%.

Franklin Electric Company Profile

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.