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 increase in short interest in February. As of February 28th, there was short interest totalling 559,400 shares, an increase of 16.2% from the February 13th total of 481,600 shares. Approximately 1.4% of the company’s shares are short sold. Based on an average trading volume of 197,300 shares, the short-interest ratio is presently 2.8 days.

Franklin Electric Stock Up 0.4 %

Shares of FELE stock traded up $0.43 during trading on Wednesday, hitting $99.57. 212,207 shares of the company were exchanged, compared to its average volume of 165,885. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.06 and a current ratio of 2.22. The firm has a market capitalization of $4.55 billion, a price-to-earnings ratio of 25.86, a P/E/G ratio of 2.11 and a beta of 0.98. The business’s 50-day simple moving average is $100.17 and its 200 day simple moving average is $101.84. Franklin Electric has a twelve month low of $91.67 and a twelve month high of $111.94.

Franklin Electric (NASDAQ:FELE) last posted its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.69 by $0.03. The business had revenue of $485.75 million during the quarter, compared to analysts’ expectations of $465.87 million. Franklin Electric had a net margin of 8.92% and a return on equity of 14.46%. As a group, analysts forecast that Franklin Electric will post 4.19 EPS for the current fiscal year.

Franklin Electric Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were issued a dividend of $0.265 per share. This is a boost from Franklin Electric’s previous quarterly dividend of $0.25. This represents a $1.06 annualized dividend and a dividend yield of 1.06%. The ex-dividend date was Thursday, February 6th. Franklin Electric’s dividend payout ratio (DPR) is currently 27.53%.

Insider Transactions at Franklin Electric

In related news, insider Delancey W. Davis sold 961 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $103.14, for a total transaction 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.72% of the stock is currently owned by insiders.

Institutional Trading of Franklin Electric

Institutional investors have recently added to or reduced their stakes in the business. Spire Wealth Management acquired a new stake in Franklin Electric in the fourth quarter valued at approximately $29,000. Trust Co. of Vermont acquired a new stake in Franklin Electric in the fourth quarter valued at approximately $40,000. Blue Trust Inc. lifted its stake in Franklin Electric by 66.2% in the fourth quarter. Blue Trust Inc. now owns 497 shares of the industrial products company’s stock valued at $52,000 after acquiring an additional 198 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Franklin Electric in the fourth quarter valued at approximately $52,000. Finally, Smartleaf Asset Management LLC lifted its stake in Franklin Electric by 189.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 642 shares of the industrial products company’s stock valued at $62,000 after acquiring an additional 420 shares during the last quarter. 79.98% of the stock is currently owned by institutional investors and hedge funds.

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.