Short Interest in Franklin Electric Co., Inc. (NASDAQ:FELE) Expands By 21.1%

Franklin Electric Co., Inc. (NASDAQ:FELE) saw a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 677,200 shares, a growth of 21.1% from the March 15th total of 559,300 shares. Based on an average daily trading volume, of 257,200 shares, the days-to-cover ratio is presently 2.6 days. Currently, 1.7% of the company’s shares are short sold.

Insider Activity

In other Franklin Electric news, insider Delancey W. Davis sold 961 shares of the business’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 sale, the insider now directly owns 7,701 shares of the company’s stock, valued at $794,281.14. The trade was a 11.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.72% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Franklin Electric

Large investors have recently modified their holdings of the company. Farther Finance Advisors LLC grew its holdings in Franklin Electric by 168.5% during the 1st quarter. Farther Finance Advisors LLC now owns 290 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 182 shares during the period. Spire Wealth Management bought a new stake in shares of Franklin Electric during the 4th quarter valued at about $29,000. Trust Co. of Vermont acquired a new stake in Franklin Electric during the fourth quarter worth 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 buying an additional 198 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Franklin Electric during the 4th quarter worth approximately $52,000. 79.98% of the stock is currently owned by institutional investors and hedge funds.

Franklin Electric Stock Performance

Shares of Franklin Electric stock opened at $84.56 on Tuesday. The stock has a market cap of $3.87 billion, a price-to-earnings ratio of 21.96, a P/E/G ratio of 2.11 and a beta of 1.02. The company has a quick ratio of 1.06, a current ratio of 2.22 and a debt-to-equity ratio of 0.01. Franklin Electric has a twelve month low of $82.69 and a twelve month high of $111.94. The company’s fifty day moving average is $96.38 and its 200 day moving average is $100.16.

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

Franklin Electric Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were paid a $0.265 dividend. This is a positive change from Franklin Electric’s previous quarterly dividend of $0.25. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date was Thursday, February 6th. Franklin Electric’s dividend payout ratio is currently 27.53%.

About Franklin Electric

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.