Franklin Electric Co., Inc. (NASDAQ:FELE) Short Interest Up 11.0% in March

Franklin Electric Co., Inc. (NASDAQ:FELEGet Free Report) saw a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 804,500 shares, an increase of 11.0% from the February 29th total of 725,100 shares. Approximately 2.0% of the shares of the company are sold short. Based on an average trading volume of 172,000 shares, the days-to-cover ratio is presently 4.7 days.

Franklin Electric Stock Down 1.8 %

FELE stock opened at $103.55 on Wednesday. Franklin Electric has a twelve month low of $82.61 and a twelve month high of $107.89. The company has a quick ratio of 1.20, a current ratio of 2.97 and a debt-to-equity ratio of 0.07. The stock has a market cap of $4.76 billion, a P/E ratio of 25.19, a PEG ratio of 2.06 and a beta of 0.96. The business’s 50-day moving average price is $100.58 and its 200-day moving average price is $94.18.

Franklin Electric (NASDAQ:FELEGet Free Report) last posted its quarterly earnings data on Tuesday, February 13th. The industrial products company reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.02). The company had revenue of $472.97 million for the quarter, compared to analysts’ expectations of $490.47 million. Franklin Electric had a net margin of 9.36% and a return on equity of 16.67%. The firm’s quarterly revenue was down 3.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.84 earnings per share. On average, equities research analysts forecast that Franklin Electric will post 4.32 EPS for the current year.

Franklin Electric Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Thursday, February 1st were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend was Wednesday, January 31st. This is an increase from Franklin Electric’s previous quarterly dividend of $0.23. Franklin Electric’s dividend payout ratio (DPR) is 24.33%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on FELE. StockNews.com lowered Franklin Electric from a “strong-buy” rating to a “buy” rating in a research note on Sunday, January 14th. Northcoast Research raised Franklin Electric from a “neutral” rating to a “buy” rating and set a $110.00 price objective on the stock in a research note on Friday, February 23rd. Finally, Robert W. Baird lifted their price objective on Franklin Electric from $91.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Franklin Electric presently has an average rating of “Moderate Buy” and a consensus target price of $100.00.

Get Our Latest Analysis on FELE

Insider Buying and Selling at Franklin Electric

In other Franklin Electric news, CEO Gregg C. Sengstack sold 10,366 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $99.96, for a total transaction of $1,036,185.36. Following the completion of the sale, the chief executive officer now directly owns 154,993 shares in the company, valued at approximately $15,493,100.28. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.72% of the stock is owned by corporate insiders.

Institutional Trading of Franklin Electric

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pacer Advisors Inc. bought a new stake in Franklin Electric during the 4th quarter valued at approximately $26,000. Principal Securities Inc. bought a new stake in Franklin Electric during the 4th quarter valued at approximately $33,000. Point72 Asset Management L.P. bought a new stake in Franklin Electric in the 2nd quarter worth approximately $36,000. VisionPoint Advisory Group LLC bought a new stake in Franklin Electric in the 3rd quarter worth approximately $37,000. Finally, Brown Brothers Harriman & Co. bought a new stake in Franklin Electric in the 1st quarter worth approximately $38,000. Institutional investors own 79.98% of the company’s stock.

About Franklin Electric

(Get Free Report)

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.

Recommended Stories

Receive News & Ratings for Franklin Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franklin Electric and related companies with MarketBeat.com's FREE daily email newsletter.