Franklin Electric Co., Inc. (NASDAQ:FELE) Short Interest Update

Franklin Electric Co., Inc. (NASDAQ:FELE) saw a large growth in short interest during the month of July. As of July 31st, there was short interest totalling 637,600 shares, a growth of 19.4% from the July 15th total of 534,100 shares. Approximately 1.6% of the company’s shares are short sold. Based on an average daily volume of 174,800 shares, the short-interest ratio is presently 3.6 days.

Franklin Electric Price Performance

Shares of FELE opened at $99.56 on Friday. The company has a 50 day moving average price of $98.73 and a 200-day moving average price of $99.98. Franklin Electric has a fifty-two week low of $82.61 and a fifty-two week high of $108.39. The stock has a market capitalization of $4.59 billion, a PE ratio of 24.77, a PEG ratio of 2.02 and a beta of 0.96. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.14 and a current ratio of 2.65.

Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings results on Tuesday, July 23rd. The industrial products company reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.06). The business had revenue of $543.30 million during the quarter, compared to analysts’ expectations of $570.80 million. Franklin Electric had a return on equity of 15.57% and a net margin of 9.35%. Franklin Electric’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.27 EPS. Equities analysts predict that Franklin Electric will post 4.22 earnings per share for the current fiscal year.

Franklin Electric Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, August 1st were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $1.00 annualized dividend and a dividend yield of 1.00%. Franklin Electric’s dividend payout ratio (DPR) is presently 24.88%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. StockNews.com cut shares of Franklin Electric from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 9th. DA Davidson boosted their price objective on shares of Franklin Electric from $87.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st.

Insider Activity at Franklin Electric

In related news, insider Jonathan M. Grandon sold 1,391 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $98.00, for a total transaction of $136,318.00. Following the transaction, the insider now directly owns 18,103 shares in the company, valued at approximately $1,774,094. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Franklin Electric news, insider Gregg C. Sengstack sold 5,000 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $103.87, for a total value of $519,350.00. Following the completion of the sale, the insider now directly owns 108,489 shares of the company’s stock, valued at approximately $11,268,752.43. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Jonathan M. Grandon sold 1,391 shares of the business’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $98.00, for a total transaction of $136,318.00. Following the completion of the sale, the insider now directly owns 18,103 shares of the company’s stock, valued at $1,774,094. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,877 shares of company stock worth $2,704,489. Insiders own 2.72% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of FELE. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Franklin Electric by 3.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,275 shares of the industrial products company’s stock worth $2,346,000 after acquiring an additional 840 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in Franklin Electric during the 4th quarter valued at approximately $1,914,000. Strs Ohio increased its stake in Franklin Electric by 15.0% during the 4th quarter. Strs Ohio now owns 14,600 shares of the industrial products company’s stock valued at $1,411,000 after purchasing an additional 1,900 shares in the last quarter. Mackenzie Financial Corp increased its stake in Franklin Electric by 15.7% during the 4th quarter. Mackenzie Financial Corp now owns 3,318 shares of the industrial products company’s stock valued at $321,000 after purchasing an additional 449 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Franklin Electric by 8.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,057 shares of the industrial products company’s stock valued at $875,000 after purchasing an additional 698 shares in the last quarter. Institutional investors own 79.98% of the company’s stock.

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.