By otakuyassine3@gmail.com 
Franklin Electric Co., Inc. (NASDAQ:FELE – Get Free Report) was the target of a significant drop in short interest in the month of November. As of November 30th, there was short interest totalling 574,600 shares, a drop of 12.7% from the November 15th total of 658,300 shares. Based on an average trading volume of 178,000 shares, the days-to-cover ratio is presently 3.2 days. Approximately 1.5% of the shares of the company are short sold.
Insider Buying and Selling
In related news, insider Gregg C. Sengstack sold 1,500 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $100.22, for a total transaction of $150,330.00. Following the completion of the transaction, the insider now directly owns 9,032 shares in the company, valued at $905,187.04. The trade was a 14.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.72% of the stock is currently owned by corporate insiders.
Institutional Trading of Franklin Electric
Several institutional investors have recently added to or reduced their stakes in the business. CWM LLC boosted its stake in Franklin Electric by 16.7% during the 3rd quarter. CWM LLC now owns 684 shares of the industrial products company’s stock valued at $72,000 after purchasing an additional 98 shares during the last quarter. Covestor Ltd lifted its holdings in shares of Franklin Electric by 15.6% during the 3rd quarter. Covestor Ltd now owns 765 shares of the industrial products company’s stock valued at $80,000 after buying an additional 103 shares during the period. Blue Trust Inc. lifted its holdings in shares of Franklin Electric by 55.7% during the 3rd quarter. Blue Trust Inc. now owns 299 shares of the industrial products company’s stock valued at $29,000 after buying an additional 107 shares during the period. Marshall Wace LLP lifted its holdings in shares of Franklin Electric by 1.0% during the 2nd quarter. Marshall Wace LLP now owns 11,009 shares of the industrial products company’s stock valued at $1,060,000 after buying an additional 109 shares during the period. Finally, MML Investors Services LLC lifted its holdings in shares of Franklin Electric by 2.6% during the 3rd quarter. MML Investors Services LLC now owns 6,048 shares of the industrial products company’s stock valued at $634,000 after buying an additional 156 shares during the period. 79.98% of the stock is currently owned by hedge funds and other institutional investors.
Franklin Electric Stock Down 1.0 %
Shares of NASDAQ:FELE traded down $1.10 during trading on Tuesday, hitting $103.99. The stock had a trading volume of 144,279 shares, compared to its average volume of 175,451. Franklin Electric has a 12 month low of $91.45 and a 12 month high of $111.94. The company has a market capitalization of $4.75 billion, a PE ratio of 26.27, a PEG ratio of 2.35 and a beta of 0.98. The firm’s fifty day moving average is $105.23 and its 200 day moving average is $101.59. The company has a quick ratio of 1.06, a current ratio of 2.40 and a debt-to-equity ratio of 0.01.
Franklin Electric (NASDAQ:FELE – Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.10). The company had revenue of $531.40 million during the quarter, compared to analysts’ expectations of $551.08 million. Franklin Electric had a return on equity of 15.03% and a net margin of 9.22%. The business’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.23 EPS. Analysts anticipate that Franklin Electric will post 3.81 EPS for the current fiscal year.
Franklin Electric Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 7th were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, November 7th. This represents a $1.00 annualized dividend and a yield of 0.96%. Franklin Electric’s dividend payout ratio is 25.32%.
Analyst Upgrades and Downgrades
Separately, Robert W. Baird lowered their price target on Franklin Electric from $107.00 to $105.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th.
Get Our Latest Stock Report on FELE
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.
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