Franklin Electric Co. (NASDAQ:FELE) was the target of a large growth in short interest during the month of January. As of January 31st, there was short interest totalling 583,100 shares, a growth of 8.0% from the January 15th total of 540,100 shares. Approximately 1.5% of the company’s stock are sold short. Based on an average daily trading volume, of 134,900 shares, the days-to-cover ratio is presently 4.3 days.
In other news, VP Steven William Aikman sold 1,079 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $57.17, for a total transaction of $61,686.43. Following the completion of the sale, the vice president now owns 15,877 shares in the company, valued at approximately $907,688.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jay J. Walsh sold 1,936 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $56.69, for a total transaction of $109,751.84. Following the sale, the insider now owns 16,149 shares of the company’s stock, valued at approximately $915,486.81. The disclosure for this sale can be found here. 2.88% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the company. Penserra Capital Management LLC acquired a new position in shares of Franklin Electric in the 4th quarter valued at $28,000. Citizens Financial Group Inc RI acquired a new position in shares of Franklin Electric in the 4th quarter valued at $32,000. Evoke Wealth LLC acquired a new position in shares of Franklin Electric in the 3rd quarter valued at $33,000. Valeo Financial Advisors LLC acquired a new position in shares of Franklin Electric in the 3rd quarter valued at $48,000. Finally, Advisory Alpha LLC increased its holdings in shares of Franklin Electric by 50.0% in the 4th quarter. Advisory Alpha LLC now owns 900 shares of the industrial products company’s stock valued at $54,000 after acquiring an additional 300 shares during the period. Institutional investors and hedge funds own 76.69% of the company’s stock.
Shares of NASDAQ:FELE traded up $0.29 during trading on Friday, hitting $60.89. 201,097 shares of the company were exchanged, compared to its average volume of 227,187. The stock has a market capitalization of $2.82 billion, a P/E ratio of 28.72 and a beta of 1.27. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.40 and a quick ratio of 1.10. Franklin Electric has a 12-month low of $42.87 and a 12-month high of $61.49. The firm’s 50 day moving average price is $58.97 and its 200-day moving average price is $52.27.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th will be given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 1.02%. The ex-dividend date is Wednesday, February 5th. This is an increase from Franklin Electric’s previous quarterly dividend of $0.15. Franklin Electric’s payout ratio is currently 27.43%.
Franklin Electric Company Profile
Franklin Electric Co, Inc, together with its subsidiaries, designs, manufactures, and distributes water and fuel pumping systems worldwide. It operates in three segments: Water Systems, Fueling Systems, and Distribution. The Water Systems segment offers submersible motors, pumps, drives, electronic controls, monitoring devices, and related parts and equipment.
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