Cumberland Partners Ltd Invests $555,000 in Powell Industries, Inc. (NASDAQ:POWL)

Cumberland Partners Ltd bought a new position in Powell Industries, Inc. (NASDAQ:POWL - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,500 shares of the industrial products company's stock, valued at approximately $555,000.

Other institutional investors have also recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in Powell Industries in the 2nd quarter worth approximately $1,403,000. Quadrature Capital Ltd bought a new stake in shares of Powell Industries during the 1st quarter valued at $1,927,000. Raymond James & Associates increased its position in shares of Powell Industries by 18.9% in the 3rd quarter. Raymond James & Associates now owns 21,276 shares of the industrial products company's stock valued at $4,723,000 after buying an additional 3,385 shares in the last quarter. Stephens Investment Management Group LLC bought a new stake in shares of Powell Industries in the 3rd quarter valued at $13,606,000. Finally, Virtu Financial LLC increased its position in shares of Powell Industries by 198.8% in the 1st quarter. Virtu Financial LLC now owns 7,243 shares of the industrial products company's stock valued at $1,031,000 after buying an additional 4,819 shares in the last quarter. Institutional investors own 89.77% of the company's stock.

Insider Buying and Selling

In related news, Director James W. Mcgill sold 6,600 shares of the company's stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $185.84, for a total value of $1,226,544.00. Following the completion of the transaction, the director now directly owns 9,660 shares of the company's stock, valued at approximately $1,795,214.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director James W. Mcgill sold 6,600 shares of the company's stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $185.84, for a total value of $1,226,544.00. Following the completion of the transaction, the director now directly owns 9,660 shares of the company's stock, valued at approximately $1,795,214.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Thomas W. Powell sold 10,000 shares of the company's stock in a transaction on Monday, October 7th. The stock was sold at an average price of $246.14, for a total transaction of $2,461,400.00. Following the completion of the transaction, the insider now directly owns 1,658,328 shares of the company's stock, valued at approximately $408,180,853.92. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,600 shares of company stock valued at $15,906,386. Company insiders own 2.20% of the company's stock.

Powell Industries Stock Down 7.7 %

Shares of POWL traded down $26.63 during trading hours on Wednesday, reaching $317.23. The stock had a trading volume of 685,598 shares, compared to its average volume of 369,527. The company has a market cap of $3.80 billion, a P/E ratio of 29.68, a P/E/G ratio of 1.97 and a beta of 0.86. Powell Industries, Inc. has a 52 week low of $75.05 and a 52 week high of $364.98. The firm has a 50-day moving average of $242.36 and a 200 day moving average of $189.40.

Powell Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 20th will be paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date is Wednesday, November 20th. Powell Industries's payout ratio is presently 9.92%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Powell Industries from a "buy" rating to a "hold" rating in a research report on Thursday, November 7th.

Powell Industries Company Profile

Powell Industries, Inc, together with its subsidiaries, designs, develops, manufactures, sells, and services custom-engineered equipment and systems. The company's principal products include integrated power control room substations, custom-engineered modules, electrical houses, medium-voltage circuit breakers, monitoring and control communications systems, motor control centers, switches, and bus duct systems, as well as traditional and arc-resistant distribution switchgears and control gears.