Daiwa Securities Group Inc. Buys 3,500 Shares of Powell Industries, Inc. (NASDAQ:POWL)

Daiwa Securities Group Inc. lifted its holdings in Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 329.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,563 shares of the industrial products company's stock after acquiring an additional 3,500 shares during the period. Daiwa Securities Group Inc.'s holdings in Powell Industries were worth $1,013,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in POWL. Hollencrest Capital Management acquired a new position in Powell Industries in the third quarter valued at approximately $30,000. Quest Partners LLC bought a new stake in shares of Powell Industries in the 3rd quarter valued at $35,000. GAMMA Investing LLC increased its stake in shares of Powell Industries by 38.2% in the 2nd quarter. GAMMA Investing LLC now owns 286 shares of the industrial products company's stock valued at $41,000 after acquiring an additional 79 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of Powell Industries by 110.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 200 shares of the industrial products company's stock valued at $44,000 after acquiring an additional 105 shares during the period. Finally, Picton Mahoney Asset Management bought a new position in Powell Industries during the second quarter worth $47,000. Institutional investors own 89.77% of the company's stock.

Insider Buying and Selling at Powell Industries

In other Powell Industries news, major shareholder Thomas W. Powell sold 10,000 shares of Powell Industries stock in a transaction dated 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 owns 1,658,328 shares in the company, valued at approximately $408,180,853.92. The trade was a 0.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders sold 60,000 shares of company stock worth $14,679,842. 2.20% of the stock is owned by corporate insiders.

Powell Industries Stock Up 1.9 %

NASDAQ:POWL traded up $5.03 on Friday, hitting $267.38. The stock had a trading volume of 163,957 shares, compared to its average volume of 383,332. Powell Industries, Inc. has a 52 week low of $75.05 and a 52 week high of $364.98. The business's fifty day moving average is $268.98 and its 200 day moving average is $199.27. The company has a market cap of $3.21 billion, a PE ratio of 21.76, a P/E/G ratio of 1.33 and a beta of 0.86.

Powell Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 20th will be issued a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date is Wednesday, November 20th. Powell Industries's dividend payout ratio is currently 8.62%.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Powell Industries from a "buy" rating to a "hold" rating in a report on Saturday, November 23rd.

Powell Industries 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.