GSA Capital Partners LLP Reduces Stock Position in Powell Industries, Inc. (NASDAQ:POWL)

GSA Capital Partners LLP reduced its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 55.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,180 shares of the industrial products company's stock after selling 7,807 shares during the quarter. GSA Capital Partners LLP owned about 0.05% of Powell Industries worth $1,372,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Hollencrest Capital Management bought a new position in shares of Powell Industries during the 3rd quarter valued at $30,000. Farther Finance Advisors LLC raised its holdings in Powell Industries by 110.5% in the third quarter. Farther Finance Advisors LLC now owns 200 shares of the industrial products company's stock worth $44,000 after buying an additional 105 shares during the last quarter. Covestor Ltd grew its stake in shares of Powell Industries by 21.8% in the third quarter. Covestor Ltd now owns 229 shares of the industrial products company's stock worth $51,000 after acquiring an additional 41 shares during the period. GAMMA Investing LLC grew its stake in shares of Powell Industries by 38.2% in the second quarter. GAMMA Investing LLC now owns 286 shares of the industrial products company's stock worth $41,000 after acquiring an additional 79 shares during the period. Finally, UMB Bank n.a. grew its position in Powell Industries by 155.3% during the third quarter. UMB Bank n.a. now owns 314 shares of the industrial products company's stock valued at $70,000 after buying an additional 191 shares during the period. 89.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Powell Industries

In other news, Director James W. Mcgill sold 6,600 shares of the business's stock in a transaction dated Tuesday, August 27th. The stock was 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 owns 9,660 shares of the company's stock, valued at $1,795,214.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director James W. Mcgill sold 6,600 shares of Powell Industries stock in a transaction dated Tuesday, August 27th. The stock was 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 owns 9,660 shares in the company, valued at $1,795,214.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Thomas W. Powell sold 10,000 shares of Powell Industries stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $246.14, for a total value of $2,461,400.00. Following the completion of the transaction, the insider now owns 1,658,328 shares of the company's stock, valued at approximately $408,180,853.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,600 shares of company stock worth $15,906,386 over the last three months. Corporate insiders own 2.20% of the company's stock.

Powell Industries Stock Performance

POWL stock traded down $20.74 during mid-day trading on Thursday, reaching $296.49. 257,627 shares of the stock traded hands, compared to its average volume of 369,940. Powell Industries, Inc. has a one year low of $75.05 and a one year high of $364.98. The stock has a market capitalization of $3.55 billion, a PE ratio of 29.68, a PEG ratio of 1.97 and a beta of 0.86. The business has a 50-day moving average price of $242.36 and a two-hundred day moving average price of $189.40.

Powell Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 20th will be issued a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 0.36%. The ex-dividend date of this dividend is Wednesday, November 20th. Powell Industries's payout ratio is 9.92%.

Wall Street Analysts Forecast Growth

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

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.