Shares of Powell Industries, Inc. (NASDAQ:POWL - Get Free Report) fell 4.6% on Tuesday . The stock traded as low as $267.00 and last traded at $267.05. 158,527 shares changed hands during mid-day trading, a decline of 57% from the average session volume of 366,658 shares. The stock had previously closed at $279.96.
Wall Street Analyst Weigh In
Separately, StockNews.com lowered Powell Industries from a "buy" rating to a "hold" rating in a research report on Friday, October 4th.
Read Our Latest Research Report on Powell Industries
Powell Industries Trading Down 4.6 %
The firm has a market capitalization of $3.20 billion, a P/E ratio of 24.99, a price-to-earnings-growth ratio of 1.56 and a beta of 0.88. The business has a 50-day moving average of $201.23 and a 200 day moving average of $171.08.
Powell Industries (NASDAQ:POWL - Get Free Report) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $3.79 EPS for the quarter, beating analysts' consensus estimates of $2.16 by $1.63. Powell Industries had a return on equity of 33.09% and a net margin of 13.77%. The business had revenue of $288.17 million during the quarter, compared to analyst estimates of $222.18 million. During the same period in the previous year, the company posted $1.52 EPS. The firm's revenue was up 49.8% compared to the same quarter last year. As a group, research analysts forecast that Powell Industries, Inc. will post 12.01 EPS for the current year.
Powell Industries Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, August 14th were given a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date was Wednesday, August 14th. Powell Industries's payout ratio is 9.92%.
Insider Activity at Powell Industries
In related news, insider Robert B. Callahan sold 1,000 shares of the business's stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $160.00, for a total value of $160,000.00. Following the completion of the sale, the insider now directly owns 11,066 shares of the company's stock, valued at $1,770,560. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, major shareholder Thomas W. Powell sold 2,451 shares of the business's stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $262.10, for a total value of $642,407.10. Following the transaction, the insider now owns 1,628,328 shares in the company, valued at $426,784,768.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert B. Callahan sold 1,000 shares of the business's stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $160.00, for a total value of $160,000.00. Following the completion of the transaction, the insider now owns 11,066 shares in the company, valued at $1,770,560. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 65,350 shares of company stock valued at $14,774,341 in the last three months. Corporate insiders own 2.20% of the company's stock.
Hedge Funds Weigh In On Powell Industries
Hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC boosted 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 worth $41,000 after buying an additional 79 shares during the last quarter. Picton Mahoney Asset Management purchased a new position in shares of Powell Industries in the 2nd quarter worth approximately $47,000. Quarry LP purchased a new position in shares of Powell Industries in the 2nd quarter worth approximately $48,000. Plato Investment Management Ltd purchased a new position in shares of Powell Industries in the 1st quarter worth approximately $50,000. Finally, UMB Bank n.a. boosted its stake in shares of Powell Industries by 155.3% in the 3rd quarter. UMB Bank n.a. now owns 314 shares of the industrial products company's stock worth $70,000 after buying an additional 191 shares during the last quarter. Hedge funds and other institutional investors own 89.77% of the company's stock.
About Powell Industries
(
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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.
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