Powell Industries, Inc. (NASDAQ:POWL) to Issue $0.27 Quarterly Dividend

Powell Industries, Inc. (NASDAQ:POWL - Get Free Report) declared a quarterly dividend on Tuesday, November 5th,Zacks Dividends reports. Investors of record on Wednesday, November 20th will be given a dividend of 0.265 per share by the industrial products company on Wednesday, December 18th. This represents a $1.06 annualized dividend and a yield of 0.31%. The ex-dividend date of this dividend is Wednesday, November 20th.

Powell Industries has increased its dividend payment by an average of 0.3% per year over the last three years. Powell Industries has a payout ratio of 8.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Powell Industries to earn $12.44 per share next year, which means the company should continue to be able to cover its $1.06 annual dividend with an expected future payout ratio of 8.5%.

Powell Industries Stock Performance

Shares of NASDAQ POWL traded down $10.21 during midday trading on Thursday, hitting $337.56. 398,825 shares of the stock traded hands, compared to its average volume of 369,630. The firm has a 50-day moving average of $224.48 and a two-hundred day moving average of $182.60. The firm has a market capitalization of $4.05 billion, a P/E ratio of 32.53, a PEG ratio of 1.54 and a beta of 0.86. Powell Industries has a one year low of $75.05 and a one year high of $350.48.

Analysts Set New Price Targets

Separately, StockNews.com raised Powell Industries from a "hold" rating to a "buy" rating in a report on Wednesday, October 23rd.

Insider Buying and Selling

In related news, CEO Brett Alan Cope sold 2,750 shares of the firm's stock in a transaction on Friday, August 9th. The stock was sold at an average price of $162.42, for a total value of $446,655.00. Following the transaction, the chief executive officer now directly owns 145,987 shares of the company's stock, valued at approximately $23,711,208.54. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Brett Alan Cope sold 2,750 shares of the firm's stock in a transaction on Friday, August 9th. The stock was sold at an average price of $162.42, for a total value of $446,655.00. Following the transaction, the chief executive officer now directly owns 145,987 shares of the company's stock, valued at approximately $23,711,208.54. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Thomas W. Powell sold 2,451 shares of the firm's stock in a transaction 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 completion of the transaction, the insider now directly owns 1,628,328 shares in the company, valued at approximately $426,784,768.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 64,350 shares of company stock valued at $14,614,341. 2.20% of the stock is owned by company insiders.

About Powell Industries

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.