Powell Industries (NASDAQ:POWL) Trading Down 5.5% - What's Next?

Powell Industries, Inc. (NASDAQ:POWL - Get Free Report)'s share price dropped 5.5% during mid-day trading on Tuesday . The company traded as low as $236.35 and last traded at $238.63. Approximately 110,968 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 384,338 shares. The stock had previously closed at $252.57.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on POWL shares. Roth Mkm began coverage on Powell Industries in a research report on Wednesday, December 11th. They set a "buy" rating and a $312.00 price target for the company. StockNews.com upgraded shares of Powell Industries from a "hold" rating to a "buy" rating in a research note on Tuesday, December 10th. Finally, Roth Capital raised Powell Industries to a "strong-buy" rating in a research report on Tuesday, December 10th.

Powell Industries Stock Down 4.5 %

The stock's fifty day moving average is $277.84 and its two-hundred day moving average is $206.30. The firm has a market capitalization of $2.90 billion, a price-to-earnings ratio of 19.63, a P/E/G ratio of 1.31 and a beta of 0.85.

Powell Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 20th will be issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date is Wednesday, November 20th. Powell Industries's payout ratio is currently 8.62%.

Insider Activity

In related news, major shareholder Thomas W. Powell sold 25,000 shares of the business's stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $213.56, for a total value of $5,339,000.00. Following the completion of the sale, the insider now directly owns 682,265 shares in the company, valued at $145,704,513.40. The trade was a 3.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold a total of 60,000 shares of company stock valued at $14,679,842 over the last three months. Insiders own 2.20% of the company's stock.

Institutional Trading of Powell Industries

Hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp raised its holdings in Powell Industries by 0.9% in the 3rd quarter. State Street Corp now owns 362,717 shares of the industrial products company's stock valued at $80,520,000 after acquiring an additional 3,403 shares in the last quarter. American Century Companies Inc. boosted its stake in Powell Industries by 15.0% in the second quarter. American Century Companies Inc. now owns 274,388 shares of the industrial products company's stock valued at $39,347,000 after buying an additional 35,818 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Powell Industries by 3.9% in the third quarter. Geode Capital Management LLC now owns 257,049 shares of the industrial products company's stock worth $57,071,000 after acquiring an additional 9,692 shares during the last quarter. Wellington Management Group LLP acquired a new stake in Powell Industries in the third quarter valued at approximately $30,038,000. Finally, Bank of New York Mellon Corp grew its stake in shares of Powell Industries by 1.0% during the second quarter. Bank of New York Mellon Corp now owns 99,517 shares of the industrial products company's stock worth $14,271,000 after buying an additional 1,015 shares during the last quarter. Institutional investors and hedge funds own 89.77% of the company's stock.

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.