Powell Industries (NASDAQ:POWL) Trading Up 7% After Dividend Announcement

Powell Industries, Inc. (NASDAQ:POWL - Get Free Report) rose 7% during trading on Wednesday after the company announced a dividend. The stock traded as high as $250.03 and last traded at $249.46. Approximately 143,102 shares were traded during trading, a decline of 70% from the average daily volume of 474,117 shares. The stock had previously closed at $233.14.

The newly announced dividend which will be paid on Wednesday, March 19th. Investors of record on Wednesday, February 19th will be issued a $0.2675 dividend. This represents a $1.07 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Wednesday, February 19th. This is an increase from Powell Industries's previous quarterly dividend of $0.27. Powell Industries's dividend payout ratio (DPR) is 8.12%.

Wall Street Analyst Weigh In

POWL has been the topic of several recent analyst reports. StockNews.com raised Powell Industries from a "hold" rating to a "buy" rating in a research report on Friday. Roth Capital raised Powell Industries to a "strong-buy" rating in a report on Tuesday, December 10th. Finally, Roth Mkm initiated coverage on shares of Powell Industries in a report on Wednesday, December 11th. They issued a "buy" rating and a $312.00 target price on the stock.

Powell Industries Price Performance

The stock's 50 day simple moving average is $249.01 and its two-hundred day simple moving average is $230.50. The company has a market capitalization of $2.76 billion, a P/E ratio of 17.38, a P/E/G ratio of 1.28 and a beta of 0.87.

Powell Industries (NASDAQ:POWL - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The industrial products company reported $2.86 earnings per share for the quarter, topping the consensus estimate of $2.83 by $0.03. Powell Industries had a net margin of 15.15% and a return on equity of 36.66%. As a group, equities research analysts expect that Powell Industries, Inc. will post 13.7 earnings per share for the current year.

Institutional Trading of Powell Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Principal Securities Inc. bought a new position in shares of Powell Industries in the 4th quarter worth $26,000. Hollencrest Capital Management bought a new position in shares of Powell Industries during the third quarter worth about $30,000. Quest Partners LLC acquired a new stake in shares of Powell Industries in the third quarter valued at approximately $35,000. Smartleaf Asset Management LLC increased its stake in Powell Industries by 455.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 161 shares of the industrial products company's stock valued at $37,000 after buying an additional 132 shares during the last quarter. Finally, Blue Trust Inc. acquired a new stake in shares of Powell Industries in the fourth quarter valued at about $40,000. 89.77% of the stock is currently owned by institutional investors and hedge funds.

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.