Acadian Asset Management LLC Lowers Stake in Powell Industries, Inc. (NASDAQ:POWL)

Acadian Asset Management LLC lowered its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL) by 73.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,339 shares of the industrial products company’s stock after selling 54,668 shares during the period. Acadian Asset Management LLC’s holdings in Powell Industries were worth $2,770,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. GAMMA Investing LLC boosted its position 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 purchasing an additional 79 shares in the last quarter. Picton Mahoney Asset Management purchased a new position in shares of Powell Industries in the 2nd quarter worth about $47,000. Plato Investment Management Ltd bought a new position in Powell Industries in the 1st quarter worth about $50,000. Caxton Associates LP purchased a new stake in Powell Industries during the 1st quarter valued at about $212,000. Finally, Diversified Trust Co purchased a new stake in Powell Industries during the 1st quarter valued at about $212,000. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Powell Industries from a “hold” rating to a “buy” rating in a report on Thursday, June 6th.

Insider Activity at Powell Industries

In other Powell Industries news, CEO Brett Alan Cope sold 2,750 shares of the business’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $142.31, for a total transaction of $391,352.50. Following the completion of the sale, the chief executive officer now directly owns 148,737 shares in the company, valued at approximately $21,166,762.47. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Robert B. Callahan sold 1,000 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $160.00, for a total value of $160,000.00. Following the transaction, the insider now owns 11,066 shares in the company, valued at approximately $1,770,560. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brett Alan Cope sold 2,750 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $142.31, for a total transaction of $391,352.50. Following the sale, the chief executive officer now owns 148,737 shares of the company’s stock, valued at $21,166,762.47. The disclosure for this sale can be found here. Insiders have sold a total of 13,100 shares of company stock worth $2,224,552 over the last quarter. Company insiders own 2.20% of the company’s stock.

Powell Industries Trading Up 0.8 %

Powell Industries stock opened at $168.30 on Friday. Powell Industries, Inc. has a 12 month low of $72.51 and a 12 month high of $209.14. The stock has a fifty day simple moving average of $156.14 and a two-hundred day simple moving average of $156.49. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of 19.99, a PEG ratio of 0.97 and a beta of 0.87.

Powell Industries (NASDAQ:POWL) last released its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $3.79 EPS for the quarter, topping the consensus estimate of $2.16 by $1.63. The company had revenue of $288.17 million during the quarter, compared to the consensus estimate of $222.18 million. Powell Industries had a return on equity of 33.09% and a net margin of 13.77%. Powell Industries’s revenue for the quarter was up 49.8% on a year-over-year basis. During the same period last year, the company earned $1.52 EPS. On average, equities research analysts forecast that Powell Industries, Inc. will post 12.01 EPS for the current fiscal year.

Powell Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, August 14th will be given a dividend of $0.265 per share. The ex-dividend date is Wednesday, August 14th. This represents a $1.06 dividend on an annualized basis and a yield of 0.63%. Powell Industries’s dividend payout ratio (DPR) is 12.59%.

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.