Cim LLC Takes Position in Powell Industries, Inc. (NASDAQ:POWL)

Cim LLC purchased a new position in shares of Powell Industries, Inc. (NASDAQ:POWL) during the second quarter, Holdings Channel reports. The firm purchased 1,484 shares of the industrial products company’s stock, valued at approximately $222,000.

Other institutional investors also recently added to or reduced their stakes in the company. Virtu Financial LLC purchased a new position in shares of Powell Industries during the fourth quarter worth approximately $214,000. Range Financial Group LLC increased its stake in Powell Industries by 18.0% in the first quarter. Range Financial Group LLC now owns 14,102 shares of the industrial products company’s stock valued at $2,007,000 after purchasing an additional 2,155 shares during the period. Ausbil Investment Management Ltd purchased a new stake in shares of Powell Industries in the first quarter valued at about $631,000. Guidance Capital Inc. acquired a new stake in shares of Powell Industries during the first quarter worth about $674,000. Finally, Diversified Trust Co acquired a new stake in shares of Powell Industries during the first quarter worth about $212,000. Institutional investors and hedge funds own 89.77% of the company’s stock.

Powell Industries Price Performance

Shares of NASDAQ POWL opened at $231.60 on Thursday. The company has a market cap of $2.78 billion, a PE ratio of 27.51, a P/E/G ratio of 1.30 and a beta of 0.87. The stock has a fifty day moving average price of $173.82 and a 200 day moving average price of $160.06. Powell Industries, Inc. has a 1-year low of $72.51 and a 1-year high of $233.00.

Powell Industries (NASDAQ:POWL) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $3.79 earnings per share for the quarter, beating the consensus estimate of $2.16 by $1.63. The business had revenue of $288.17 million for the quarter, compared to the consensus estimate of $222.18 million. Powell Industries had a net margin of 13.77% and a return on equity of 33.09%. The business’s quarterly revenue was up 49.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.52 earnings per share. Analysts anticipate that Powell Industries, Inc. will post 12.01 earnings per share for the current fiscal year.

Powell Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 14th were given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend was Wednesday, August 14th. Powell Industries’s payout ratio is 12.59%.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Powell Industries from a “buy” rating to a “hold” rating in a research note on Tuesday, September 24th.

Insider Transactions at Powell Industries

In related news, CEO Brett Alan Cope sold 2,750 shares of Powell Industries stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $142.31, for a total value of $391,352.50. Following the sale, the chief executive officer now directly owns 148,737 shares in the company, valued at $21,166,762.47. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, major shareholder Thomas W. Powell sold 25,000 shares of Powell Industries stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $213.56, for a total transaction of $5,339,000.00. Following the completion of the sale, the insider now directly owns 682,265 shares in the company, valued at approximately $145,704,513.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Brett Alan Cope sold 2,750 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $142.31, for a total value of $391,352.50. Following the sale, the chief executive officer now directly owns 148,737 shares in the company, valued at approximately $21,166,762.47. The disclosure for this sale can be found here. In the last three months, insiders sold 38,100 shares of company stock valued at $7,563,552. Corporate insiders own 2.20% of the company’s stock.

Powell Industries 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.