AFG Fiduciary Services Limited Partnership Takes $322,000 Position in Powell Industries, Inc. $POWL

Key Points

• AFG Fiduciary Services Limited Partnership has acquired a new position in Powell Industries, purchasing 1,533 shares valued at approximately $322,000.
• CEO Brett Alan Cope sold 6,775 shares of Powell Industries, reducing his ownership by 4.39%, while EVP Michael William Metcalf sold 3,921 shares, decreasing his stake by 11.95%.
• Powell Industries announced a quarterly dividend of $0.2675 per share, representing a yield of 0.4%, with a payout ratio of 7.43%.

AFG Fiduciary Services Limited Partnership bought a new position in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,533 shares of the industrial products company's stock, valued at approximately $322,000.

A number of other hedge funds also recently bought and sold shares of POWL. Versant Capital Management Inc purchased a new stake in Powell Industries in the first quarter valued at approximately $25,000. Brooklyn Investment Group increased its holdings in Powell Industries by 168.8% in the first quarter. Brooklyn Investment Group now owns 172 shares of the industrial products company's stock valued at $29,000 after buying an additional 108 shares during the last quarter. Harbour Investments Inc. lifted its position in Powell Industries by 1,970.0% in the first quarter. Harbour Investments Inc. now owns 207 shares of the industrial products company's stock valued at $35,000 after acquiring an additional 197 shares during the last quarter. AlphaQuest LLC grew its position in Powell Industries by 472.0% during the 1st quarter. AlphaQuest LLC now owns 429 shares of the industrial products company's stock worth $73,000 after purchasing an additional 354 shares during the last quarter. Finally, Rossby Financial LCC purchased a new position in Powell Industries during the 1st quarter worth $112,000. Hedge funds and other institutional investors own 89.77% of the company's stock.

Insider Buying and Selling at Powell Industries

In other news, Director John Birchall sold 3,000 shares of the stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $260.03, for a total value of $780,090.00. Following the completion of the transaction, the director owned 6,700 shares of the company's stock, valued at approximately $1,742,201. This represents a 30.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Michael William Metcalf sold 3,921 shares of the firm's stock in a transaction on Friday, June 27th. The stock was sold at an average price of $210.55, for a total value of $825,566.55. Following the sale, the executive vice president directly owned 28,900 shares of the company's stock, valued at approximately $6,084,895. This represents a 11.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,328 shares of company stock worth $4,158,845 over the last 90 days. Insiders own 2.20% of the company's stock.

Powell Industries Trading Up 1.9%

Shares of POWL stock traded up $5.59 during mid-day trading on Monday, reaching $302.90. The stock had a trading volume of 154,622 shares, compared to its average volume of 359,127. Powell Industries, Inc. has a 12-month low of $146.02 and a 12-month high of $364.98. The company has a market cap of $3.66 billion, a P/E ratio of 21.03, a price-to-earnings-growth ratio of 1.48 and a beta of 0.85. The business has a 50-day simple moving average of $255.20 and a 200 day simple moving average of $208.30.

Powell Industries (NASDAQ:POWL - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The industrial products company reported $3.96 EPS for the quarter, beating analysts' consensus estimates of $3.73 by $0.23. Powell Industries had a return on equity of 33.16% and a net margin of 16.22%.The business had revenue of $286.27 million during the quarter, compared to the consensus estimate of $301.69 million. During the same quarter in the previous year, the business earned $3.79 earnings per share. The business's revenue for the quarter was down .7% on a year-over-year basis. Research analysts anticipate that Powell Industries, Inc. will post 13.71 EPS for the current year.

Powell Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders of record on Wednesday, August 20th were paid a dividend of $0.2675 per share. The ex-dividend date was Wednesday, August 20th. This represents a $1.07 annualized dividend and a yield of 0.4%. Powell Industries's payout ratio is presently 7.43%.

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.