AFG Fiduciary Services Limited Partnership Acquires New 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 acquired a new position in Powell Industries, Inc. (NASDAQ:POWL - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,533 shares of the industrial products company's stock, valued at approximately $322,000.

Other hedge funds have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its holdings in Powell Industries by 93.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,838 shares of the industrial products company's stock valued at $675,000 after buying an additional 1,858 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Powell Industries by 2.8% during the 1st quarter. Principal Financial Group Inc. now owns 55,568 shares of the industrial products company's stock valued at $9,465,000 after buying an additional 1,509 shares during the last quarter. Vontobel Holding Ltd. raised its holdings in Powell Industries by 11.4% during the 1st quarter. Vontobel Holding Ltd. now owns 1,337 shares of the industrial products company's stock valued at $228,000 after buying an additional 137 shares during the last quarter. GAMMA Investing LLC raised its holdings in Powell Industries by 29.8% during the 1st quarter. GAMMA Investing LLC now owns 601 shares of the industrial products company's stock valued at $102,000 after buying an additional 138 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in Powell Industries by 17.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 1,938 shares of the industrial products company's stock valued at $330,000 after purchasing an additional 292 shares during the period. 89.77% of the stock is currently owned by institutional investors.

Insider Transactions at Powell Industries

In other news, EVP Michael William Metcalf sold 3,921 shares of the company's stock in a transaction dated Friday, June 27th. The shares were 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 $6,084,895. This represents a 11.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brett Alan Cope sold 6,775 shares of the stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $210.55, for a total transaction of $1,426,476.25. Following the sale, the chief executive officer directly owned 147,471 shares in the company, valued at $31,050,019.05. This trade represents a 4.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,328 shares of company stock valued at $4,158,845 in the last three months. 2.20% of the stock is currently owned by company insiders.

Powell Industries Price Performance

Powell Industries stock traded down $12.29 during mid-day trading on Tuesday, reaching $290.62. 134,987 shares of the company traded hands, compared to its average volume of 357,809. The firm's 50 day moving average price is $257.05 and its 200 day moving average price is $209.28. The firm has a market capitalization of $3.51 billion, a price-to-earnings ratio of 20.18, a P/E/G ratio of 1.48 and a beta of 0.85. Powell Industries, Inc. has a 52-week low of $146.02 and a 52-week high of $364.98.

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

Powell Industries Announces Dividend

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

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.