Apis Capital Advisors LLC Acquires Shares of 37,500 Powell Industries, Inc. $POWL

Key Points

• Apis Capital Advisors LLC made a $6.39 million investment in Powell Industries, acquiring 37,500 shares, which now represents 3.1% of its investment portfolio.
• Powell Industries reported an EPS of $3.96 for the last quarter, exceeding estimates, although its revenue decreased 0.7% year-over-year.
• The company declared a quarterly dividend of $0.2675 per share, with an annualized yield of 0.4% and a payout ratio of 7.43%.

Apis Capital Advisors LLC purchased a new stake in shares of Powell Industries, Inc. (NASDAQ:POWL - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 37,500 shares of the industrial products company's stock, valued at approximately $6,387,000. Powell Industries comprises approximately 3.1% of Apis Capital Advisors LLC's holdings, making the stock its 7th biggest position. Apis Capital Advisors LLC owned approximately 0.31% of Powell Industries as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Baird Financial Group Inc. raised its stake in shares of Powell Industries by 3.8% in the first quarter. Baird Financial Group Inc. now owns 59,804 shares of the industrial products company's stock valued at $10,186,000 after purchasing an additional 2,173 shares in the last quarter. Engine NO. 1 LLC lifted its stake in shares of Powell Industries by 46.0% during the first quarter. Engine NO. 1 LLC now owns 72,000 shares of the industrial products company's stock valued at $12,264,000 after acquiring an additional 22,700 shares during the period. Tema Etfs LLC lifted its stake in Powell Industries by 412.5% in the first quarter. Tema Etfs LLC now owns 10,332 shares of the industrial products company's stock valued at $1,760,000 after buying an additional 8,316 shares during the period. OMERS ADMINISTRATION Corp increased its holdings in shares of Powell Industries by 55.8% in the first quarter. OMERS ADMINISTRATION Corp now owns 9,035 shares of the industrial products company's stock worth $1,539,000 after acquiring an additional 3,235 shares in the last quarter. Finally, Truvestments Capital LLC grew its stake in Powell Industries by 17.0% in the first quarter. Truvestments Capital LLC now owns 5,232 shares of the industrial products company's stock valued at $891,000 after purchasing an additional 759 shares in the last quarter. 89.77% of the stock is currently owned by institutional investors and hedge funds.

Powell Industries Stock Performance

NASDAQ:POWL traded down $3.70 during mid-day trading on Friday, hitting $267.04. 76,747 shares of the stock were exchanged, compared to its average volume of 368,154. The stock has a market capitalization of $3.22 billion, a price-to-earnings ratio of 18.48, a price-to-earnings-growth ratio of 1.28 and a beta of 0.85. The firm's 50-day simple moving average is $238.98 and its 200 day simple moving average is $199.08. Powell Industries, Inc. has a fifty-two week low of $146.02 and a fifty-two week high of $364.98.

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

Powell Industries Dividend Announcement

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

Insider Buying and Selling

In other news, Director John Birchall sold 3,000 shares of Powell Industries stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $260.03, for a total transaction of $780,090.00. Following the completion of the transaction, the director directly owned 6,700 shares in the company, valued at approximately $1,742,201. This trade represents a 30.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael William Metcalf sold 3,921 shares of Powell Industries stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $210.55, for a total transaction of $825,566.55. Following the transaction, the executive vice president owned 28,900 shares of the company's stock, valued at $6,084,895. The trade was a 11.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,308 shares of company stock worth $4,354,845. Corporate insiders own 2.20% of the company's stock.

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.