Bank of New York Mellon Corp Makes New Investment in Power Solutions International, Inc. $PSIX

Key Points

• Bank of New York Mellon bought 35,290 shares of Power Solutions International during the second quarter, worth approximately $1.37 million and representing about 0.15% of the company. Institutional investors collectively own 22.28% of PSIX.
• Power Solutions International reported quarterly EPS of $0.78 on revenue of $152.54 million, with a 37.73% return on equity and a 10.03% net margin.
• Analyst sentiment is generally positive, with the stock carrying a consensus “Buy” rating and an average price target of $99.95, compared with an opening price of $42.08.

Bank of New York Mellon Corp purchased a new stake in shares of Power Solutions International, Inc. (NASDAQ:PSIX - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 35,290 shares of the company's stock, valued at approximately $1,372,000. Bank of New York Mellon Corp owned approximately 0.15% of Power Solutions International at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. World Equity Group Inc. boosted its holdings in shares of Power Solutions International by 16.1% during the 2nd quarter. World Equity Group Inc. now owns 20,681 shares of the company's stock valued at $804,000 after acquiring an additional 2,873 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in Power Solutions International by 33.4% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 21,546 shares of the company's stock valued at $838,000 after buying an additional 5,396 shares during the last quarter. Hamilton Wealth LLC purchased a new stake in Power Solutions International during the 1st quarter valued at $120,000. Bank of America Corp DE lifted its holdings in shares of Power Solutions International by 183.9% during the 1st quarter. Bank of America Corp DE now owns 31,495 shares of the company's stock valued at $1,917,000 after buying an additional 20,400 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Power Solutions International by 5.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 466,204 shares of the company's stock valued at $28,382,000 after buying an additional 23,108 shares during the period. 22.28% of the stock is owned by institutional investors.

Power Solutions International Stock Performance

NASDAQ:PSIX opened at $42.08 on Thursday. The stock has a 50-day simple moving average of $35.26 and a two-hundred day simple moving average of $49.59. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.49 and a current ratio of 2.57. Power Solutions International, Inc. has a 52-week low of $25.28 and a 52-week high of $119.70. The firm has a market capitalization of $970.58 million, a PE ratio of 14.26 and a beta of 2.11.

Power Solutions International (NASDAQ:PSIX - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.78 earnings per share (EPS) for the quarter. The company had revenue of $152.54 million during the quarter. Power Solutions International had a return on equity of 37.73% and a net margin of 10.03%.

Analysts Set New Price Targets

Several brokerages recently commented on PSIX. Weiss Ratings lowered Power Solutions International from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, July 24th. Freedom Capital raised Power Solutions International from a "hold" rating to a "strong-buy" rating in a report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $99.95.

About Power Solutions International

Power Solutions International, Inc is a global designer and manufacturer of integrated powertrain solutions for commercial vehicle, industrial and military applications. Headquartered in Wood Dale, Illinois, the company develops and assembles advanced diesel engine and transmission packages under the Atlas® brand, combining proprietary engine technology with high-efficiency transmissions to deliver power-dense systems. These solutions are tailored for medium- and heavy-duty trucks, buses, construction equipment, generator sets and specialty vehicles.

In addition to complete powertrain systems, the company offers a broad range of component products including diesel engines, transmissions and aftertreatment modules.

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