MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Acquires 16,002 Shares of Powell Industries, Inc. (NASDAQ:POWL)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Powell Industries, Inc. (NASDAQ:POWL - Free Report) by 5.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 297,868 shares of the industrial products company's stock after purchasing an additional 16,002 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 2.47% of Powell Industries worth $66,023,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Principal Securities Inc. bought a new stake in Powell Industries in the fourth quarter valued at about $26,000. Smartleaf Asset Management LLC increased its holdings in shares of Powell Industries by 455.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 161 shares of the industrial products company's stock worth $37,000 after acquiring an additional 132 shares in the last quarter. Blue Trust Inc. bought a new stake in shares of Powell Industries in the fourth quarter worth about $40,000. GeoWealth Management LLC increased its holdings in shares of Powell Industries by 123.8% in the fourth quarter. GeoWealth Management LLC now owns 179 shares of the industrial products company's stock worth $40,000 after acquiring an additional 99 shares in the last quarter. Finally, Tucker Asset Management LLC bought a new stake in shares of Powell Industries in the fourth quarter worth about $43,000. Institutional investors own 89.77% of the company's stock.

Powell Industries Stock Performance

Powell Industries stock traded up $5.41 during midday trading on Friday, reaching $183.17. The stock had a trading volume of 294,486 shares, compared to its average volume of 433,575. The firm's fifty day simple moving average is $178.32 and its 200-day simple moving average is $221.43. Powell Industries, Inc. has a 1-year low of $127.01 and a 1-year high of $364.98. The stock has a market capitalization of $2.21 billion, a P/E ratio of 13.91, a price-to-earnings-growth ratio of 0.98 and a beta of 0.78.

Powell Industries (NASDAQ:POWL - Get Free Report) last announced its earnings results on Tuesday, May 6th. The industrial products company reported $3.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.34 by $0.47. Powell Industries had a return on equity of 35.48% and a net margin of 15.15%. The business had revenue of $278.63 million for the quarter, compared to analyst estimates of $282.68 million. During the same quarter last year, the firm earned $2.75 EPS. Powell Industries's revenue for the quarter was up 9.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Powell Industries, Inc. will post 13.71 earnings per share for the current fiscal year.

Powell Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Wednesday, May 21st will be given a $0.2675 dividend. This represents a $1.07 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend is Wednesday, May 21st. Powell Industries's dividend payout ratio is presently 7.52%.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Powell Industries from a "hold" rating to a "buy" rating in a report on Tuesday, March 11th.

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.