Powell Industries, Inc. (NASDAQ:POWL) to Issue Dividend Increase - $0.27 Per Share

Powell Industries, Inc. (NASDAQ:POWL - Get Free Report) announced a quarterly dividend on Tuesday, April 30th, Zacks reports. Shareholders of record on Wednesday, May 15th will be paid a dividend of 0.265 per share by the industrial products company on Wednesday, June 12th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date is Tuesday, May 14th. This is an increase from Powell Industries's previous quarterly dividend of $0.26.

Powell Industries has increased its dividend by an average of 0.3% annually over the last three years and has increased its dividend every year for the last 2 years. Powell Industries has a dividend payout ratio of 13.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Powell Industries to earn $7.64 per share next year, which means the company should continue to be able to cover its $1.06 annual dividend with an expected future payout ratio of 13.9%.

Powell Industries Stock Down 5.5 %

Shares of NASDAQ:POWL traded down $9.43 on Thursday, reaching $160.58. 489,468 shares of the company's stock were exchanged, compared to its average volume of 334,455. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of 18.73, a PEG ratio of 1.35 and a beta of 0.79. Powell Industries has a fifty-two week low of $45.97 and a fifty-two week high of $197.87. The business's 50-day moving average is $148.12 and its two-hundred day moving average is $112.20.

Powell Industries (NASDAQ:POWL - Get Free Report) last issued its earnings results on Tuesday, April 30th. The industrial products company reported $2.75 earnings per share for the quarter, topping analysts' consensus estimates of $1.89 by $0.86. The company had revenue of $255.10 million for the quarter, compared to analysts' expectations of $201.45 million. Powell Industries had a net margin of 12.05% and a return on equity of 28.91%. The firm's revenue was up 48.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.70 earnings per share. Analysts predict that Powell Industries will post 7.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Thomas W. Powell sold 10,000 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $167.46, for a total value of $1,674,600.00. Following the sale, the insider now owns 1,703,628 shares of the company's stock, valued at approximately $285,289,544.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Christopher E. Cragg sold 9,000 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $155.13, for a total value of $1,396,170.00. Following the completion of the transaction, the director now owns 12,360 shares in the company, valued at approximately $1,917,406.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Thomas W. Powell sold 10,000 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $167.46, for a total transaction of $1,674,600.00. Following the completion of the transaction, the insider now owns 1,703,628 shares of the company's stock, valued at approximately $285,289,544.88. The disclosure for this sale can be found here. Insiders have sold a total of 30,000 shares of company stock valued at $4,850,830 in the last quarter. Company insiders own 2.20% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Powell Industries from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 1st.

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.