Powell Industries (NASDAQ:POWL) Stock Price Down 8.6%

Shares of Powell Industries, Inc. (NASDAQ:POWL - Get Free Report) dropped 8.6% during trading on Thursday . The company traded as low as $154.84 and last traded at $155.47. Approximately 143,229 shares changed hands during trading, a decline of 57% from the average daily volume of 330,052 shares. The stock had previously closed at $170.01.

Analyst Upgrades and Downgrades

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

Powell Industries Stock Down 5.5 %

The company's fifty day moving average price is $148.12 and its 200-day moving average price is $112.20. The stock has a market capitalization of $1.93 billion, a PE ratio of 18.73, a price-to-earnings-growth ratio of 1.35 and a beta of 0.79.

Powell Industries (NASDAQ:POWL - Get Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.75 earnings per share for the quarter, beating analysts' consensus estimates of $1.89 by $0.86. Powell Industries had a return on equity of 28.91% and a net margin of 12.05%. The company had revenue of $255.10 million during the quarter, compared to analyst estimates of $201.45 million. During the same quarter last year, the company earned $0.70 EPS. The firm's revenue for the quarter was up 48.8% on a year-over-year basis. Equities research analysts anticipate that Powell Industries, Inc. will post 7.54 earnings per share for the current year.

Powell Industries Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 12th. Investors of record on Wednesday, May 15th will be paid a $0.265 dividend. This is a boost from Powell Industries's previous quarterly dividend of $0.26. The ex-dividend date is Tuesday, May 14th. This represents a $1.06 dividend on an annualized basis and a yield of 0.66%. Powell Industries's payout ratio is presently 12.59%.

Insider Buying and Selling at Powell Industries

In related news, major shareholder Thomas W. Powell sold 10,000 shares of the firm's stock in a transaction that occurred on 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 sale, the insider now owns 1,703,628 shares of the company's stock, valued at $285,289,544.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Powell Industries news, major shareholder Thomas W. Powell sold 10,000 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $167.46, for a total transaction of $1,674,600.00. Following the sale, the insider now directly owns 1,703,628 shares in the company, valued at approximately $285,289,544.88. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Thomas W. Powell sold 6,000 shares of Powell Industries stock in a transaction on Monday, February 12th. The stock was sold at an average price of $151.36, for a total value of $908,160.00. Following the completion of the sale, the insider now directly owns 714,643 shares of the company's stock, valued at approximately $108,168,364.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,000 shares of company stock worth $4,850,830. 2.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Powell Industries

Hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC purchased a new position in shares of Powell Industries during the third quarter valued at approximately $442,000. Stratos Wealth Partners LTD. purchased a new stake in Powell Industries during the 3rd quarter valued at $652,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Powell Industries during the 3rd quarter valued at $137,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Powell Industries by 9.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 380,177 shares of the industrial products company's stock worth $31,517,000 after buying an additional 31,989 shares during the last quarter. Finally, Advisor Partners II LLC bought a new stake in shares of Powell Industries in the third quarter worth $241,000. Hedge funds and other institutional investors own 89.77% 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.