Swiss National Bank boosted its stake in shares of Powell Industries, Inc. (NASDAQ:POWL) by 13.6% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 18,400 shares of the industrial products company’s stock after acquiring an additional 2,200 shares during the period. Swiss National Bank’s holdings in Powell Industries were worth $699,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. BNP Paribas Arbitrage SA raised its position in Powell Industries by 346.0% during the first quarter. BNP Paribas Arbitrage SA now owns 1,851 shares of the industrial products company’s stock worth $49,000 after acquiring an additional 1,436 shares during the period. KBC Group NV acquired a new position in Powell Industries during the second quarter worth $106,000. Aperio Group LLC acquired a new position in Powell Industries during the second quarter worth $134,000. SG Americas Securities LLC acquired a new position in Powell Industries during the first quarter worth $165,000. Finally, Alambic Investment Management L.P. acquired a new position in Powell Industries during the first quarter worth $202,000. Institutional investors own 65.12% of the company’s stock.
In other news, Director Bonnie V. Hancock sold 2,000 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $37.89, for a total transaction of $75,780.00. Following the completion of the sale, the director now owns 17,300 shares of the company’s stock, valued at $655,497. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 23.90% of the stock is owned by corporate insiders.
Shares of Powell Industries stock traded up $1.29 during trading hours on Friday, reaching $38.97. 2,823 shares of the company’s stock were exchanged, compared to its average volume of 51,719. Powell Industries, Inc. has a 1 year low of $22.55 and a 1 year high of $39.02. The company has a market capitalization of $426.35 million, a P/E ratio of 78.43 and a beta of 1.27. The business has a fifty day moving average of $36.89 and a two-hundred day moving average of $34.06.
Powell Industries (NASDAQ:POWL) last released its earnings results on Tuesday, August 6th. The industrial products company reported $0.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.24. Powell Industries had a net margin of 0.97% and a return on equity of 1.87%. The business had revenue of $135.60 million during the quarter, compared to analyst estimates of $132.31 million. During the same quarter in the prior year, the firm earned $0.03 earnings per share. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 21st will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend is Tuesday, August 20th.
Powell Industries Profile
Powell Industries, Inc, together with its subsidiaries, designs, develops, manufactures, sells, and services custom-engineered equipment and systems for the distribution, control, and monitoring of electrical energy. 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, and bus duct systems, as well as traditional and arc-resistant distribution switchgears and control gears.
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