Cim LLC Has $219,000 Stock Position in Powell Industries, Inc. $POWL

Cim LLC reduced its holdings in shares of Powell Industries, Inc. (NASDAQ:POWL) by 8.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,287 shares of the industrial products company’s stock after selling 123 shares during the quarter. Cim LLC’s holdings in Powell Industries were worth $219,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its holdings in shares of Powell Industries by 93.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,838 shares of the industrial products company’s stock valued at $675,000 after buying an additional 1,858 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Powell Industries by 2.8% during the first quarter. Principal Financial Group Inc. now owns 55,568 shares of the industrial products company’s stock valued at $9,465,000 after purchasing an additional 1,509 shares in the last quarter. Vontobel Holding Ltd. lifted its position in shares of Powell Industries by 11.4% during the first quarter. Vontobel Holding Ltd. now owns 1,337 shares of the industrial products company’s stock valued at $228,000 after purchasing an additional 137 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Powell Industries by 29.8% during the first quarter. GAMMA Investing LLC now owns 601 shares of the industrial products company’s stock valued at $102,000 after purchasing an additional 138 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of Powell Industries by 17.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 1,938 shares of the industrial products company’s stock valued at $330,000 after purchasing an additional 292 shares in the last quarter. 89.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Powell Industries

In other Powell Industries news, EVP Michael William Metcalf sold 3,921 shares of Powell Industries stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $210.55, for a total value of $825,566.55. Following the sale, the executive vice president owned 28,900 shares of the company’s stock, valued at approximately $6,084,895. The trade was a 11.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John Birchall sold 3,000 shares of Powell Industries stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $260.03, for a total transaction of $780,090.00. Following the completion of the sale, the director directly owned 6,700 shares in the company, valued at approximately $1,742,201. This represents a 30.93% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,308 shares of company stock valued at $4,354,845 over the last ninety days. Corporate insiders own 2.20% of the company’s stock.

Powell Industries Price Performance

POWL opened at $287.68 on Friday. The company’s 50-day moving average is $246.73 and its 200 day moving average is $202.98. Powell Industries, Inc. has a fifty-two week low of $146.02 and a fifty-two week high of $364.98. The firm has a market capitalization of $3.47 billion, a P/E ratio of 19.98, a PEG ratio of 1.45 and a beta of 0.85.

Powell Industries (NASDAQ:POWL) last released its quarterly earnings results on Tuesday, August 5th. The industrial products company reported $3.96 earnings per share for the quarter, beating analysts’ consensus estimates of $3.73 by $0.23. Powell Industries had a net margin of 16.22% and a return on equity of 33.16%. The company had revenue of $286.27 million for the quarter, compared to analyst estimates of $301.69 million. During the same period last year, the firm earned $3.79 earnings per share. The firm’s revenue was down .7% on a year-over-year basis. On average, equities research analysts expect that Powell Industries, Inc. will post 13.71 earnings per share for the current year.

Powell Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, August 20th will be given a dividend of $0.2675 per share. This represents a $1.07 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Wednesday, August 20th. Powell Industries’s dividend payout ratio (DPR) is presently 7.43%.

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.