Morgan Dempsey Capital Management LLC raised its position in Powell Industries, Inc. (NASDAQ:POWL) by 55.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,945 shares of the industrial products company’s stock after acquiring an additional 13,958 shares during the period. Morgan Dempsey Capital Management LLC owned approximately 340,726.16% of Powell Industries worth $1,172,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently bought and sold shares of POWL. Schwab Charles Investment Management Inc. lifted its position in Powell Industries by 6.1% during the first quarter. Schwab Charles Investment Management Inc. now owns 35,890 shares of the industrial products company’s stock valued at $1,237,000 after purchasing an additional 2,052 shares during the period. Heartland Advisors Inc. lifted its position in Powell Industries by 26.7% during the third quarter. Heartland Advisors Inc. now owns 379,385 shares of the industrial products company’s stock valued at $11,378,000 after purchasing an additional 79,884 shares during the period. Bessemer Group Inc. lifted its position in Powell Industries by 7.9% during the second quarter. Bessemer Group Inc. now owns 8,200 shares of the industrial products company’s stock valued at $262,000 after purchasing an additional 600 shares during the period. Renaissance Technologies LLC increased its holdings in Powell Industries by 10.0% in the first quarter. Renaissance Technologies LLC now owns 265,300 shares of the industrial products company’s stock valued at $9,137,000 after buying an additional 24,200 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in Powell Industries by 49.5% in the second quarter. Goldman Sachs Group Inc. now owns 49,823 shares of the industrial products company’s stock valued at $1,594,000 after buying an additional 16,501 shares in the last quarter. Institutional investors and hedge funds own 62.69% of the company’s stock.
Powell Industries, Inc. (NASDAQ:POWL) traded down $0.04 during trading hours on Friday, reaching $28.20. 8,697 shares of the company’s stock traded hands, compared to its average volume of 39,329. The firm has a market cap of $322.74, a price-to-earnings ratio of 134.48 and a beta of 0.86. Powell Industries, Inc. has a 12 month low of $26.75 and a 12 month high of $47.24.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 13th. Stockholders of record on Tuesday, November 21st will be issued a $0.26 dividend. The ex-dividend date of this dividend is Monday, November 20th. This represents a $1.04 annualized dividend and a dividend yield of 3.69%. Powell Industries’s dividend payout ratio is currently 1,040.10%.
Separately, BidaskClub cut shares of Powell Industries from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 2nd.
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About Powell Industries
Powell Industries, Inc develops design, manufactures and services custom-engineered equipment and systems for the distribution, control and monitoring of electrical energy designed to distribute, control and monitor the flow of electrical energy, and provide protection to motors, transformers and other electrically powered equipment.
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