Hodges Capital Management Inc. Invests $10.17 Million in Powell Industries, Inc. $POWL

Hodges Capital Management Inc. acquired a new position in Powell Industries, Inc. (NASDAQ:POWL) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 48,330 shares of the industrial products company’s stock, valued at approximately $10,171,000. Hodges Capital Management Inc. owned about 0.40% of Powell Industries at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. New Vernon Capital Holdings II LLC bought a new position in Powell Industries in the first quarter worth approximately $34,554,000. GW&K Investment Management LLC bought a new stake in shares of Powell Industries during the 1st quarter valued at $27,984,000. RPG Investment Advisory LLC increased its stake in shares of Powell Industries by 342.4% in the 1st quarter. RPG Investment Advisory LLC now owns 154,126 shares of the industrial products company’s stock worth $26,252,000 after purchasing an additional 119,289 shares in the last quarter. HITE Hedge Asset Management LLC bought a new position in Powell Industries in the 1st quarter worth $16,405,000. Finally, Jacobs Levy Equity Management Inc. raised its holdings in Powell Industries by 137.7% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 134,946 shares of the industrial products company’s stock worth $22,985,000 after purchasing an additional 78,163 shares during the period. 89.77% of the stock is currently owned by institutional investors.

Insider Transactions at Powell Industries

In other news, Director John Birchall sold 3,000 shares of the business’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $260.03, for a total value of $780,090.00. Following the transaction, the director directly owned 6,700 shares in the company, valued at $1,742,201. The trade was a 30.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael William Metcalf sold 3,200 shares of the company’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $298.74, for a total value of $955,968.00. Following the completion of the transaction, the executive vice president directly owned 25,700 shares of the company’s stock, valued at approximately $7,677,618. This trade represents a 11.07% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.20% of the stock is owned by company insiders.

Powell Industries Price Performance

Shares of POWL stock opened at $365.36 on Monday. Powell Industries, Inc. has a one year low of $146.02 and a one year high of $413.00. The company’s fifty day moving average price is $319.61 and its 200-day moving average price is $248.52. The company has a market capitalization of $4.41 billion, a price-to-earnings ratio of 25.37, a PEG ratio of 1.95 and a beta of 0.81.

Powell Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Wednesday, November 19th will be issued a dividend of $0.2675 per share. The ex-dividend date of this dividend is Wednesday, November 19th. This represents a $1.07 dividend on an annualized basis and a yield of 0.3%. Powell Industries’s dividend payout ratio (DPR) is currently 7.43%.

Analyst Ratings Changes

Separately, Weiss Ratings raised Powell Industries from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $312.00.

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.