TIAA CREF Investment Management LLC decreased its position in shares of Powell Industries, Inc. (NASDAQ:POWL) by 2.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 24,396 shares of the industrial products company’s stock after selling 724 shares during the period. TIAA CREF Investment Management LLC owned about 0.21% of Powell Industries worth $840,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of POWL. Norges Bank bought a new position in Powell Industries during the fourth quarter worth $6,899,000. OppenheimerFunds Inc. boosted its position in Powell Industries by 32.4% in the first quarter. OppenheimerFunds Inc. now owns 11,934 shares of the industrial products company’s stock worth $411,000 after buying an additional 2,917 shares in the last quarter. Strs Ohio boosted its position in Powell Industries by 12.6% in the first quarter. Strs Ohio now owns 19,600 shares of the industrial products company’s stock worth $675,000 after buying an additional 2,200 shares in the last quarter. Nationwide Fund Advisors boosted its position in Powell Industries by 1.4% in the first quarter. Nationwide Fund Advisors now owns 20,711 shares of the industrial products company’s stock worth $713,000 after buying an additional 284 shares in the last quarter. Finally, State of Tennessee Treasury Department boosted its position in Powell Industries by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 8,685 shares of the industrial products company’s stock worth $299,000 after buying an additional 1,311 shares in the last quarter. 65.25% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Powell Industries, Inc. (NASDAQ:POWL) traded up 0.29% during trading on Monday, reaching $27.87. The company’s stock had a trading volume of 9,258 shares. Powell Industries, Inc. has a 1-year low of $27.79 and a 1-year high of $47.24. The company has a market capitalization of $318.50 million, a PE ratio of 273.24 and a beta of 0.83. The stock has a 50 day moving average of $32.18 and a 200-day moving average of $33.28.
Powell Industries (NASDAQ:POWL) last issued its quarterly earnings data on Tuesday, August 8th. The industrial products company reported ($0.28) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.06) by $0.22. The firm had revenue of $85.90 million during the quarter, compared to analyst estimates of $104.45 million. Powell Industries had a net margin of 0.27% and a return on equity of 0.71%. The company’s quarterly revenue was down 35.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.47 earnings per share. On average, analysts expect that Powell Industries, Inc. will post ($0.46) earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 13th. Stockholders of record on Wednesday, August 23rd will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 3.71%. The ex-dividend date is Monday, August 21st. Powell Industries’s payout ratio is currently 1,040.10%.
Separately, BidaskClub raised Powell Industries from a “strong sell” rating to a “sell” rating in a research note on Tuesday, July 25th.
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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