Powell Industries, Inc. (POWL) To Go Ex-Dividend on May 14th

Powell Industries, Inc. (NASDAQ:POWL) declared a quarterly dividend on Tuesday, April 30th, Zacks reports. Shareholders of record on Wednesday, May 15th will be paid a dividend of 0.265 per share by the industrial products company on Wednesday, June 12th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend is Tuesday, May 14th. This is a boost from Powell Industries’s previous quarterly dividend of $0.26.

Powell Industries has increased its dividend by an average of 0.3% annually over the last three years and has raised its dividend annually for the last 2 consecutive years. Powell Industries has a payout ratio of 13.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Powell Industries to earn $7.64 per share next year, which means the company should continue to be able to cover its $1.06 annual dividend with an expected future payout ratio of 13.9%.

Powell Industries Trading Down 7.8 %

Shares of Powell Industries stock traded down $13.19 during trading on Thursday, reaching $156.82. The company’s stock had a trading volume of 148,417 shares, compared to its average volume of 330,052. The stock has a 50-day moving average price of $148.12 and a two-hundred day moving average price of $112.20. Powell Industries has a one year low of $45.97 and a one year high of $197.87. The stock has a market capitalization of $1.88 billion, a P/E ratio of 18.73, a price-to-earnings-growth ratio of 1.35 and a beta of 0.79.

Powell Industries (NASDAQ:POWL) last released its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.86. The business had revenue of $255.10 million during the quarter, compared to analysts’ expectations of $201.45 million. Powell Industries had a return on equity of 28.91% and a net margin of 12.05%. The firm’s revenue for the quarter was up 48.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.70 earnings per share. As a group, sell-side analysts anticipate that Powell Industries will post 7.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Powell Industries from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 1st.

Insider Transactions at Powell Industries

In other news, major shareholder Thomas W. Powell sold 5,000 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $174.38, for a total transaction of $871,900.00. Following the completion of the transaction, the insider now directly owns 1,688,628 shares in the company, valued at approximately $294,462,950.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, major shareholder Thomas W. Powell sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $174.38, for a total value of $871,900.00. Following the completion of the transaction, the insider now directly owns 1,688,628 shares in the company, valued at approximately $294,462,950.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christopher E. Cragg sold 9,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $155.13, for a total value of $1,396,170.00. Following the completion of the transaction, the director now owns 12,360 shares of the company’s stock, valued at $1,917,406.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,000 shares of company stock worth $4,850,830. 2.20% of the stock is currently owned by company insiders.

About Powell Industries

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.