Powell Industries, Inc. (NASDAQ:POWL) Declares $0.27 Quarterly Dividend

Powell Industries, Inc. (NASDAQ:POWL) announced a quarterly dividend on Tuesday, November 5th, Zacks reports. Investors of record on Wednesday, November 20th will be paid a dividend of 0.265 per share by the industrial products company on Wednesday, December 18th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date is Wednesday, November 20th.

Powell Industries has increased its dividend payment by an average of 0.3% annually over the last three years. Powell Industries has a payout ratio of 8.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Powell Industries to earn $12.44 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 8.5%.

Powell Industries Stock Down 2.1 %

Shares of NASDAQ:POWL traded down $7.16 during midday trading on Thursday, reaching $340.61. 49,723 shares of the company were exchanged, compared to its average volume of 367,862. Powell Industries has a fifty-two week low of $75.05 and a fifty-two week high of $350.48. The stock has a fifty day simple moving average of $224.48 and a two-hundred day simple moving average of $182.60. The firm has a market cap of $4.08 billion, a PE ratio of 32.53, a P/E/G ratio of 1.54 and a beta of 0.86.

Insider Buying and Selling at Powell Industries

In other news, CEO Brett Alan Cope sold 2,750 shares of Powell Industries stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $162.42, for a total value of $446,655.00. Following the completion of the transaction, the chief executive officer now owns 145,987 shares of the company’s stock, valued at $23,711,208.54. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director James W. Mcgill sold 6,600 shares of Powell Industries stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $185.84, for a total transaction of $1,226,544.00. Following the completion of the sale, the director now owns 9,660 shares of the company’s stock, valued at approximately $1,795,214.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Brett Alan Cope sold 2,750 shares of Powell Industries stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $162.42, for a total transaction of $446,655.00. Following the sale, the chief executive officer now directly owns 145,987 shares of the company’s stock, valued at $23,711,208.54. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 64,350 shares of company stock worth $14,614,341. Insiders own 2.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Powell Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, October 23rd.

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.