Acadian Asset Management LLC Grows Stock Position in Powell Industries, Inc. (NASDAQ:POWL)

Acadian Asset Management LLC raised its holdings in Powell Industries, Inc. (NASDAQ:POWLGet Rating) by 12.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 46,337 shares of the industrial products company’s stock after buying an additional 5,149 shares during the quarter. Acadian Asset Management LLC owned about 0.39% of Powell Industries worth $899,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. State of Tennessee Treasury Department raised its stake in Powell Industries by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 3,368 shares of the industrial products company’s stock valued at $65,000 after buying an additional 510 shares during the last quarter. Citigroup Inc. raised its stake in Powell Industries by 13.6% in the first quarter. Citigroup Inc. now owns 9,049 shares of the industrial products company’s stock valued at $176,000 after buying an additional 1,081 shares during the last quarter. HighTower Advisors LLC raised its stake in Powell Industries by 31.6% in the first quarter. HighTower Advisors LLC now owns 10,000 shares of the industrial products company’s stock valued at $194,000 after buying an additional 2,400 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Powell Industries by 2.2% in the first quarter. Bank of New York Mellon Corp now owns 214,114 shares of the industrial products company’s stock valued at $4,159,000 after buying an additional 4,612 shares during the last quarter. Finally, GSA Capital Partners LLP raised its stake in Powell Industries by 20.0% in the fourth quarter. GSA Capital Partners LLP now owns 36,535 shares of the industrial products company’s stock valued at $1,077,000 after buying an additional 6,101 shares during the last quarter. 64.52% of the stock is currently owned by hedge funds and other institutional investors.

Powell Industries Stock Up 3.5 %

Shares of NASDAQ:POWL opened at $23.65 on Thursday. Powell Industries, Inc. has a 52-week low of $18.81 and a 52-week high of $31.81. The stock has a market cap of $278.64 million, a price-to-earnings ratio of 33.79 and a beta of 1.12. The business has a 50-day moving average price of $24.63 and a 200-day moving average price of $23.36.

Powell Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 21st. Investors of record on Wednesday, August 17th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 4.40%. The ex-dividend date is Tuesday, August 16th. Powell Industries’s dividend payout ratio is currently 148.57%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on POWL. StockNews.com cut Powell Industries from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 11th. Sidoti cut Powell Industries from a “buy” rating to a “neutral” rating in a research note on Friday, June 10th.

Powell Industries Profile

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Powell Industries, Inc, together with its subsidiaries, designs, develops, manufactures, sells, and services custom-engineered equipment and systems for the distribution, control, and monitoring of electrical energy. 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, and bus duct systems, as well as traditional and arc-resistant distribution switchgears and control gears.

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Institutional Ownership by Quarter for Powell Industries (NASDAQ:POWL)

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