MetLife Investment Management LLC Lowers Holdings in Powell Industries, Inc. $POWL

MetLife Investment Management LLC decreased its holdings in Powell Industries, Inc. (NASDAQ:POWL) by 1.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,517 shares of the industrial products company’s stock after selling 92 shares during the quarter. MetLife Investment Management LLC’s holdings in Powell Industries were worth $940,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in POWL. Demars Financial Group LLC purchased a new stake in Powell Industries in the 1st quarter valued at about $58,692,000. GW&K Investment Management LLC purchased a new stake in Powell Industries in the 1st quarter valued at about $27,984,000. RPG Investment Advisory LLC grew its holdings in 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 valued at $26,252,000 after buying an additional 119,289 shares during the period. GAMMA Investing LLC grew its holdings in Powell Industries by 22,009.7% in the 1st quarter. GAMMA Investing LLC now owns 102,368 shares of the industrial products company’s stock valued at $17,436,000 after buying an additional 101,905 shares during the period. Finally, HITE Hedge Asset Management LLC purchased a new stake in Powell Industries in the 1st quarter valued at about $16,405,000. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Powell Industries Price Performance

POWL opened at $268.24 on Friday. The stock has a market capitalization of $3.24 billion, a price-to-earnings ratio of 18.63, a price-to-earnings-growth ratio of 1.34 and a beta of 0.85. The business has a 50-day moving average of $240.09 and a two-hundred day moving average of $199.49. Powell Industries, Inc. has a 12 month low of $146.02 and a 12 month high of $364.98.

Powell Industries (NASDAQ:POWL) last issued its earnings results on Tuesday, August 5th. The industrial products company reported $3.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.73 by $0.23. Powell Industries had a return on equity of 33.16% and a net margin of 16.22%.The business had revenue of $286.27 million during the quarter, compared to analysts’ expectations of $301.69 million. During the same quarter in the previous year, the business earned $3.79 EPS. The company’s revenue for the quarter was down .7% on a year-over-year basis. Equities research analysts anticipate that Powell Industries, Inc. will post 13.71 earnings per share for the current year.

Powell Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, August 20th will be issued a dividend of $0.2675 per share. The ex-dividend date is Wednesday, August 20th. This represents a $1.07 dividend on an annualized basis and a dividend yield of 0.4%. Powell Industries’s payout ratio is presently 7.43%.

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 transaction of $780,090.00. Following the completion of the sale, the director owned 6,700 shares in the company, valued at approximately $1,742,201. The trade was a 30.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael William Metcalf sold 3,921 shares of the business’s stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $210.55, for a total value of $825,566.55. Following the sale, the executive vice president owned 28,900 shares of the company’s stock, valued at $6,084,895. The trade was a 11.95% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,308 shares of company stock worth $4,354,845. 2.20% of the stock is currently owned by company insiders.

Powell Industries 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.