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

Powell Industries, Inc. (NASDAQ:POWL) announced a quarterly dividend on Tuesday, November 5th,Zacks Dividends reports. Shareholders of record on Wednesday, November 20th will be given 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 yield of 0.37%. The ex-dividend date is Wednesday, November 20th.

Powell Industries has raised its dividend payment by an average of 0.3% annually over the last three years. Powell Industries has a dividend payout ratio of 8.6% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Up 3.8 %

POWL opened at $289.01 on Tuesday. The stock’s 50 day moving average price is $250.62 and its two-hundred day moving average price is $192.46. Powell Industries has a 12-month low of $75.05 and a 12-month high of $364.98. The firm has a market capitalization of $3.47 billion, a P/E ratio of 27.04, a price-to-earnings-growth ratio of 1.60 and a beta of 0.86.

Insider Buying and Selling

In related news, major shareholder Thomas W. Powell sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $347.74, for a total transaction of $1,738,700.00. Following the completion of the transaction, the insider now owns 677,265 shares in the company, valued at $235,512,131.10. This trade represents a 0.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James W. Mcgill sold 6,600 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $185.84, for a total value of $1,226,544.00. Following the transaction, the director now owns 9,660 shares of the company’s stock, valued at $1,795,214.40. This trade represents a 40.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,600 shares of company stock worth $15,906,386 in the last 90 days. 2.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Powell Industries from a “hold” rating to a “buy” rating in a research report on Friday.

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.