Morgan Dempsey Capital Management LLC reduced its stake in shares of Powell Industries, Inc. (NASDAQ:POWL) by 2.1% during the second quarter, Holdings Channel reports. The fund owned 24,987 shares of the industrial products company’s stock after selling 527 shares during the period. Morgan Dempsey Capital Management LLC’s holdings in Powell Industries were worth $799,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of POWL. Texas Permanent School Fund increased its stake in Powell Industries by 1.0% in the second quarter. Texas Permanent School Fund now owns 6,258 shares of the industrial products company’s stock valued at $200,000 after buying an additional 61 shares during the last quarter. Bessemer Group Inc. increased its stake in Powell Industries by 7.9% in the second quarter. Bessemer Group Inc. now owns 8,200 shares of the industrial products company’s stock valued at $262,000 after buying an additional 600 shares during the last quarter. US Bancorp DE increased its stake in Powell Industries by 0.3% in the first quarter. US Bancorp DE now owns 8,067 shares of the industrial products company’s stock valued at $278,000 after buying an additional 28 shares during the last quarter. State of Tennessee Treasury Department increased its stake in Powell Industries by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 8,685 shares of the industrial products company’s stock valued at $299,000 after buying an additional 1,311 shares during the last quarter. Finally, Comerica Bank increased its stake in Powell Industries by 3.2% in the first quarter. Comerica Bank now owns 9,434 shares of the industrial products company’s stock valued at $334,000 after buying an additional 296 shares during the last quarter. 63.99% of the stock is owned by institutional investors and hedge funds.

Shares of Powell Industries, Inc. (NASDAQ:POWL) opened at 32.08 on Thursday. The stock has a market capitalization of $366.61 million, a P/E ratio of 39.60 and a beta of 0.83. Powell Industries, Inc. has a 12-month low of $30.49 and a 12-month high of $47.24. The stock has a 50 day moving average price of $32.52 and a 200 day moving average price of $33.69.

Powell Industries (NASDAQ:POWL) last issued its quarterly earnings results on Tuesday, August 8th. The industrial products company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.06) by $0.22. Powell Industries had a return on equity of 0.71% and a net margin of 0.27%. The company had revenue of $85.90 million for the quarter, compared to the consensus estimate of $104.45 million. During the same period in the previous year, the business posted $0.47 EPS. The business’s revenue for the quarter was down 35.5% on a year-over-year basis. On average, equities analysts anticipate that Powell Industries, Inc. will post ($0.37) earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 13th. Stockholders of record on Wednesday, August 23rd will be given a dividend of $0.26 per share. The ex-dividend date is Monday, August 21st. This represents a $1.04 annualized dividend and a dividend yield of 3.24%. Powell Industries’s payout ratio is 1,040.10%.

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Separately, BidaskClub raised Powell Industries from a “strong sell” rating to a “sell” rating in a report on Tuesday, July 25th.

About Powell Industries

Powell Industries, Inc develops design, manufactures and services custom-engineered equipment and systems for the distribution, control and monitoring of electrical energy designed to distribute, control and monitor the flow of electrical energy, and provide protection to motors, transformers and other electrically powered equipment.

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

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