Amalgamated Bank Sells 72 Shares of Powell Industries, Inc. (NASDAQ:POWL)

Amalgamated Bank trimmed its position in shares of Powell Industries, Inc. (NASDAQ:POWL) by 2.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,742 shares of the industrial products company’s stock after selling 72 shares during the quarter. Amalgamated Bank’s holdings in Powell Industries were worth $609,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Roman Butler Fullerton & Co. purchased a new stake in Powell Industries in the 3rd quarter worth about $608,000. Robeco Institutional Asset Management B.V. bought a new stake in shares of Powell Industries in the third quarter valued at about $446,000. Harbor Capital Advisors Inc. boosted its stake in shares of Powell Industries by 6.9% during the third quarter. Harbor Capital Advisors Inc. now owns 4,604 shares of the industrial products company’s stock valued at $1,022,000 after purchasing an additional 296 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in Powell Industries by 110.5% during the third quarter. Farther Finance Advisors LLC now owns 200 shares of the industrial products company’s stock worth $44,000 after buying an additional 105 shares during the period. Finally, Stephens Investment Management Group LLC bought a new stake in Powell Industries during the 3rd quarter valued at $13,606,000. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Insider Buying and Selling at Powell Industries

In other news, Director James W. Mcgill sold 6,600 shares of the company’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 transaction of $1,226,544.00. Following the completion of the transaction, the director now directly owns 9,660 shares of the company’s stock, valued at $1,795,214.40. This represents a 40.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Thomas W. Powell sold 25,000 shares of the stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $213.56, for a total transaction of $5,339,000.00. Following the transaction, the insider now directly owns 682,265 shares in the company, valued at approximately $145,704,513.40. The trade was a 3.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,600 shares of company stock worth $15,906,386. 2.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

Powell Industries Stock Down 7.3 %

NASDAQ POWL opened at $278.53 on Friday. Powell Industries, Inc. has a 52 week low of $75.05 and a 52 week high of $364.98. The company has a 50 day moving average price of $247.95 and a 200 day moving average price of $191.07. The firm has a market cap of $3.34 billion, a PE ratio of 26.06, a price-to-earnings-growth ratio of 1.82 and a beta of 0.86.

Powell Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, November 20th will be issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date is Wednesday, November 20th. Powell Industries’s dividend payout ratio (DPR) is presently 9.92%.

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.