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

Amalgamated Bank lowered its holdings in Powell Industries, Inc. (NASDAQ:POWL) by 2.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. 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 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in POWL. Texas Permanent School Fund Corp lifted its position in shares of Powell Industries by 2.2% in the 1st quarter. Texas Permanent School Fund Corp now owns 8,065 shares of the industrial products company’s stock worth $1,148,000 after purchasing an additional 175 shares during the period. Swiss National Bank boosted its position in Powell Industries by 1.1% during the 1st quarter. Swiss National Bank now owns 18,900 shares of the industrial products company’s stock valued at $2,689,000 after acquiring an additional 200 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Powell Industries by 8.7% during the 1st quarter. Russell Investments Group Ltd. now owns 22,190 shares of the industrial products company’s stock worth $3,158,000 after acquiring an additional 1,770 shares during the period. Avantax Advisory Services Inc. purchased a new position in shares of Powell Industries during the 1st quarter worth approximately $321,000. Finally, ProShare Advisors LLC bought a new position in shares of Powell Industries in the 1st quarter worth approximately $266,000. 89.77% of the stock is currently owned by institutional investors.

Insider Activity at Powell Industries

In related news, major shareholder Thomas W. Powell sold 10,000 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $246.14, for a total value of $2,461,400.00. Following the transaction, the insider now directly owns 1,658,328 shares of the company’s stock, valued at approximately $408,180,853.92. This trade represents a 0.60 % 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, Director James W. Mcgill sold 6,600 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were 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 approximately $1,795,214.40. This trade represents a 40.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,600 shares of company stock worth $15,906,386 over the last quarter. Company insiders own 2.20% of the company’s stock.

Analyst Ratings Changes

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

Powell Industries Stock Down 7.3 %

Shares of POWL opened at $278.53 on Friday. The company has a market capitalization of $3.34 billion, a P/E ratio of 26.06, a price-to-earnings-growth ratio of 1.82 and a beta of 0.86. Powell Industries, Inc. has a twelve month low of $75.05 and a twelve month high of $364.98. The firm has a 50 day moving average of $247.95 and a 200 day moving average of $191.07.

Powell Industries Dividend Announcement

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