Powell Industries (NASDAQ:POWL) issued its quarterly earnings results on Tuesday. The industrial products company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.02), Bloomberg Earnings reports. The company had revenue of $134.90 million during the quarter, compared to analyst estimates of $128.90 million. Powell Industries had a negative net margin of 1.59% and a negative return on equity of 2.13%. The company’s quarterly revenue was up 42.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.42) EPS.
POWL stock opened at $25.75 on Thursday. Powell Industries has a twelve month low of $25.02 and a twelve month high of $41.42.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 19th. Shareholders of record on Wednesday, November 21st will be paid a $0.26 dividend. The ex-dividend date is Tuesday, November 20th. This represents a $1.04 dividend on an annualized basis and a yield of 4.04%.
Several hedge funds have recently bought and sold shares of POWL. Nisa Investment Advisors LLC lifted its holdings in shares of Powell Industries by 190.0% in the third quarter. Nisa Investment Advisors LLC now owns 2,900 shares of the industrial products company’s stock valued at $105,000 after purchasing an additional 1,900 shares in the last quarter. Acadian Asset Management LLC bought a new stake in Powell Industries during the third quarter worth $122,000. SG Americas Securities LLC bought a new stake in Powell Industries during the second quarter worth $143,000. RBF Capital LLC bought a new stake in Powell Industries during the third quarter worth $232,000. Finally, MetLife Investment Advisors LLC lifted its holdings in Powell Industries by 57.2% during the third quarter. MetLife Investment Advisors LLC now owns 6,925 shares of the industrial products company’s stock worth $251,000 after acquiring an additional 2,521 shares during the period. Institutional investors own 65.27% of the company’s stock.
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Powell Industries Company Profile
Powell Industries, Inc, together with its subsidiaries, designs, develops, manufactures, sells, and services custom-engineered equipment and systems for the distribution, control, and monitoring of electrical energy. 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, and bus duct systems, as well as traditional and arc-resistant distribution switchgears and control gears.
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