Powell Industries, Inc. (NASDAQ: POWL-Get Rating) saw a significant reduction in the number of its shares that were sold short during August. There were 248,700 shares available for a short sale on August 15, but as of August 31, there were only 199,700 shares available for sale. This is a fall of 19.7% from August 15. The current short-interest ratio is 6.2 days, which can be calculated based on the fact that the stock market sees an average daily trading volume of 32,100 shares. At any given time, around 2.2% of the total shares issued by the corporation are held in short positions. There have been a great number of stock research analysts that have discussed the company and supplied their thoughts. Sidoti dropped their recommendation of Powell Industries from “buy” to “neutral” in a research note published on Friday, June 10, meaning they no longer recommend purchasing the company’s shares.
The report was issued on Powell Industries. On the trading day of Thursday, August 11, a “buy” recommendation for Powell Industries was dropped to a “strong-buy” rating by StockNews.com. Previously, the rating had been “buy.” In recent years, several hedge funds and institutional investors have made adjustments to the holdings of POWL that they have in their respective portfolios. During the first three months of 2018, the Tennessee Treasury Department purchased an additional 17.8 percent of Powell Industries shares. The State of Tennessee Treasury Department now has a total of 3,368 shares in the industrial goods company after purchasing an additional 510 shares during the most recent quarter for a total of 3,368. These shares are currently worth $65,000, which is their market value. During the second quarter of the fiscal year, Gladius Capital Management LP made a financial investment in Powell Industries for $76,000.
In addition, Amalgamated Bank made a financial commitment to Powell Industries for $78,000 for the year’s first three months. During the first quarter of the fiscal year, Citigroup Inc. boosted its holdings in Powell Industries by 13.6%. The stock of the industrial goods firm is now owned by Citigroup Inc. in the amount of 9,049 shares, following the acquisition of an additional 1,081 shares during the most recent fiscal quarter. The value of Citigroup Inc.’s holdings in this stock comes to $176,000. Not to be outdone, Powell Industries contributed to a 31.6% increase in the value of the holdings made by HighTower Advisors LLC during the first quarter of the year. HighTower Advisors LLC now holds a total of 10,000 shares of the industrial products company’s stock, which is currently valued at $194,000 following the acquisition of an additional 2,400 shares during the most recent quarter. Institutional investors own approximately 64.52% of the corporation’s total number of shares outstanding. On Thursday, the NASDAQ: POWL stock began trading for the first time with an opening price of $23.47.
During the previous year, Powell Industries traded for as little as $18.81 per share, while its price had reached as high as $31.81 per share. The company’s market capitalization is $276.48 million, and its price-to-earnings ratio is 33.53. Additionally, its beta value is 1.12. The company’s moving averages for the last fifty days and the previous two hundred days are $24.68 and $23.42, respectively. In addition, the company has decided to distribute a quarterly dividend, which will take place on September 21 of this year. Shareholders on record will be eligible to receive a dividend payment on August 17 at $0.26. August 16 is the last day that dividends will be handed out before they are discontinued. This equates to an annual dividend payment of $1.04 and a dividend yield of 4.43% for the investment. Powell Industries has reached a payout ratio of 148.57 percent at present. Powell Industries, Inc. and its affiliates are responsible for the design, development, construction, distribution, and maintenance of the systems and equipment used to control, distribute, and monitor electric power. These responsibilities include designing the systems and equipment used to control, distribute, and monitor electric power.
The primary products and services provided by the business are as follows: conventional and arc-resistant distribution switchgear and control gear; 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 system integration. In addition, the company is in the business of designing and manufacturing electrical homes.