Alliancebernstein L.P. purchased a new stake in Powell Industries, Inc. (NASDAQ:POWL) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 6,400 shares of the industrial products company’s stock, valued at approximately $205,000. Alliancebernstein L.P. owned about 0.06% of Powell Industries at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its stake in Powell Industries by 6.7% in the first quarter. Dimensional Fund Advisors LP now owns 727,897 shares of the industrial products company’s stock valued at $25,068,000 after acquiring an additional 45,623 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Powell Industries by 8.8% in the first quarter. Vanguard Group Inc. now owns 459,633 shares of the industrial products company’s stock valued at $15,829,000 after purchasing an additional 37,129 shares during the period. Heartland Advisors Inc. raised its position in shares of Powell Industries by 93.4% in the second quarter. Heartland Advisors Inc. now owns 299,501 shares of the industrial products company’s stock valued at $9,581,000 after purchasing an additional 144,653 shares during the period. Renaissance Technologies LLC raised its position in shares of Powell Industries by 10.0% in the first quarter. Renaissance Technologies LLC now owns 265,300 shares of the industrial products company’s stock valued at $9,137,000 after purchasing an additional 24,200 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Powell Industries by 15.0% in the first quarter. Geode Capital Management LLC now owns 81,445 shares of the industrial products company’s stock valued at $2,804,000 after purchasing an additional 10,646 shares during the period. Hedge funds and other institutional investors own 64.59% of the company’s stock.

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Powell Industries, Inc. (NASDAQ:POWL) opened at $27.69 on Tuesday. The firm has a market cap of $317.60, a PE ratio of 132.33 and a beta of 0.86. Powell Industries, Inc. has a 1 year low of $26.76 and a 1 year high of $47.24.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 13th. Stockholders of record on Tuesday, November 21st will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 3.76%. The ex-dividend date is Monday, November 20th. Powell Industries’s payout ratio is presently 1,040.10%.

Separately, BidaskClub lowered shares of Powell Industries from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 2nd.

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.

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

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