John G Ullman & Associates Inc. decreased its position in Otter Tail Corporation (NASDAQ:OTTR) by 7.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,850 shares of the utilities provider’s stock after selling 1,700 shares during the period. John G Ullman & Associates Inc. owned about 0.05% of Otter Tail Corporation worth $826,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in OTTR. North Star Investment Management Corp. raised its stake in shares of Otter Tail Corporation by 91.9% in the second quarter. North Star Investment Management Corp. now owns 2,905 shares of the utilities provider’s stock valued at $115,000 after buying an additional 1,391 shares during the period. Ameritas Investment Partners Inc. purchased a new stake in shares of Otter Tail Corporation during the first quarter valued at $119,000. Sei Investments Co. raised its stake in shares of Otter Tail Corporation by 8.3% in the first quarter. Sei Investments Co. now owns 3,574 shares of the utilities provider’s stock valued at $136,000 after buying an additional 274 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Otter Tail Corporation during the first quarter valued at $213,000. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in shares of Otter Tail Corporation during the first quarter valued at $214,000. Institutional investors own 39.37% of the company’s stock.
Shares of Otter Tail Corporation (OTTR) opened at 41.45 on Friday. The firm has a 50 day moving average price of $40.34 and a 200-day moving average price of $39.03. Otter Tail Corporation has a 12 month low of $33.08 and a 12 month high of $42.55. The company has a market cap of $1.64 billion, a P/E ratio of 23.86 and a beta of 0.78.
Otter Tail Corporation (NASDAQ:OTTR) last posted its quarterly earnings data on Monday, August 7th. The utilities provider reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.01. Otter Tail Corporation had a net margin of 8.35% and a return on equity of 10.14%. The company had revenue of $212.10 million during the quarter, compared to the consensus estimate of $211.30 million. During the same period in the previous year, the firm posted $0.41 EPS. The firm’s revenue was up 4.2% compared to the same quarter last year. Analysts anticipate that Otter Tail Corporation will post $1.75 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, September 9th. Stockholders of record on Tuesday, August 15th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date is Friday, August 11th. Otter Tail Corporation’s dividend payout ratio is currently 74.42%.
Several equities research analysts have recently commented on OTTR shares. BidaskClub raised Otter Tail Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. Zacks Investment Research upgraded Otter Tail Corporation from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a research note on Tuesday.
In other Otter Tail Corporation news, CFO Kevin G. Moug sold 1,500 shares of the business’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $41.75, for a total value of $62,625.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.40% of the company’s stock.
Otter Tail Corporation Company Profile
Otter Tail Corporation is a holding company. The Company operates through three segments: Electric, Manufacturing and Plastics. The Electric segment includes the production, transmission, distribution and sale of electric energy in Minnesota, North Dakota and South Dakota by Otter Tail Power Company (OTP).
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