Swiss National Bank Sells 10,000 Shares of Otter Tail Co. (NASDAQ:OTTR)

Swiss National Bank cut its position in Otter Tail Co. (NASDAQ:OTTRGet Rating) by 10.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 88,200 shares of the utilities provider’s stock after selling 10,000 shares during the quarter. Swiss National Bank owned about 0.21% of Otter Tail worth $5,921,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Sawtooth Solutions LLC bought a new stake in Otter Tail in the 2nd quarter valued at $252,000. Victory Capital Management Inc. boosted its stake in Otter Tail by 12.8% in the 2nd quarter. Victory Capital Management Inc. now owns 292,101 shares of the utilities provider’s stock valued at $19,609,000 after purchasing an additional 33,137 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in Otter Tail in the 2nd quarter valued at $817,000. Cornercap Investment Counsel Inc. bought a new stake in Otter Tail in the 1st quarter valued at $1,216,000. Finally, Dupont Capital Management Corp bought a new stake in Otter Tail in the 2nd quarter valued at $157,000. 48.13% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director John D. Erickson sold 2,000 shares of the company’s stock in a transaction on Monday, November 21st. The stock was sold at an average price of $56.31, for a total transaction of $112,620.00. Following the completion of the sale, the director now directly owns 3,633 shares in the company, valued at approximately $204,574.23. The sale was disclosed in a filing with the SEC, which is available through this link. 2.00% of the stock is owned by corporate insiders.

Otter Tail Price Performance

Shares of OTTR stock opened at $57.79 on Thursday. The company has a quick ratio of 1.30, a current ratio of 1.90 and a debt-to-equity ratio of 0.70. Otter Tail Co. has a twelve month low of $52.60 and a twelve month high of $82.46. The company has a market cap of $2.41 billion, a P/E ratio of 8.24 and a beta of 0.54. The business has a fifty day simple moving average of $62.09 and a 200 day simple moving average of $67.02.

Otter Tail Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 9th. Investors of record on Tuesday, November 15th will be given a dividend of $0.412 per share. The ex-dividend date of this dividend is Monday, November 14th. This represents a $1.65 annualized dividend and a dividend yield of 2.85%. Otter Tail’s dividend payout ratio is currently 23.54%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on OTTR shares. StockNews.com downgraded Otter Tail from a “buy” rating to a “hold” rating in a research report on Monday, October 31st. Maxim Group cut their target price on Otter Tail from $95.00 to $75.00 in a research report on Wednesday, November 2nd. Finally, Siebert Williams Shank downgraded Otter Tail from a “hold” rating to a “sell” rating and upped their target price for the company from $62.00 to $64.00 in a research report on Wednesday, August 3rd.

Otter Tail Company Profile

(Get Rating)

Otter Tail Corporation, together with its subsidiaries, engages in electric utility, manufacturing, and plastic pipe businesses in the United States. The company's Electric segment produces, transmits, distributes, and sells electric energy in Minnesota, North Dakota, and South Dakota; and operates as a participant in the Midcontinent Independent System Operator, Inc markets.

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Institutional Ownership by Quarter for Otter Tail (NASDAQ:OTTR)

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