Strs Ohio Cuts Position in Otter Tail Co. (NASDAQ:OTTR)

Strs Ohio lessened its holdings in Otter Tail Co. (NASDAQ:OTTRGet Rating) by 3.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,200 shares of the utilities provider’s stock after selling 700 shares during the period. Strs Ohio’s holdings in Otter Tail were worth $1,058,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Sawtooth Solutions LLC purchased a new stake in Otter Tail during the 2nd quarter worth approximately $252,000. Victory Capital Management Inc. grew its position in shares of Otter Tail by 12.8% in the second 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Otter Tail in the second quarter valued at approximately $817,000. Dupont Capital Management Corp purchased a new stake in shares of Otter Tail in the second quarter valued at approximately $157,000. Finally, Envestnet Asset Management Inc. grew its position in shares of Otter Tail by 40.4% in the second quarter. Envestnet Asset Management Inc. now owns 17,130 shares of the utilities provider’s stock valued at $1,150,000 after purchasing an additional 4,925 shares in the last quarter. Hedge funds and other institutional investors own 49.01% of the company’s stock.

Otter Tail Trading Down 0.2 %

OTTR opened at $62.99 on Friday. Otter Tail Co. has a one year low of $52.60 and a one year high of $82.46. The stock has a market capitalization of $2.62 billion, a PE ratio of 8.99 and a beta of 0.50. The business’s 50 day moving average price is $58.16 and its 200 day moving average price is $65.67. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.30 and a current ratio of 1.90.

Otter Tail (NASDAQ:OTTRGet Rating) last released its quarterly earnings data on Monday, October 31st. The utilities provider reported $2.01 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.31. Otter Tail had a return on equity of 27.09% and a net margin of 19.69%. The firm had revenue of $383.86 million for the quarter, compared to analysts’ expectations of $389.30 million. As a group, equities research analysts expect that Otter Tail Co. will post 6.6 EPS for the current year.

Otter Tail Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 9th. Shareholders of record on Tuesday, November 15th were paid a dividend of $0.412 per share. This represents a $1.65 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend was Monday, November 14th. Otter Tail’s dividend payout ratio (DPR) is 23.54%.

Insiders Place Their Bets

In other Otter Tail 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 transaction, the director now directly owns 3,633 shares in the company, valued at $204,574.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

OTTR has been the subject of a number of analyst reports. Maxim Group dropped their price target on Otter Tail from $95.00 to $75.00 in a research report on Wednesday, November 2nd. StockNews.com lowered Otter Tail from a “buy” rating to a “hold” rating in a research report on Monday, October 31st. Finally, Siebert Williams Shank upgraded Otter Tail from a “sell” rating to a “hold” rating and set a $63.00 price target for the company in a research report on Monday, November 28th.

About Otter Tail

(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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