International Assets Investment Management LLC Acquires 74,212 Shares of Otter Tail Co. (NASDAQ:OTTR)

International Assets Investment Management LLC raised its holdings in shares of Otter Tail Co. (NASDAQ:OTTR) by 3,339.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,434 shares of the utilities provider’s stock after purchasing an additional 74,212 shares during the quarter. International Assets Investment Management LLC owned 0.18% of Otter Tail worth $5,974,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Atticus Wealth Management LLC bought a new stake in shares of Otter Tail in the 2nd quarter worth $33,000. Hoese & Co LLP bought a new stake in shares of Otter Tail in the 3rd quarter worth $39,000. GAMMA Investing LLC grew its stake in shares of Otter Tail by 46.3% in the 2nd quarter. GAMMA Investing LLC now owns 657 shares of the utilities provider’s stock worth $58,000 after acquiring an additional 208 shares in the last quarter. Quarry LP grew its stake in shares of Otter Tail by 1,811.4% in the 2nd quarter. Quarry LP now owns 669 shares of the utilities provider’s stock worth $59,000 after acquiring an additional 634 shares in the last quarter. Finally, Mather Group LLC. bought a new stake in shares of Otter Tail in the 2nd quarter worth $77,000. Institutional investors own 61.32% of the company’s stock.

Insider Activity at Otter Tail

In related news, VP Jennifer O. Smestad sold 4,000 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $88.74, for a total transaction of $354,960.00. Following the completion of the transaction, the vice president now owns 12,300 shares in the company, valued at approximately $1,091,502. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.30% of the stock is owned by company insiders.

Otter Tail Stock Performance

NASDAQ OTTR opened at $78.52 on Friday. Otter Tail Co. has a 1 year low of $74.09 and a 1 year high of $100.84. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.27 and a quick ratio of 1.67. The firm has a market cap of $3.28 billion, a price-to-earnings ratio of 10.61 and a beta of 0.53. The company has a fifty day moving average price of $79.53 and a 200-day moving average price of $85.78.

Otter Tail (NASDAQ:OTTR) last posted its quarterly earnings results on Monday, August 5th. The utilities provider reported $2.07 earnings per share for the quarter, beating the consensus estimate of $1.69 by $0.38. The company had revenue of $342.34 million during the quarter, compared to analyst estimates of $367.71 million. Otter Tail had a net margin of 22.84% and a return on equity of 21.06%. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.95 earnings per share. As a group, equities research analysts predict that Otter Tail Co. will post 7.01 EPS for the current fiscal year.

Otter Tail Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were given a dividend of $0.468 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.87 annualized dividend and a yield of 2.38%. Otter Tail’s payout ratio is currently 25.27%.

About Otter Tail

Otter Tail Corporation, together with its subsidiaries, engages in electric utility, manufacturing, and plastic pipe businesses in the United States. It operates through three segments: Electric, Manufacturing, and Plastics. The 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 markets.