Otter Tail Corporation $OTTR Shares Sold by Baird Financial Group Inc.

Baird Financial Group Inc. reduced its holdings in Otter Tail Corporation (NASDAQ:OTTR) by 28.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,657 shares of the utilities provider’s stock after selling 1,845 shares during the period. Baird Financial Group Inc.’s holdings in Otter Tail were worth $374,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in OTTR. Stifel Financial Corp boosted its holdings in shares of Otter Tail by 11.4% in the 4th quarter. Stifel Financial Corp now owns 3,389 shares of the utilities provider’s stock valued at $250,000 after acquiring an additional 348 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Otter Tail by 19.5% in the 4th quarter. BNP Paribas Financial Markets now owns 22,151 shares of the utilities provider’s stock valued at $1,636,000 after acquiring an additional 3,618 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Otter Tail by 25.7% in the 4th quarter. Bank of America Corp DE now owns 226,126 shares of the utilities provider’s stock valued at $16,697,000 after acquiring an additional 46,236 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its holdings in shares of Otter Tail by 28.8% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 82,315 shares of the utilities provider’s stock valued at $6,078,000 after acquiring an additional 18,426 shares during the last quarter. Finally, Deutsche Bank AG boosted its holdings in shares of Otter Tail by 22.0% in the 4th quarter. Deutsche Bank AG now owns 37,330 shares of the utilities provider’s stock valued at $2,756,000 after acquiring an additional 6,725 shares during the last quarter. 61.32% of the stock is owned by hedge funds and other institutional investors.

Otter Tail Stock Performance

Shares of NASDAQ OTTR opened at $84.00 on Friday. The company’s fifty day moving average price is $80.75 and its 200 day moving average price is $79.50. Otter Tail Corporation has a 1 year low of $71.66 and a 1 year high of $88.36. The company has a market capitalization of $3.52 billion, a PE ratio of 12.35 and a beta of 0.57. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.57 and a current ratio of 3.31.

Otter Tail (NASDAQ:OTTR) last announced its quarterly earnings results on Monday, August 4th. The utilities provider reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.11. Otter Tail had a net margin of 21.82% and a return on equity of 16.85%. The firm had revenue of $333.04 million for the quarter, compared to the consensus estimate of $329.60 million. During the same period in the prior year, the firm posted $2.07 earnings per share. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year. Otter Tail has set its FY 2025 guidance at 6.060-6.46 EPS. On average, research analysts predict that Otter Tail Corporation will post 5.88 earnings per share for the current year.

Otter Tail Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th were issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Friday, August 15th. Otter Tail’s dividend payout ratio (DPR) is presently 30.88%.

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.