Farther Finance Advisors LLC Sells 935 Shares of Otter Tail Corporation $OTTR

Farther Finance Advisors LLC lowered its holdings in Otter Tail Corporation (NASDAQ:OTTR) by 35.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,729 shares of the utilities provider’s stock after selling 935 shares during the period. Farther Finance Advisors LLC’s holdings in Otter Tail were worth $133,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Byrne Asset Management LLC boosted its holdings in Otter Tail by 54.8% in the 1st quarter. Byrne Asset Management LLC now owns 387 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 137 shares during the period. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of Otter Tail during the 1st quarter worth approximately $34,000. Goodman Advisory Group LLC bought a new stake in shares of Otter Tail during the 1st quarter worth approximately $54,000. Costello Asset Management INC bought a new stake in shares of Otter Tail during the 1st quarter worth approximately $66,000. Finally, USA Financial Formulas lifted its holdings in shares of Otter Tail by 53.5% during the 1st quarter. USA Financial Formulas now owns 1,202 shares of the utilities provider’s stock worth $97,000 after acquiring an additional 419 shares during the period. Institutional investors own 61.32% of the company’s stock.

Otter Tail Stock Performance

Shares of Otter Tail stock opened at $79.66 on Friday. The company has a 50 day moving average of $82.06 and a 200-day moving average of $79.66. Otter Tail Corporation has a 1-year low of $71.66 and a 1-year high of $88.36. The company has a current ratio of 3.31, a quick ratio of 2.57 and a debt-to-equity ratio of 0.59. The company has a market cap of $3.34 billion, a PE ratio of 11.71 and a beta of 0.54.

Otter Tail (NASDAQ:OTTR) last issued its quarterly earnings results on Monday, August 4th. The utilities provider reported $1.85 earnings per share 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 company had revenue of $333.04 million during the quarter, compared to the consensus estimate of $329.60 million. During the same quarter in the prior year, the firm posted $2.07 EPS. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. Otter Tail has set its FY 2025 guidance at 6.060-6.46 EPS. As a group, equities research analysts forecast that Otter Tail Corporation will post 5.88 earnings per share for the current fiscal year.

Otter Tail Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Friday, August 15th. Otter Tail’s dividend payout ratio is currently 30.88%.

Otter Tail Profile

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.