Otter Tail Corporation $OTTR Shares Sold by Cwm LLC

Cwm LLC lowered its stake in Otter Tail Corporation (NASDAQ:OTTR) by 2.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,418 shares of the utilities provider’s stock after selling 289 shares during the period. Cwm LLC’s holdings in Otter Tail were worth $803,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in OTTR. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Otter Tail by 2.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 17,878 shares of the utilities provider’s stock worth $1,437,000 after buying an additional 375 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new position in shares of Otter Tail in the first quarter worth $662,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Otter Tail by 51.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 10,838 shares of the utilities provider’s stock worth $881,000 after buying an additional 3,685 shares during the last quarter. Goodman Advisory Group LLC purchased a new position in shares of Otter Tail in the first quarter worth $54,000. Finally, Monument Capital Management purchased a new position in shares of Otter Tail in the first quarter worth $216,000. Hedge funds and other institutional investors own 61.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on OTTR. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Otter Tail in a report on Wednesday, October 8th. Zacks Research raised shares of Otter Tail to a “hold” rating in a report on Friday, October 17th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $83.00.

Otter Tail Stock Up 0.0%

OTTR stock opened at $78.23 on Thursday. The firm has a market cap of $3.28 billion, a PE ratio of 11.50 and a beta of 0.54. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.57 and a current ratio of 3.31. The firm’s fifty day moving average is $81.67 and its 200 day moving average is $79.34. Otter Tail Corporation has a one year low of $71.66 and a one year high of $88.36.

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

Otter Tail Announces Dividend

The company also recently declared 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 annualized dividend and a yield of 2.7%. The ex-dividend date was Friday, August 15th. Otter Tail’s dividend payout ratio (DPR) is currently 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.