BNP Paribas Arbitrage SA raised its stake in Otter Tail Corp. (NASDAQ:OTTR) by 85.9% during the third quarter, Holdings Channel reports. The fund owned 3,617 shares of the company’s stock after buying an additional 1,671 shares during the period. BNP Paribas Arbitrage SA’s holdings in Otter Tail Corp. were worth $125,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of OTTR. Eqis Capital Management Inc. acquired a new stake in Otter Tail Corp. during the third quarter valued at approximately $317,000. Royal Bank of Canada increased its stake in Otter Tail Corp. by 15.7% in the second quarter. Royal Bank of Canada now owns 7,294 shares of the company’s stock valued at $244,000 after buying an additional 990 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of Otter Tail Corp. by 0.6% in the second quarter. Public Employees Retirement System of Ohio now owns 3,619 shares of the company’s stock worth $121,000 after buying an additional 22 shares during the last quarter. Sterling Capital Management LLC purchased a new stake in shares of Otter Tail Corp. during the second quarter worth about $545,000. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of Otter Tail Corp. by 2.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 210,082 shares of the company’s stock worth $7,036,000 after buying an additional 4,913 shares during the last quarter. 35.94% of the stock is owned by institutional investors.
Shares of Otter Tail Corp. (NASDAQ:OTTR) opened at 33.78 on Friday. The company has a market capitalization of $1.31 billion, a P/E ratio of 21.26 and a beta of 0.67. Otter Tail Corp. has a 12 month low of $25.20 and a 12 month high of $36.42. The firm has a 50-day moving average of $34.64 and a 200-day moving average of $32.30.
Otter Tail Corp. (NASDAQ:OTTR) last announced its quarterly earnings results on Monday, August 8th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.03. The business had revenue of $203.50 million for the quarter, compared to analyst estimates of $194 million. Otter Tail Corp. had a net margin of 7.53% and a return on equity of 9.98%. The company’s revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.36 EPS. On average, equities analysts predict that Otter Tail Corp. will post $1.60 earnings per share for the current year.
Separately, Zacks Investment Research downgraded shares of Otter Tail Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, September 20th.
In other Otter Tail Corp. news, CFO Kevin G. Moug sold 800 shares of the firm’s stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $34.07, for a total value of $27,256.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Paul L. Knutson sold 1,700 shares of the firm’s stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $34.50, for a total transaction of $58,650.00. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.
About Otter Tail Corp.
Otter Tail Corporation is a holding company. The Company, through its subsidiaries, operates through three segments: Electric, Manufacturing and Plastics. The Company’s subsidiaries own facilities and equipment used in the manufacture of producing polyvinyl chloride (PVC) pipe, thermoformed products, heavy metal fabricated products, metal parts stamping, fabricating, painting and contract machining.
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