According to Zacks, “OTTER TAIL’s primary business is the production, transmission, distribution and sale of electric energy. The Company, through its subsidiaries, is also engaged in other businesses which are referred to as Health Services Operations and Diversified Operations. “
Shares of Otter Tail Corp. (NASDAQ:OTTR) opened at 36.36 on Tuesday. Otter Tail Corp. has a 52 week low of $25.20 and a 52 week high of $36.42. The stock has a market cap of $1.41 billion, a P/E ratio of 22.88 and a beta of 0.76. The stock has a 50 day moving average of $34.66 and a 200 day moving average of $31.66.
Otter Tail Corp. (NASDAQ:OTTR) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.38 by $0.03. The company earned $203.50 million during 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 firm’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.36 EPS. On average, analysts expect that Otter Tail Corp. will post $1.60 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Saturday, September 10th. Investors of record on Monday, August 15th were issued a $0.3125 dividend. This represents a $1.25 annualized dividend and a yield of 3.44%. The ex-dividend date of this dividend was Thursday, August 11th. Otter Tail Corp.’s payout ratio is presently 78.62%.
In other Otter Tail Corp. news, VP Paul L. Knutson sold 1,700 shares of Otter Tail Corp. stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $34.50, for a total transaction of $58,650.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Kevin G. Moug sold 800 shares of Otter Tail Corp. stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $34.07, for a total transaction of $27,256.00. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the company. Emerald Acquisition Ltd. acquired a new stake in shares of Otter Tail Corp. during the second quarter valued at about $171,000. California State Teachers Retirement System boosted its stake in shares of Otter Tail Corp. by 0.3% in the second quarter. California State Teachers Retirement System now owns 79,637 shares of the company’s stock valued at $2,667,000 after buying an additional 201 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Otter Tail Corp. by 4.4% in the second quarter. Bank of New York Mellon Corp now owns 359,428 shares of the company’s stock valued at $12,038,000 after buying an additional 15,247 shares during the period. Whittier Trust Co. boosted its stake in shares of Otter Tail Corp. by 1.2% in the second quarter. Whittier Trust Co. now owns 27,875 shares of the company’s stock valued at $933,000 after buying an additional 338 shares during the period. Finally, North Point Portfolio Managers Corp OH acquired a new stake in shares of Otter Tail Corp. during the second quarter valued at about $204,000. 35.92% of the stock is currently owned by institutional investors.
Otter Tail Corp. Company Profile
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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