Whittier Trust Co. boosted its position in Otter Tail Corp. (NASDAQ:OTTR) by 1.2% during the second quarter, Holdings Channel reports. The institutional investor owned 27,875 shares of the company’s stock after buying an additional 338 shares during the period. Whittier Trust Co.’s holdings in Otter Tail Corp. were worth $933,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. North Point Portfolio Managers Corp OH purchased a new position in shares of Otter Tail Corp. during the second quarter worth $204,000. AXA purchased a new position in shares of Otter Tail Corp. during the first quarter worth $185,000. UBS Group AG increased its position in shares of Otter Tail Corp. by 33.0% in the first quarter. UBS Group AG now owns 53,769 shares of the company’s stock worth $1,593,000 after buying an additional 13,342 shares in the last quarter. Zebra Capital Management LLC increased its position in shares of Otter Tail Corp. by 27.9% in the first quarter. Zebra Capital Management LLC now owns 60,619 shares of the company’s stock worth $1,796,000 after buying an additional 13,212 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its position in shares of Otter Tail Corp. by 1.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 998,456 shares of the company’s stock worth $29,574,000 after buying an additional 13,515 shares in the last quarter. 35.94% of the stock is owned by institutional investors and hedge funds.
Shares of Otter Tail Corp. (NASDAQ:OTTR) traded up 1.29% during trading on Monday, reaching $33.73. 29,648 shares of the company were exchanged. Otter Tail Corp. has a one year low of $25.20 and a one year high of $36.42. The stock has a 50-day moving average price of $34.70 and a 200-day moving average price of $32.17. The stock has a market capitalization of $1.31 billion, a PE ratio of 21.23 and a beta of 0.67.
Otter Tail Corp. (NASDAQ:OTTR) last released its quarterly earnings results on Monday, August 8th. The company reported $0.41 EPS for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.03. Otter Tail Corp. had a net margin of 7.53% and a return on equity of 9.98%. The business earned $203.50 million during the quarter, compared to analysts’ expectations of $194 million. During the same quarter in the previous year, the company earned $0.36 EPS. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. Analysts forecast that Otter Tail Corp. will post $1.60 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Saturday, September 10th. Shareholders of record on Monday, August 15th were paid a $0.3125 dividend. The ex-dividend date was Thursday, August 11th. This represents a $1.25 dividend on an annualized basis and a yield of 3.75%. Otter Tail Corp.’s dividend payout ratio is presently 78.62%.
Separately, Zacks Investment Research downgraded shares of Otter Tail Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, September 20th.
In other Otter Tail Corp. news, CFO Kevin G. Moug sold 800 shares of the business’s stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $34.07, for a total value of $27,256.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Paul L. Knutson sold 1,700 shares of the business’s stock in a transaction that occurred 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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