Symons Capital Management Inc. held its stake in Otter Tail Co. (NASDAQ:OTTR) during the first quarter, Holdings Channel reports. The institutional investor owned 20,465 shares of the utilities provider’s stock at the end of the first quarter. Symons Capital Management Inc. owned 0.05% of Otter Tail worth $776,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its stake in Otter Tail by 34.1% in the first quarter. JPMorgan Chase & Co. now owns 44,282 shares of the utilities provider’s stock worth $1,678,000 after buying an additional 11,259 shares during the period. Ameritas Investment Partners Inc. bought a new stake in Otter Tail during the first quarter worth $119,000. Trexquant Investment LP bought a new stake in Otter Tail during the first quarter worth $506,000. Campbell & CO Investment Adviser LLC bought a new stake in Otter Tail during the first quarter worth $214,000. Finally, Virginia Retirement Systems ET AL bought a new stake in Otter Tail during the first quarter worth $906,000. 37.58% of the stock is owned by institutional investors.
Shares of Otter Tail Co. (NASDAQ:OTTR) traded up 1.35% on Friday, reaching $37.55. The company had a trading volume of 143,700 shares. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of 21.84 and a beta of 0.76. The stock’s 50 day moving average is $38.30 and its 200 day moving average is $38.21. Otter Tail Co. has a 52 week low of $27.77 and a 52 week high of $42.55.
Otter Tail (NASDAQ:OTTR) last announced its quarterly earnings data on Monday, May 1st. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.06. The business had revenue of $214.10 million during the quarter, compared to the consensus estimate of $211.80 million. Otter Tail had a net margin of 7.76% and a return on equity of 9.76%. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.38 earnings per share. On average, equities analysts anticipate that Otter Tail Co. will post $1.71 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 10th. Shareholders of record on Monday, May 15th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 3.45%. The ex-dividend date of this dividend is Thursday, May 11th. Otter Tail’s payout ratio is currently 80.00%.
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A number of research firms have recently weighed in on OTTR. Zacks Investment Research lowered Otter Tail from a “hold” rating to a “sell” rating in a research note on Friday, May 5th. Sidoti raised Otter Tail from a “neutral” rating to a “buy” rating and set a $46.00 target price for the company in a research note on Friday, March 24th. Finally, Williams Capital began coverage on Otter Tail in a research note on Monday, February 6th. They issued a “hold” rating and a $36.00 target price for the company.
In other news, CFO Kevin G. Moug sold 800 shares of Otter Tail stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $37.25, for a total transaction of $29,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP George A. Koeck sold 4,000 shares of Otter Tail stock in a transaction that occurred on Monday, March 13th. The shares were sold at an average price of $36.30, for a total transaction of $145,200.00. The disclosure for this sale can be found here. 1.60% of the stock is owned by company insiders.
About Otter Tail
Otter Tail Corporation is a holding company. The Company operates through three segments: Electric, Manufacturing and Plastics. The Electric segment includes the production, transmission, distribution and sale of electric energy in Minnesota, North Dakota and South Dakota by Otter Tail Power Company (OTP).
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