International Assets Investment Management LLC Acquires 74,212 Shares of Otter Tail Co. (NASDAQ:OTTR)

International Assets Investment Management LLC grew its holdings in shares of Otter Tail Co. (NASDAQ:OTTR) by 3,339.9% in the third quarter, Holdings Channel.com reports. The firm owned 76,434 shares of the utilities provider’s stock after buying an additional 74,212 shares during the period. International Assets Investment Management LLC’s holdings in Otter Tail were worth $5,974,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Atticus Wealth Management LLC bought a new position in Otter Tail during the second quarter worth about $33,000. Hoese & Co LLP bought a new position in shares of Otter Tail in the third quarter valued at approximately $39,000. GAMMA Investing LLC boosted its position in shares of Otter Tail by 46.3% in the second quarter. GAMMA Investing LLC now owns 657 shares of the utilities provider’s stock valued at $58,000 after acquiring an additional 208 shares during the period. Quarry LP boosted its position in shares of Otter Tail by 1,811.4% in the second quarter. Quarry LP now owns 669 shares of the utilities provider’s stock valued at $59,000 after acquiring an additional 634 shares during the period. Finally, Mather Group LLC. bought a new position in shares of Otter Tail in the second quarter valued at approximately $77,000. Institutional investors own 61.32% of the company’s stock.

Insider Buying and Selling at Otter Tail

In other Otter Tail news, VP Jennifer O. Smestad sold 4,000 shares of Otter Tail stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $88.74, for a total transaction of $354,960.00. Following the completion of the sale, the vice president now directly owns 12,300 shares in the company, valued at $1,091,502. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.30% of the stock is currently owned by company insiders.

Otter Tail Price Performance

OTTR stock opened at $78.52 on Friday. The firm has a 50 day moving average of $79.53 and a 200-day moving average of $85.78. The company has a current ratio of 2.27, a quick ratio of 1.67 and a debt-to-equity ratio of 0.60. Otter Tail Co. has a 12 month low of $74.09 and a 12 month high of $100.84. The firm has a market capitalization of $3.28 billion, a P/E ratio of 10.61 and a beta of 0.53.

Otter Tail (NASDAQ:OTTR) last released its quarterly earnings data on Monday, August 5th. The utilities provider reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $1.69 by $0.38. Otter Tail had a net margin of 22.84% and a return on equity of 21.06%. The company had revenue of $342.34 million during the quarter, compared to analyst estimates of $367.71 million. During the same period last year, the business earned $1.95 earnings per share. Otter Tail’s revenue was up 1.4% compared to the same quarter last year. As a group, sell-side analysts predict that Otter Tail Co. will post 7.01 earnings per share for the current fiscal year.

Otter Tail Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were given a dividend of $0.468 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.87 annualized dividend and a yield of 2.38%. Otter Tail’s payout ratio is presently 25.27%.

Otter Tail Profile

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.