Allworth Financial LP Raises Stake in Otter Tail Co. (NASDAQ:OTTR)

Allworth Financial LP grew its stake in shares of Otter Tail Co. (NASDAQ:OTTR) by 132.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 547 shares of the utilities provider’s stock after purchasing an additional 312 shares during the period. Allworth Financial LP’s holdings in Otter Tail were worth $43,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Commonwealth Equity Services LLC raised its stake in shares of Otter Tail by 6.3% during the 1st quarter. Commonwealth Equity Services LLC now owns 16,712 shares of the utilities provider’s stock worth $1,444,000 after buying an additional 991 shares during the last quarter. Whittier Trust Co. raised its stake in shares of Otter Tail by 4.0% during the 1st quarter. Whittier Trust Co. now owns 74,299 shares of the utilities provider’s stock worth $6,419,000 after buying an additional 2,870 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Otter Tail by 5.2% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 39,347 shares of the utilities provider’s stock worth $3,399,000 after buying an additional 1,936 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Otter Tail during the 1st quarter worth $657,000. Finally, Texas Permanent School Fund Corp raised its stake in shares of Otter Tail by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 36,505 shares of the utilities provider’s stock worth $3,154,000 after buying an additional 472 shares during the last quarter. 61.32% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Otter Tail

In other news, VP Jennifer O. Smestad sold 4,000 shares of the company’s stock in a transaction dated 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 transaction, the vice president now owns 12,300 shares of the company’s stock, valued at $1,091,502. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.30% of the stock is currently owned by corporate insiders.

Otter Tail Trading Down 0.5 %

Shares of OTTR stock opened at $78.09 on Friday. The firm has a 50-day moving average price of $79.11 and a 200 day moving average price of $85.69. Otter Tail Co. has a twelve month low of $74.09 and a twelve month high of $100.84. The company has a market capitalization of $3.27 billion, a price-to-earnings ratio of 10.55 and a beta of 0.53. 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 (NASDAQ:OTTR) last announced its earnings results on Monday, August 5th. The utilities provider reported $2.07 earnings per share for the quarter, beating the consensus estimate of $1.69 by $0.38. Otter Tail had a net margin of 22.84% and a return on equity of 21.06%. The firm had revenue of $342.34 million during the quarter, compared to the consensus estimate of $367.71 million. During the same quarter in the previous year, the company posted $1.95 EPS. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. Research analysts forecast that Otter Tail Co. will post 7.01 earnings per share for the current fiscal year.

Otter Tail Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were paid a $0.468 dividend. This represents a $1.87 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend was Thursday, August 15th. Otter Tail’s payout ratio is 25.27%.

About Otter Tail

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.