Wealth Enhancement Advisory Services LLC Grows Position in Otter Tail Co. (NASDAQ:OTTR)

Wealth Enhancement Advisory Services LLC boosted its stake in shares of Otter Tail Co. (NASDAQ:OTTR) by 1.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 17,327 shares of the utilities provider’s stock after buying an additional 267 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Otter Tail were worth $1,518,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Linden Thomas Advisory Services LLC increased its stake in Otter Tail by 9.9% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 5,241 shares of the utilities provider’s stock worth $459,000 after acquiring an additional 472 shares during the last quarter. Mather Group LLC. purchased a new position in shares of Otter Tail in the second quarter valued at $77,000. Bank & Trust Co bought a new stake in Otter Tail in the second quarter worth $11,129,000. GAMMA Investing LLC raised its stake in Otter Tail by 46.3% during the second quarter. GAMMA Investing LLC now owns 657 shares of the utilities provider’s stock valued at $58,000 after purchasing an additional 208 shares in the last quarter. Finally, Cetera Advisors LLC bought a new position in Otter Tail during the first quarter valued at $270,000. 61.32% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, VP Jennifer O. Smestad sold 4,000 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $88.74, for a total value of $354,960.00. Following the sale, the vice president now owns 12,300 shares of the company’s stock, valued at $1,091,502. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.30% of the stock is owned by insiders.

Otter Tail Stock Performance

Otter Tail stock opened at $88.34 on Tuesday. The company’s 50-day moving average price is $89.71 and its 200-day moving average price is $88.31. The company has a quick ratio of 1.67, a current ratio of 2.27 and a debt-to-equity ratio of 0.60. The company has a market cap of $3.69 billion, a PE ratio of 12.13 and a beta of 0.55. Otter Tail Co. has a twelve month low of $68.96 and a twelve month high of $100.84.

Otter Tail (NASDAQ:OTTR) last issued its quarterly earnings data on Monday, August 5th. The utilities provider reported $2.07 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.38. The company had revenue of $342.34 million for the quarter, compared to analysts’ expectations of $367.71 million. Otter Tail had a return on equity of 21.06% and a net margin of 22.84%. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.95 earnings per share. On average, equities research analysts forecast that Otter Tail Co. will post 6.92 EPS for the current fiscal year.

Otter Tail Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be given a $0.468 dividend. The ex-dividend date is Thursday, August 15th. This represents a $1.87 dividend on an annualized basis and a yield of 2.12%. Otter Tail’s dividend payout ratio is presently 25.69%.

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.