Evergreen Capital Management LLC acquired a new position in shares of Otter Tail Co. (NASDAQ:OTTR – Free Report) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 2,716 shares of the utilities provider’s stock, valued at approximately $238,000.
Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in Otter Tail by 3.9% during the first quarter. Vanguard Group Inc. now owns 5,238,510 shares of the utilities provider’s stock valued at $452,607,000 after buying an additional 197,617 shares in the last quarter. Bank & Trust Co acquired a new stake in Otter Tail during the 2nd quarter valued at $11,129,000. Edgestream Partners L.P. lifted its holdings in shares of Otter Tail by 2,055.2% in the second quarter. Edgestream Partners L.P. now owns 67,695 shares of the utilities provider’s stock valued at $5,929,000 after purchasing an additional 64,554 shares in the last quarter. Jupiter Asset Management Ltd. purchased a new position in shares of Otter Tail during the first quarter valued at $2,276,000. Finally, Jane Street Group LLC raised its position in Otter Tail by 57.2% during the first quarter. Jane Street Group LLC now owns 64,615 shares of the utilities provider’s stock valued at $5,583,000 after buying an additional 23,514 shares during the period. 61.32% of the stock is currently owned by institutional investors and hedge funds.
Otter Tail Trading Up 0.8 %
Shares of NASDAQ OTTR opened at $78.11 on Friday. 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 one year low of $68.96 and a one year high of $100.84. The business has a 50-day moving average price of $86.43 and a two-hundred day moving average price of $86.69. The firm has a market capitalization of $3.27 billion, a PE ratio of 10.73 and a beta of 0.53.
Otter Tail Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were paid a $0.468 dividend. This represents a $1.87 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date was Thursday, August 15th. Otter Tail’s dividend payout ratio (DPR) is presently 25.69%.
Insider Buying and Selling
In related news, VP Jennifer O. Smestad sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $88.74, for a total value of $354,960.00. Following the completion of the sale, the vice president now directly owns 12,300 shares in the company, valued at approximately $1,091,502. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.30% of the stock is currently owned by corporate insiders.
Otter Tail Company 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.
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