NewEdge Advisors LLC Cuts Stake in Otter Tail Co. (NASDAQ:OTTR)

NewEdge Advisors LLC trimmed its stake in Otter Tail Co. (NASDAQ:OTTR) by 8.0% in the second quarter, Holdings Channel.com reports. The firm owned 10,737 shares of the utilities provider’s stock after selling 937 shares during the quarter. NewEdge Advisors LLC’s holdings in Otter Tail were worth $940,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of OTTR. Atticus Wealth Management LLC acquired a new stake in shares of Otter Tail during the 2nd quarter worth $33,000. GAMMA Investing LLC raised its holdings in shares of Otter Tail by 46.3% in the 2nd quarter. GAMMA Investing LLC now owns 657 shares of the utilities provider’s stock worth $58,000 after purchasing an additional 208 shares during the period. Mather Group LLC. acquired a new position in shares of Otter Tail in the 2nd quarter valued at about $77,000. Abound Wealth Management grew its holdings in shares of Otter Tail by 28,725.0% during the 2nd quarter. Abound Wealth Management now owns 1,153 shares of the utilities provider’s stock worth $101,000 after purchasing an additional 1,149 shares during the period. Finally, Blue Trust Inc. lifted its position in Otter Tail by 46.4% during the second quarter. Blue Trust Inc. now owns 1,580 shares of the utilities provider’s stock valued at $137,000 after buying an additional 501 shares in the last quarter. Institutional investors and hedge funds own 61.32% of the company’s stock.

Insiders Place Their Bets

In other news, VP Jennifer O. Smestad sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.30% of the stock is currently owned by company insiders.

Otter Tail Stock Down 2.3 %

Shares of NASDAQ OTTR opened at $75.93 on Tuesday. The stock has a fifty day moving average price of $83.85 and a 200 day moving average price of $86.57. The company has a market cap of $3.17 billion, a P/E ratio of 10.43 and a beta of 0.53. Otter Tail Co. has a 12-month low of $68.96 and a 12-month high of $100.84. 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 EPS for the quarter, beating the consensus estimate of $1.69 by $0.38. The business had revenue of $342.34 million for the quarter, compared to the consensus estimate of $367.71 million. Otter Tail had a return on equity of 21.06% and a net margin of 22.84%. The company’s revenue was up 1.4% on a year-over-year basis. During the same period last year, the business posted $1.95 EPS. Research analysts anticipate that Otter Tail Co. will post 6.92 EPS for the current fiscal year.

Otter Tail Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were paid a dividend of $0.468 per share. This represents a $1.87 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend was Thursday, August 15th. Otter Tail’s dividend payout ratio (DPR) is 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.