Algert Global LLC Takes $332,000 Position in Otter Tail Co. (NASDAQ:OTTR)

Algert Global LLC bought a new position in shares of Otter Tail Co. (NASDAQ:OTTR) during the second quarter, HoldingsChannel reports. The institutional investor bought 3,785 shares of the utilities provider’s stock, valued at approximately $332,000.

Several other large investors also recently made changes to their positions in OTTR. Atticus Wealth Management LLC bought a new position in shares of Otter Tail in the second quarter valued at $33,000. GAMMA Investing LLC raised its position in shares of Otter Tail by 46.3% during the second 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. purchased a new stake in shares of Otter Tail during the second quarter valued at $77,000. Abound Wealth Management boosted its position in shares of Otter Tail by 28,725.0% in the 2nd quarter. Abound Wealth Management now owns 1,153 shares of the utilities provider’s stock valued at $101,000 after purchasing an additional 1,149 shares during the period. Finally, Blue Trust Inc. increased its stake in Otter Tail by 46.4% in the 2nd quarter. Blue Trust Inc. now owns 1,580 shares of the utilities provider’s stock worth $137,000 after purchasing an additional 501 shares in the last quarter. Institutional investors own 61.32% of the company’s stock.

Insider Buying and Selling

In other news, VP Jennifer O. Smestad sold 4,000 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $88.74, for a total value of $354,960.00. Following the transaction, the vice president now owns 12,300 shares in the company, valued at $1,091,502. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.30% of the company’s stock.

Otter Tail Price Performance

OTTR stock opened at $74.74 on Wednesday. The firm has a 50-day moving average of $83.41 and a two-hundred day moving average of $86.53. The firm has a market capitalization of $3.13 billion, a PE ratio of 10.27 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 Co. has a one year low of $68.96 and a one year high of $100.84.

Otter Tail (NASDAQ:OTTR) last posted its quarterly earnings data on Monday, August 5th. The utilities provider reported $2.07 EPS for the quarter, topping 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 firm had revenue of $342.34 million during the quarter, compared to analyst estimates of $367.71 million. During the same quarter last year, the business posted $1.95 EPS. The company’s revenue was up 1.4% on a year-over-year basis. On average, analysts forecast that Otter Tail Co. will post 6.92 earnings per share for the current year.

Otter Tail Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were given a dividend of $0.468 per share. This represents a $1.87 annualized dividend and a yield of 2.50%. The ex-dividend date was Thursday, August 15th. Otter Tail’s payout ratio is 25.69%.

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.