Otter Tail Co. (NASDAQ:OTTR) Stake Cut by Vanguard Group Inc.

Vanguard Group Inc. cut its position in shares of Otter Tail Co. (NASDAQ:OTTR) by 3.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,040,893 shares of the utilities provider’s stock after selling 170,350 shares during the quarter. Vanguard Group Inc. owned 12.09% of Otter Tail worth $428,325,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its stake in Otter Tail by 8,231.5% in the fourth quarter. International Assets Investment Management LLC now owns 187,958 shares of the utilities provider’s stock valued at $15,971,000 after buying an additional 185,702 shares during the last quarter. Focus Financial Network Inc. ADV bought a new stake in Otter Tail in the fourth quarter valued at $1,634,000. Hsbc Holdings PLC bought a new stake in Otter Tail in the third quarter valued at $210,000. First Trust Direct Indexing L.P. bought a new stake in Otter Tail in the fourth quarter valued at $206,000. Finally, Blue Trust Inc. lifted its stake in Otter Tail by 53.9% in the fourth quarter. Blue Trust Inc. now owns 1,034 shares of the utilities provider’s stock valued at $88,000 after buying an additional 362 shares during the last quarter. 61.32% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, VP Paul L. Knutson sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $90.66, for a total transaction of $362,640.00. Following the sale, the vice president now directly owns 20,359 shares in the company, valued at $1,845,746.94. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.30% of the company’s stock.

Otter Tail Price Performance

Shares of NASDAQ OTTR opened at $86.20 on Thursday. Otter Tail Co. has a fifty-two week low of $68.96 and a fifty-two week high of $99.49. The firm’s 50-day simple moving average is $88.44 and its 200 day simple moving average is $86.78. The company has a quick ratio of 2.21, a current ratio of 2.92 and a debt-to-equity ratio of 0.63. The stock has a market cap of $3.60 billion, a P/E ratio of 11.84 and a beta of 0.57.

Otter Tail (NASDAQ:OTTR) last released its earnings results on Monday, May 6th. The utilities provider reported $1.77 earnings per share for the quarter. Otter Tail had a return on equity of 21.58% and a net margin of 22.55%. The company had revenue of $347.07 million for the quarter. Equities analysts expect that Otter Tail Co. will post 6.38 EPS for the current year.

Otter Tail Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th were given a $0.468 dividend. This represents a $1.87 annualized dividend and a yield of 2.17%. The ex-dividend date was Tuesday, May 14th. Otter Tail’s dividend payout ratio is currently 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.