Benjamin Edwards Inc. Sells 1,046 Shares of Otter Tail Co. (NASDAQ:OTTR)

Benjamin Edwards Inc. trimmed its stake in Otter Tail Co. (NASDAQ:OTTR) by 2.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,623 shares of the utilities provider’s stock after selling 1,046 shares during the period. Benjamin Edwards Inc. owned 0.09% of Otter Tail worth $3,120,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Atticus Wealth Management LLC acquired a new position in Otter Tail during the 2nd quarter valued at about $33,000. Quadrant Capital Group LLC increased its position in Otter Tail by 32.9% during the 4th quarter. Quadrant Capital Group LLC now owns 590 shares of the utilities provider’s stock valued at $50,000 after buying an additional 146 shares in the last quarter. GAMMA Investing LLC grew its stake in Otter Tail by 46.3% during the 2nd quarter. GAMMA Investing LLC now owns 657 shares of the utilities provider’s stock valued at $58,000 after purchasing an additional 208 shares during the last quarter. Mather Group LLC. purchased a new stake in Otter Tail during the 2nd quarter valued at about $77,000. Finally, Abound Wealth Management grew its stake in Otter Tail by 28,725.0% during 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 last quarter. 61.32% of the stock is owned by institutional investors.

Insider Transactions at Otter Tail

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 sale, the vice president now owns 12,300 shares in the company, valued at $1,091,502. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.30% of the company’s stock.

Otter Tail Stock Up 1.4 %

Otter Tail stock opened at $79.95 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.67 and a current ratio of 2.27. The business’s 50-day simple moving average is $87.69 and its two-hundred day simple moving average is $86.95. The company has a market cap of $3.34 billion, a PE ratio of 10.98 and a beta of 0.53. Otter Tail Co. has a fifty-two week low of $68.96 and a fifty-two week high of $100.84.

Otter Tail (NASDAQ:OTTR) last posted its quarterly earnings results on Monday, August 5th. The utilities provider reported $2.07 earnings per share 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 quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.95 EPS. Equities analysts anticipate that Otter Tail Co. will post 6.92 EPS for the current year.

Otter Tail Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were paid a $0.468 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.87 dividend on an annualized basis and a dividend yield of 2.34%. Otter Tail’s payout ratio is 25.69%.

Otter Tail 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.