Cwm LLC Has $911,000 Stock Position in Otter Tail Co. (NASDAQ:OTTR)

Cwm LLC lessened its stake in shares of Otter Tail Co. (NASDAQ:OTTR) by 4.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,658 shares of the utilities provider’s stock after selling 586 shares during the period. Cwm LLC’s holdings in Otter Tail were worth $911,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Atticus Wealth Management LLC acquired a new stake in shares of Otter Tail during the second quarter valued at approximately $33,000. GAMMA Investing LLC lifted its holdings in shares of Otter Tail by 46.3% in the second quarter. GAMMA Investing LLC now owns 657 shares of the utilities provider’s stock valued at $58,000 after purchasing an additional 208 shares in the last quarter. Quarry LP boosted its position in shares of Otter Tail by 1,811.4% in the second quarter. Quarry LP now owns 669 shares of the utilities provider’s stock worth $59,000 after buying an additional 634 shares during the period. Mather Group LLC. purchased a new position in shares of Otter Tail during the second quarter valued at $77,000. Finally, Abound Wealth Management grew its holdings in shares of Otter Tail by 28,725.0% during the second quarter. Abound Wealth Management now owns 1,153 shares of the utilities provider’s stock valued at $101,000 after buying an additional 1,149 shares in the last quarter. 61.32% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Otter Tail

In other Otter Tail 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 directly owns 12,300 shares of the company’s stock, valued at $1,091,502. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.30% of the company’s stock.

Otter Tail Stock Up 0.8 %

Shares of Otter Tail stock opened at $79.51 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 1 year low of $68.96 and a 1 year high of $100.84. The stock has a 50-day moving average price of $81.32 and a 200 day moving average price of $86.17. The company has a market cap of $3.32 billion, a P/E ratio of 10.92 and a beta of 0.53.

Otter Tail (NASDAQ:OTTR) last posted its quarterly earnings results on Monday, August 5th. The utilities provider reported $2.07 EPS for the quarter, topping the consensus estimate of $1.69 by $0.38. The business had revenue of $342.34 million during the quarter, compared to analysts’ expectations of $367.71 million. Otter Tail had a net margin of 22.84% and a return on equity of 21.06%. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period last year, the company posted $1.95 earnings per share. As a group, analysts expect that Otter Tail Co. will post 6.92 EPS for the current fiscal year.

Otter Tail Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were issued a dividend of $0.468 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.87 annualized dividend and a dividend yield of 2.35%. Otter Tail’s dividend payout ratio 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.