Whittier Trust Co. Boosts Stock Position in Otter Tail Co. (NASDAQ:OTTR)

Whittier Trust Co. boosted its holdings in Otter Tail Co. (NASDAQ:OTTR) by 4.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 81,749 shares of the utilities provider’s stock after purchasing an additional 3,609 shares during the period. Whittier Trust Co.’s holdings in Otter Tail were worth $6,388,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Atticus Wealth Management LLC purchased a new position in Otter Tail in the second quarter worth $33,000. Hoese & Co LLP purchased a new position in shares of Otter Tail during the 3rd quarter valued at $39,000. GAMMA Investing LLC lifted its position in shares of 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 buying an additional 208 shares during the last quarter. Quarry LP lifted its position in shares of Otter Tail by 1,811.4% during the 2nd quarter. Quarry LP now owns 669 shares of the utilities provider’s stock valued at $59,000 after buying an additional 634 shares during the last quarter. Finally, Mather Group LLC. purchased a new position in shares of Otter Tail during the 2nd quarter valued at $77,000. Hedge funds and other institutional investors own 61.32% of the company’s stock.

Otter Tail Stock Down 0.8 %

Shares of NASDAQ OTTR opened at $77.90 on Tuesday. Otter Tail Co. has a one year low of $68.96 and a one year high of $100.84. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.27 and a quick ratio of 1.67. The business’s fifty day moving average price is $80.88 and its 200-day moving average price is $86.08. The stock has a market capitalization of $3.26 billion, a PE ratio of 10.70 and a beta of 0.53.

Otter Tail (NASDAQ:OTTR) last issued its quarterly earnings results on Monday, August 5th. The utilities provider reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $1.69 by $0.38. Otter Tail had a return on equity of 21.06% and a net margin of 22.84%. The firm had revenue of $342.34 million for the quarter, compared to analysts’ expectations of $367.71 million. During the same quarter in the prior year, the firm earned $1.95 EPS. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. On average, equities research analysts anticipate that Otter Tail Co. will post 6.92 EPS for the current year.

Otter Tail Announces Dividend

The business also recently disclosed 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. 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 2.40%. Otter Tail’s payout ratio is 25.69%.

Insider Activity at Otter Tail

In related news, VP Jennifer O. Smestad sold 4,000 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $88.74, for a total transaction of $354,960.00. Following the sale, the vice president now directly owns 12,300 shares in the company, valued at approximately $1,091,502. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.30% of the stock is currently owned by corporate insiders.

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.