Harbour Investments Inc. Purchases 2,009 Shares of Otter Tail Co. (NASDAQ:OTTR)

Harbour Investments Inc. lifted its position in shares of Otter Tail Co. (NASDAQ:OTTR) by 96.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,088 shares of the utilities provider’s stock after purchasing an additional 2,009 shares during the period. Harbour Investments Inc.’s holdings in Otter Tail were worth $358,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Otter Tail by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 5,238,510 shares of the utilities provider’s stock worth $452,607,000 after acquiring an additional 197,617 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Otter Tail by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,026,585 shares of the utilities provider’s stock worth $87,230,000 after purchasing an additional 3,218 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Otter Tail by 1.1% in the second quarter. Bank of New York Mellon Corp now owns 435,005 shares of the utilities provider’s stock valued at $38,102,000 after purchasing an additional 4,862 shares during the period. Principal Financial Group Inc. raised its position in Otter Tail by 1.9% during the 1st quarter. Principal Financial Group Inc. now owns 235,102 shares of the utilities provider’s stock worth $20,313,000 after purchasing an additional 4,358 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in Otter Tail by 8,231.5% during the 4th quarter. International Assets Investment Management LLC now owns 187,958 shares of the utilities provider’s stock worth $15,971,000 after buying an additional 185,702 shares during the period. Institutional investors and hedge funds own 61.32% of the company’s stock.

Insider Buying and Selling at Otter Tail

In other news, VP Jennifer O. Smestad sold 4,000 shares of Otter Tail 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 completion of the transaction, the vice president now directly owns 12,300 shares of the company’s stock, valued at approximately $1,091,502. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 2.30% of the company’s stock.

Otter Tail Trading Down 1.4 %

Shares of OTTR stock opened at $83.50 on Friday. Otter Tail Co. has a 1-year low of $68.96 and a 1-year high of $100.84. The company has a current ratio of 2.27, a quick ratio of 1.67 and a debt-to-equity ratio of 0.60. The stock has a market cap of $3.49 billion, a price-to-earnings ratio of 11.47 and a beta of 0.55. The stock has a 50-day moving average of $89.79 and a 200-day moving average of $88.00.

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

Otter Tail Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be issued a $0.468 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.87 annualized dividend and a yield of 2.24%. 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.