Otter Tail Co. (NASDAQ:OTTR) Position Increased by Hancock Whitney Corp

Hancock Whitney Corp lifted its position in Otter Tail Co. (NASDAQ:OTTR) by 17.3% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 4,807 shares of the utilities provider’s stock after buying an additional 709 shares during the quarter. Hancock Whitney Corp’s holdings in Otter Tail were worth $421,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Quadrant Capital Group LLC lifted its position in shares of Otter Tail by 32.9% in the fourth quarter. Quadrant Capital Group LLC now owns 590 shares of the utilities provider’s stock worth $50,000 after purchasing an additional 146 shares in the last quarter. Foster & Motley Inc. grew its holdings in shares of Otter Tail by 1.5% during the 2nd quarter. Foster & Motley Inc. now owns 9,855 shares of the utilities provider’s stock valued at $863,000 after acquiring an additional 149 shares in the last quarter. GAMMA Investing LLC increased its stake 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 worth $58,000 after acquiring an additional 208 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of Otter Tail by 2.0% during the second quarter. Arizona State Retirement System now owns 10,525 shares of the utilities provider’s stock worth $922,000 after acquiring an additional 208 shares in the last quarter. Finally, Los Angeles Capital Management LLC raised its holdings in shares of Otter Tail by 1.3% during the second quarter. Los Angeles Capital Management LLC now owns 21,091 shares of the utilities provider’s stock worth $1,847,000 after acquiring an additional 265 shares in the last quarter. Institutional investors and hedge funds own 61.32% of the company’s stock.

Insider Activity at Otter Tail

In other news, VP Jennifer O. Smestad sold 4,000 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $88.74, for a total transaction of $354,960.00. Following the transaction, the vice president now owns 12,300 shares of the company’s stock, valued at approximately $1,091,502. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.30% of the stock is owned by company insiders.

Otter Tail Stock Performance

Shares of NASDAQ OTTR opened at $79.31 on Tuesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.27 and a quick ratio of 1.67. Otter Tail Co. has a one year low of $68.96 and a one year high of $100.84. The business’s 50-day moving average price is $87.34 and its two-hundred day moving average price is $86.85. The company has a market capitalization of $3.32 billion, a P/E ratio of 10.89 and a beta of 0.53.

Otter Tail (NASDAQ:OTTR) last announced its quarterly earnings results on Monday, August 5th. The utilities provider reported $2.07 EPS for the quarter, beating 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 return on equity of 21.06% and a net margin of 22.84%. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.95 EPS. Analysts anticipate that Otter Tail Co. will post 6.92 earnings per share for the current fiscal year.

Otter Tail Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.36%. 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.