ProShare Advisors LLC Cuts Stock Holdings in Otter Tail Co. (NASDAQ:OTTR)

ProShare Advisors LLC reduced its stake in Otter Tail Co. (NASDAQ:OTTR) by 16.0% during the 2nd quarter, Holdings Channel reports. The fund owned 76,547 shares of the utilities provider’s stock after selling 14,605 shares during the quarter. ProShare Advisors LLC’s holdings in Otter Tail were worth $6,705,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Hancock Whitney Corp grew its holdings in Otter Tail by 17.3% during the 2nd quarter. Hancock Whitney Corp now owns 4,807 shares of the utilities provider’s stock worth $421,000 after acquiring an additional 709 shares in the last quarter. Sei Investments Co. lifted its position in shares of Otter Tail by 10.9% during the 2nd quarter. Sei Investments Co. now owns 7,109 shares of the utilities provider’s stock worth $623,000 after purchasing an additional 701 shares during the last quarter. Hsbc Holdings PLC grew its stake in shares of Otter Tail by 11.0% during the second quarter. Hsbc Holdings PLC now owns 7,756 shares of the utilities provider’s stock worth $678,000 after purchasing an additional 766 shares in the last quarter. Edgestream Partners L.P. increased its holdings in Otter Tail by 2,055.2% in the second quarter. Edgestream Partners L.P. now owns 67,695 shares of the utilities provider’s stock valued at $5,929,000 after buying an additional 64,554 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Otter Tail by 0.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,035,541 shares of the utilities provider’s stock valued at $90,703,000 after buying an additional 3,974 shares in the last quarter. 61.32% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Otter Tail

In other Otter Tail news, VP Jennifer O. Smestad sold 4,000 shares of the firm’s 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 $1,091,502. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.30% of the stock is owned by corporate insiders.

Otter Tail Trading Down 1.7 %

NASDAQ:OTTR opened at $78.35 on Thursday. Otter Tail Co. has a 1 year low of $68.96 and a 1 year high of $100.84. The stock has a market cap of $3.28 billion, a P/E ratio of 10.76 and a beta of 0.53. 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 stock has a 50-day simple moving average of $86.73 and a 200-day simple moving average of $86.76.

Otter Tail (NASDAQ:OTTR) last announced its quarterly earnings results on Monday, August 5th. The utilities provider reported $2.07 earnings per share (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 during the quarter, compared to the consensus estimate of $367.71 million. During the same period in the prior year, the company posted $1.95 earnings per share. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year. As a group, analysts anticipate that Otter Tail Co. will post 6.92 earnings per share for the current fiscal year.

Otter Tail Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 2.39%. Otter Tail’s dividend payout ratio is currently 25.69%.

Otter Tail Company 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.