Thrivent Financial for Lutherans Sells 1,473 Shares of Otter Tail Co. (NASDAQ:OTTR)

Thrivent Financial for Lutherans cut its holdings in shares of Otter Tail Co. (NASDAQ:OTTR) by 4.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,712 shares of the utilities provider’s stock after selling 1,473 shares during the period. Thrivent Financial for Lutherans’ holdings in Otter Tail were worth $3,040,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Sei Investments Co. lifted its holdings in Otter Tail by 10.9% in the second quarter. Sei Investments Co. now owns 7,109 shares of the utilities provider’s stock valued at $623,000 after buying an additional 701 shares during the period. 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 during the period. 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 purchasing an additional 64,554 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Otter Tail by 0.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,035,541 shares of the utilities provider’s stock worth $90,703,000 after buying an additional 3,974 shares during the last quarter. Finally, Abound Wealth Management grew its position in shares of Otter Tail by 28,725.0% during the 2nd quarter. Abound Wealth Management now owns 1,153 shares of the utilities provider’s stock worth $101,000 after buying an additional 1,149 shares during the period. Institutional investors own 61.32% of the company’s stock.

Otter Tail Stock Performance

Shares of NASDAQ:OTTR opened at $78.11 on Monday. The company has a market capitalization of $3.27 billion, a price-to-earnings ratio of 10.73 and a beta of 0.53. The firm’s 50 day simple moving average is $86.13 and its 200 day simple moving average is $86.69. 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 fifty-two week low of $68.96 and a fifty-two week high of $100.84.

Otter Tail (NASDAQ:OTTR) last announced its quarterly earnings results on Monday, August 5th. The utilities provider reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.69 by $0.38. The company had revenue of $342.34 million for 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 business’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period last year, the firm posted $1.95 earnings per share. As a group, sell-side analysts forecast that Otter Tail Co. will post 6.92 earnings per share for the current year.

Otter Tail Announces Dividend

The firm also recently announced 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 was Thursday, August 15th. This represents a $1.87 dividend on an annualized basis and a yield of 2.40%. Otter Tail’s payout ratio is 25.69%.

Insider Buying and Selling at Otter Tail

In related news, VP Jennifer O. Smestad sold 4,000 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were 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 $1,091,502. 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 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.