Amalgamated Bank Reduces Stock Position in Otter Tail Co. (NASDAQ:OTTR)

Amalgamated Bank trimmed its position in Otter Tail Co. (NASDAQ:OTTR) by 3.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 12,317 shares of the utilities provider’s stock after selling 440 shares during the quarter. Amalgamated Bank’s holdings in Otter Tail were worth $963,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Atticus Wealth Management LLC purchased a new stake in Otter Tail in the second quarter valued at $33,000. Hoese & Co LLP acquired a new position in shares of Otter Tail in the 3rd quarter valued at about $39,000. Allworth Financial LP boosted its stake in shares of Otter Tail by 132.8% in the third quarter. Allworth Financial LP now owns 547 shares of the utilities provider’s stock worth $43,000 after buying an additional 312 shares during the last quarter. GAMMA Investing LLC grew its holdings in Otter Tail by 46.3% during 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 period. Finally, Quarry LP raised its position in Otter Tail by 1,811.4% during the second quarter. Quarry LP now owns 669 shares of the utilities provider’s stock valued at $59,000 after acquiring an additional 634 shares in the last quarter. Institutional investors and hedge funds own 61.32% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on OTTR. Siebert Williams Shank upgraded Otter Tail from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 6th. StockNews.com raised shares of Otter Tail from a “sell” rating to a “hold” rating in a report on Thursday.

Otter Tail Price Performance

NASDAQ:OTTR opened at $79.64 on Friday. The company has a quick ratio of 1.66, a current ratio of 2.17 and a debt-to-equity ratio of 0.58. Otter Tail Co. has a 52 week low of $73.43 and a 52 week high of $100.84. The stock’s 50-day moving average price is $78.52 and its 200-day moving average price is $85.54. The stock has a market capitalization of $3.33 billion, a PE ratio of 11.01 and a beta of 0.52.

Otter Tail (NASDAQ:OTTR) last issued its quarterly earnings data on Monday, November 4th. The utilities provider reported $2.03 EPS for the quarter, beating the consensus estimate of $1.97 by $0.06. The company had revenue of $338.03 million for the quarter, compared to analyst estimates of $362.20 million. Otter Tail had a return on equity of 19.84% and a net margin of 22.70%. During the same period last year, the company earned $2.19 earnings per share. As a group, equities analysts expect that Otter Tail Co. will post 7.01 EPS for the current fiscal year.

Otter Tail Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be given a dividend of $0.468 per share. This represents a $1.87 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date of this dividend is Friday, November 15th. Otter Tail’s dividend payout ratio is presently 25.83%.

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.