Federated Hermes Inc. Boosts Holdings in Otter Tail Co. (NASDAQ:OTTR)

Federated Hermes Inc. grew its stake in shares of Otter Tail Co. (NASDAQ:OTTR) by 3.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 143,074 shares of the utilities provider’s stock after purchasing an additional 4,997 shares during the period. Federated Hermes Inc. owned approximately 0.34% of Otter Tail worth $12,532,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Atticus Wealth Management LLC purchased a new stake in shares of Otter Tail during the 2nd quarter worth $33,000. Quadrant Capital Group LLC boosted its position in shares of Otter Tail by 32.9% during the 4th 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. GAMMA Investing LLC boosted its position in shares of Otter Tail by 46.3% during the 2nd quarter. GAMMA Investing LLC now owns 657 shares of the utilities provider’s stock worth $58,000 after purchasing an additional 208 shares in the last quarter. Mather Group LLC. purchased a new stake in shares of Otter Tail during the 2nd quarter worth $77,000. Finally, Blue Trust Inc. boosted its position in shares of Otter Tail by 46.4% during the 2nd quarter. Blue Trust Inc. now owns 1,580 shares of the utilities provider’s stock worth $137,000 after purchasing an additional 501 shares in the last quarter. 61.32% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Jennifer O. Smestad sold 4,000 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $88.74, for a total value of $354,960.00. Following the sale, the vice president now directly owns 12,300 shares in the company, valued at approximately $1,091,502. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.30% of the company’s stock.

Otter Tail Price Performance

Shares of NASDAQ OTTR opened at $79.10 on Tuesday. The firm has a market capitalization of $3.31 billion, a P/E ratio of 10.87 and a beta of 0.53. Otter Tail Co. has a one year low of $68.96 and a one year high of $100.84. The company’s fifty day moving average is $88.05 and its two-hundred day moving average is $87.13. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.67 and a current ratio of 2.27.

Otter Tail (NASDAQ:OTTR) last released its quarterly earnings data on Monday, August 5th. The utilities provider reported $2.07 EPS for the quarter, topping the consensus estimate of $1.69 by $0.38. Otter Tail had a net margin of 22.84% and a return on equity of 21.06%. The business had revenue of $342.34 million for the quarter, compared to analyst estimates of $367.71 million. During the same period in the previous year, the firm earned $1.95 EPS. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. Analysts forecast that Otter Tail Co. will post 6.92 EPS for the current fiscal year.

Otter Tail Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were given a $0.468 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.87 annualized dividend and a dividend yield of 2.37%. Otter Tail’s dividend payout ratio is presently 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.