Gabelli Funds LLC Sells 33,000 Shares of Otter Tail Co. (NASDAQ:OTTR)

Gabelli Funds LLC decreased its holdings in shares of Otter Tail Co. (NASDAQ:OTTR) by 6.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 499,200 shares of the utilities provider’s stock after selling 33,000 shares during the period. Gabelli Funds LLC owned about 1.19% of Otter Tail worth $43,725,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Quadrant Capital Group LLC grew 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 valued at $50,000 after acquiring an additional 146 shares during the period. Foster & Motley Inc. grew its position 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 during the period. GAMMA Investing LLC grew 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 valued at $58,000 after acquiring an additional 208 shares during the period. Arizona State Retirement System grew its position in shares of Otter Tail by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 10,525 shares of the utilities provider’s stock valued at $922,000 after acquiring an additional 208 shares during the period. Finally, Los Angeles Capital Management LLC grew its position in shares of Otter Tail by 1.3% during the 2nd quarter. Los Angeles Capital Management LLC now owns 21,091 shares of the utilities provider’s stock valued at $1,847,000 after acquiring an additional 265 shares during the period. Institutional investors own 61.32% of the company’s stock.

Otter Tail Trading Down 0.8 %

Shares of Otter Tail stock opened at $79.31 on Friday. The company has a market capitalization of $3.32 billion, a P/E ratio of 10.89 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 company has a fifty day moving average of $87.52 and a 200 day moving average of $86.89. 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 issued its earnings results on Monday, August 5th. The utilities provider reported $2.07 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.38. The company had revenue of $342.34 million during the quarter, compared to the consensus estimate of $367.71 million. Otter Tail had a net margin of 22.84% and a return on equity of 21.06%. Otter Tail’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.95 EPS. On average, sell-side analysts anticipate that Otter Tail Co. will post 6.92 earnings per share for the current fiscal year.

Otter Tail Announces Dividend

The company 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. This represents a $1.87 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend was Thursday, August 15th. Otter Tail’s dividend payout ratio (DPR) is currently 25.69%.

Insider Buying and Selling

In related news, VP Jennifer O. Smestad sold 4,000 shares of Otter Tail stock in a transaction that occurred 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 transaction, the vice president now directly 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 this link. 2.30% of the stock is currently owned by corporate insiders.

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.