Otter Tail Co. (NASDAQ:OTTR) Shares Acquired by Hancock Whitney Corp

Hancock Whitney Corp raised its position in shares of Otter Tail Co. (NASDAQ:OTTR) by 17.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,807 shares of the utilities provider’s stock after buying an additional 709 shares during the quarter. Hancock Whitney Corp’s holdings in Otter Tail were worth $421,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Otter Tail by 3.9% during the first quarter. Vanguard Group Inc. now owns 5,238,510 shares of the utilities provider’s stock worth $452,607,000 after purchasing an additional 197,617 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Otter Tail by 0.4% in the 2nd 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 during the period. Bank of New York Mellon Corp grew its position in shares of Otter Tail by 1.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 435,005 shares of the utilities provider’s stock valued at $38,102,000 after buying an additional 4,862 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Otter Tail by 1.9% during the 1st quarter. Principal Financial Group Inc. now owns 235,102 shares of the utilities provider’s stock valued at $20,313,000 after buying an additional 4,358 shares during the last quarter. Finally, Federated Hermes Inc. raised its stake in Otter Tail by 3.6% during the second quarter. Federated Hermes Inc. now owns 143,074 shares of the utilities provider’s stock worth $12,532,000 after acquiring an additional 4,997 shares during the period. Institutional investors own 61.32% of the company’s stock.

Otter Tail Stock Performance

Shares of OTTR stock opened at $79.31 on Tuesday. The company has a quick ratio of 1.67, a current ratio of 2.27 and a debt-to-equity ratio of 0.60. The business has a 50 day moving average of $87.34 and a two-hundred day moving average of $86.85. The company has a market cap of $3.32 billion, a P/E ratio of 10.89 and a beta of 0.53. Otter Tail Co. has a 52 week low of $68.96 and a 52 week high of $100.84.

Otter Tail (NASDAQ:OTTR) last issued its quarterly earnings data on Monday, August 5th. The utilities provider reported $2.07 EPS for the quarter, topping 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 business earned $1.95 EPS. The firm’s revenue was up 1.4% on a year-over-year basis. As a group, analysts anticipate that Otter Tail Co. will post 6.92 EPS for the current year.

Otter Tail Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were given a $0.468 dividend. This represents a $1.87 annualized dividend and a yield of 2.36%. The ex-dividend date was Thursday, August 15th. Otter Tail’s dividend payout ratio (DPR) 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 that occurred on Tuesday, August 13th. The stock was 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 SEC, which can be accessed through this hyperlink. 2.30% of the stock is owned by company 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.