The Manufacturers Life Insurance Company Grows Stock Holdings in Otter Tail Co. (NASDAQ:OTTR)

The Manufacturers Life Insurance Company increased its stake in shares of Otter Tail Co. (NASDAQ:OTTR) by 4.8% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 78,827 shares of the utilities provider’s stock after acquiring an additional 3,593 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.19% of Otter Tail worth $6,904,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in OTTR. Atticus Wealth Management LLC acquired a new stake in shares of Otter Tail during the 2nd quarter worth approximately $33,000. GAMMA Investing LLC grew its stake in 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 in the last quarter. Mather Group LLC. acquired a new position in Otter Tail in the 2nd quarter valued at approximately $77,000. Abound Wealth Management raised its holdings in shares of Otter Tail by 28,725.0% during the second quarter. Abound Wealth Management now owns 1,153 shares of the utilities provider’s stock worth $101,000 after acquiring an additional 1,149 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings 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 valued at $137,000 after buying an additional 501 shares during the last quarter. 61.32% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Otter Tail

In other Otter Tail news, VP Jennifer O. Smestad sold 4,000 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $88.74, for a total transaction of $354,960.00. Following the transaction, the vice president now owns 12,300 shares in the company, valued at $1,091,502. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.30% of the stock is currently owned by corporate insiders.

Otter Tail Stock Performance

OTTR opened at $77.74 on Friday. The stock’s 50 day moving average price is $84.26 and its two-hundred day moving average price is $86.58. The firm has a market capitalization of $3.25 billion, a P/E ratio of 10.68 and a beta of 0.53. The company has a quick ratio of 1.67, a current ratio of 2.27 and a debt-to-equity ratio of 0.60. Otter Tail Co. has a 12-month low of $68.96 and a 12-month high of $100.84.

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

Otter Tail Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were given a $0.468 dividend. This represents a $1.87 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date was Thursday, August 15th. Otter Tail’s dividend payout ratio (DPR) is presently 25.69%.

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.