Sei Investments Co. Buys 701 Shares of Otter Tail Co. (NASDAQ:OTTR)

Sei Investments Co. grew its position in shares of Otter Tail Co. (NASDAQ:OTTR) by 10.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,109 shares of the utilities provider’s stock after buying an additional 701 shares during the quarter. Sei Investments Co.’s holdings in Otter Tail were worth $623,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Atticus Wealth Management LLC purchased a new position in Otter Tail in the second quarter worth about $33,000. GAMMA Investing LLC raised its holdings in Otter Tail by 46.3% in 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 during the period. Mather Group LLC. purchased a new position in Otter Tail during the second quarter valued at $77,000. Abound Wealth Management grew its holdings in Otter Tail by 28,725.0% during the second quarter. Abound Wealth Management now owns 1,153 shares of the utilities provider’s stock valued at $101,000 after purchasing an additional 1,149 shares during the period. Finally, Blue Trust Inc. increased its position in Otter Tail by 46.4% in the second quarter. Blue Trust Inc. now owns 1,580 shares of the utilities provider’s stock worth $137,000 after buying an additional 501 shares in the last quarter. 61.32% of the stock is currently owned by hedge funds and other institutional investors.

Otter Tail Stock Down 1.6 %

OTTR stock opened at $74.74 on Wednesday. The business’s 50-day moving average price is $83.41 and its 200-day moving average price is $86.53. The stock has a market cap of $3.13 billion, a P/E ratio of 10.27 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 twelve month low of $68.96 and a twelve month high of $100.84.

Otter Tail (NASDAQ:OTTR) last issued its quarterly earnings results on Monday, August 5th. The utilities provider reported $2.07 earnings per share for the quarter, beating 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 net margin of 22.84% and a return on equity of 21.06%. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.95 earnings per share. On average, equities research analysts forecast that Otter Tail Co. will post 6.92 EPS for the current year.

Otter Tail Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were paid a $0.468 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.87 dividend on an annualized basis and a yield of 2.50%. Otter Tail’s payout ratio is presently 25.69%.

Insider Buying and Selling at Otter Tail

In other news, VP Jennifer O. Smestad sold 4,000 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $88.74, for a total value of $354,960.00. Following the completion of the transaction, the vice president now owns 12,300 shares of the company’s stock, valued at $1,091,502. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.30% of the company’s stock.

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.