3,785 Shares in Otter Tail Co. (NASDAQ:OTTR) Purchased by Algert Global LLC

Algert Global LLC acquired a new stake in Otter Tail Co. (NASDAQ:OTTR) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 3,785 shares of the utilities provider’s stock, valued at approximately $332,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Otter Tail by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 5,238,510 shares of the utilities provider’s stock valued at $452,607,000 after buying an additional 197,617 shares during the last quarter. Bank & Trust Co acquired a new position in Otter Tail during the second quarter worth about $11,129,000. Edgestream Partners L.P. grew its holdings in Otter Tail by 2,055.2% in the second quarter. Edgestream Partners L.P. now owns 67,695 shares of the utilities provider’s stock valued at $5,929,000 after purchasing an additional 64,554 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new position in Otter Tail during the 1st quarter valued at about $2,276,000. Finally, Squarepoint Ops LLC raised its position in shares of Otter Tail by 129.5% during the 2nd quarter. Squarepoint Ops LLC now owns 43,658 shares of the utilities provider’s stock worth $3,824,000 after purchasing an additional 24,635 shares during the last quarter. Hedge funds and other institutional investors own 61.32% of the company’s stock.

Insider Transactions at Otter Tail

In other Otter Tail news, VP Jennifer O. Smestad sold 4,000 shares of the business’s 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 completion of the transaction, the vice president now owns 12,300 shares in the company, valued at approximately $1,091,502. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.30% of the company’s stock.

Otter Tail Stock Performance

NASDAQ:OTTR opened at $74.74 on Wednesday. The firm has a market cap of $3.13 billion, a PE ratio of 10.27 and a beta of 0.53. The firm has a 50 day simple moving average of $83.41 and a 200-day simple moving average of $86.53. Otter Tail Co. has a 1-year low of $68.96 and a 1-year high of $100.84. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.27 and a quick ratio of 1.67.

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 company had revenue of $342.34 million for the quarter, compared to analysts’ expectations of $367.71 million. During the same quarter in the previous year, the firm posted $1.95 earnings per share. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. On average, equities analysts expect that Otter Tail Co. will post 6.92 EPS for the current year.

Otter Tail Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were given a dividend of $0.468 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.87 dividend on an annualized basis and a yield of 2.50%. Otter Tail’s dividend payout ratio is currently 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.