SG Americas Securities LLC Increases Position in Otter Tail Co. (NASDAQ:OTTR)

SG Americas Securities LLC lifted its holdings in Otter Tail Co. (NASDAQ:OTTR) by 102.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,599 shares of the utilities provider’s stock after purchasing an additional 1,818 shares during the period. SG Americas Securities LLC’s holdings in Otter Tail were worth $281,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Jupiter Asset Management Ltd. purchased a new position in shares of Otter Tail in the 1st quarter valued at about $2,276,000. Janus Henderson Group PLC increased its stake in shares of Otter Tail by 45.2% in the 1st quarter. Janus Henderson Group PLC now owns 29,765 shares of the utilities provider’s stock valued at $2,572,000 after purchasing an additional 9,270 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Otter Tail in the 1st quarter valued at about $590,000. Tidal Investments LLC boosted its holdings in Otter Tail by 320.5% in the 1st quarter. Tidal Investments LLC now owns 16,879 shares of the utilities provider’s stock worth $1,458,000 after buying an additional 12,865 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its holdings in Otter Tail by 113.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 41,199 shares of the utilities provider’s stock worth $3,560,000 after buying an additional 21,908 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 news, VP Jennifer O. Smestad sold 4,000 shares of the business’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 transaction of $354,960.00. Following the transaction, the vice president now directly owns 12,300 shares in the company, valued at $1,091,502. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.30% of the company’s stock.

Otter Tail Trading Down 1.2 %

OTTR stock opened at $78.56 on Monday. The company has a current ratio of 2.27, a quick ratio of 1.67 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. The stock has a market cap of $3.28 billion, a price-to-earnings ratio of 10.79 and a beta of 0.53. The business’s 50-day moving average is $81.08 and its 200 day moving average is $86.13.

Otter Tail (NASDAQ:OTTR) last posted its quarterly earnings data on Monday, August 5th. The utilities provider reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period in the previous year, the firm posted $1.95 EPS. Otter Tail’s revenue was up 1.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Otter Tail Co. will post 6.92 EPS for the current fiscal year.

Otter Tail Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were issued a $0.468 dividend. This represents a $1.87 annualized dividend and a yield of 2.38%. The ex-dividend date was Thursday, August 15th. Otter Tail’s payout ratio is 25.69%.

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.