Otter Tail Co. (NASDAQ:OTTR) Shares Sold by Bremer Bank National Association

Bremer Bank National Association lowered its position in shares of Otter Tail Co. (NASDAQ:OTTR) by 10.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,384 shares of the utilities provider’s stock after selling 1,000 shares during the quarter. Bremer Bank National Association’s holdings in Otter Tail were worth $734,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of OTTR. SG Americas Securities LLC acquired a new position in shares of Otter Tail during the 4th quarter valued at about $184,000. Raymond James & Associates boosted its holdings in shares of Otter Tail by 10.1% in the 4th quarter. Raymond James & Associates now owns 22,171 shares of the utilities provider’s stock valued at $1,884,000 after purchasing an additional 2,025 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in shares of Otter Tail during the 4th quarter valued at $130,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Otter Tail by 6.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,993 shares of the utilities provider’s stock worth $1,614,000 after buying an additional 1,097 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its position in shares of Otter Tail by 47.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 5,290 shares of the utilities provider’s stock worth $449,000 after buying an additional 1,705 shares during the period. 61.32% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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 shares were sold at an average price of $88.74, for a total value of $354,960.00. Following the transaction, the vice president now owns 12,300 shares in the company, valued at approximately $1,091,502. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.30% of the stock is owned by company insiders.

Otter Tail Trading Down 1.8 %

Shares of Otter Tail stock traded down $1.58 during trading hours on Wednesday, reaching $87.68. The stock had a trading volume of 179,843 shares, compared to its average volume of 225,243. The company has a current ratio of 2.92, a quick ratio of 2.21 and a debt-to-equity ratio of 0.63. Otter Tail Co. has a 1 year low of $68.96 and a 1 year high of $100.84. The firm has a market capitalization of $3.67 billion, a price-to-earnings ratio of 12.04 and a beta of 0.55. The firm has a 50 day simple moving average of $89.71 and a two-hundred day simple moving average of $88.40.

Otter Tail (NASDAQ:OTTR) last issued its earnings results on Monday, August 5th. The utilities provider reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $1.69 by $0.38. Otter Tail had a net margin of 22.55% and a return on equity of 21.58%. The business had revenue of $342.34 million for the quarter, compared to the consensus estimate of $367.71 million. During the same quarter last year, the firm posted $1.95 EPS. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Otter Tail Co. will post 6.35 earnings per share for the current year.

Otter Tail Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be given a dividend of $0.468 per share. This represents a $1.87 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend is Thursday, August 15th. Otter Tail’s dividend payout ratio (DPR) is presently 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.