Investment Centers of America Inc. increased its position in shares of Otter Tail Corporation (NASDAQ:OTTR) by 0.1% during the first quarter, Holdings Channel reports. The firm owned 22,926 shares of the utilities provider’s stock after buying an additional 21 shares during the period. Investment Centers of America Inc. owned 0.06% of Otter Tail Corporation worth $871,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in OTTR. Nisa Investment Advisors LLC increased its position in Otter Tail Corporation by 1.8% in the first quarter. Nisa Investment Advisors LLC now owns 12,220 shares of the utilities provider’s stock worth $463,000 after buying an additional 220 shares during the period. Clinton Group Inc. increased its position in Otter Tail Corporation by 2.5% in the first quarter. Clinton Group Inc. now owns 10,174 shares of the utilities provider’s stock worth $386,000 after buying an additional 250 shares during the period. Sei Investments Co. increased its position in Otter Tail Corporation by 8.3% in the first quarter. Sei Investments Co. now owns 3,574 shares of the utilities provider’s stock worth $136,000 after buying an additional 274 shares during the period. PNC Financial Services Group Inc. increased its position in Otter Tail Corporation by 4.1% in the first quarter. PNC Financial Services Group Inc. now owns 19,186 shares of the utilities provider’s stock worth $727,000 after buying an additional 749 shares during the period. Finally, Whittier Trust Co. increased its position in Otter Tail Corporation by 4.8% in the first quarter. Whittier Trust Co. now owns 29,428 shares of the utilities provider’s stock worth $1,115,000 after buying an additional 1,341 shares during the period. Institutional investors and hedge funds own 39.47% of the company’s stock.
Otter Tail Corporation (NASDAQ OTTR) remained flat at $41.45 during trading on Friday. 285,500 shares of the company were exchanged. The company has a 50-day moving average of $39.25 and a 200 day moving average of $38.72. Otter Tail Corporation has a 52-week low of $31.11 and a 52-week high of $42.55. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of 24.11 and a beta of 0.81.
Otter Tail Corporation (NASDAQ:OTTR) last issued its earnings results on Monday, May 1st. The utilities provider reported $0.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.06. Otter Tail Corporation had a net margin of 8.30% and a return on equity of 10.15%. The company had revenue of $214.10 million for the quarter, compared to analysts’ expectations of $211.80 million. During the same quarter last year, the company posted $0.38 earnings per share. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. On average, equities research analysts forecast that Otter Tail Corporation will post $1.71 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Saturday, June 10th. Investors of record on Monday, May 15th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend was Thursday, May 11th. Otter Tail Corporation’s dividend payout ratio is currently 74.85%.
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OTTR has been the topic of a number of research analyst reports. Zacks Investment Research downgraded Otter Tail Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, April 11th. Sidoti upgraded Otter Tail Corporation from a “neutral” rating to a “buy” rating and set a $46.00 target price on the stock in a research note on Friday, March 24th.
In related news, CFO Kevin G. Moug sold 800 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $37.25, for a total value of $29,800.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.40% of the company’s stock.
Otter Tail Corporation Company Profile
Otter Tail Corporation is a holding company. The Company operates through three segments: Electric, Manufacturing and Plastics. The Electric segment includes the production, transmission, distribution and sale of electric energy in Minnesota, North Dakota and South Dakota by Otter Tail Power Company (OTP).
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