USA Financial Formulas Has $65,000 Stock Position in Otter Tail Co. (NASDAQ:OTTR)

USA Financial Formulas lessened its stake in Otter Tail Co. (NASDAQ:OTTR) by 14.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 832 shares of the utilities provider’s stock after selling 135 shares during the quarter. USA Financial Formulas’ holdings in Otter Tail were worth $65,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jupiter Asset Management Ltd. bought a new position in shares of Otter Tail in the 1st quarter valued at about $2,276,000. Janus Henderson Group PLC raised its stake in Otter Tail by 45.2% in the first quarter. Janus Henderson Group PLC now owns 29,765 shares of the utilities provider’s stock valued at $2,572,000 after buying an additional 9,270 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Otter Tail in the first quarter valued at approximately $590,000. Tidal Investments LLC lifted its position in shares of Otter Tail by 320.5% in the first quarter. Tidal Investments LLC now owns 16,879 shares of the utilities provider’s stock valued at $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 stake in shares of Otter Tail by 113.6% during 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 acquiring an additional 21,908 shares during the period. 61.32% of the stock is owned by institutional investors.

Otter Tail Stock Up 0.3 %

OTTR opened at $75.61 on Friday. The stock’s fifty day simple moving average is $82.58 and its 200 day simple moving average is $86.38. Otter Tail Co. has a 1-year low of $68.96 and a 1-year high of $100.84. The stock has a market cap of $3.16 billion, a PE ratio of 10.22 and a beta of 0.53. 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 (NASDAQ:OTTR) last announced its earnings results on Monday, August 5th. The utilities provider reported $2.07 EPS for the quarter, topping the consensus estimate of $1.69 by $0.38. The business had revenue of $342.34 million during 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%. Otter Tail’s revenue was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.95 EPS. As a group, research analysts expect that Otter Tail Co. will post 6.92 earnings per share for the current year.

Otter Tail Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were issued a dividend of $0.468 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.87 annualized dividend and a yield of 2.48%. Otter Tail’s payout ratio is currently 25.27%.

Insider Activity at Otter Tail

In other news, VP Jennifer O. Smestad sold 4,000 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $88.74, for a total value of $354,960.00. Following the completion of the sale, the vice president now owns 12,300 shares of the company’s stock, valued at approximately $1,091,502. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.30% of the stock is currently owned by corporate insiders.

About Otter Tail

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.