Whittier Trust Co. Increases Stock Holdings in Otter Tail Co. (NASDAQ:OTTR)

Whittier Trust Co. boosted its position in Otter Tail Co. (NASDAQ:OTTR) by 5.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 78,140 shares of the utilities provider’s stock after purchasing an additional 3,841 shares during the period. Whittier Trust Co. owned about 0.19% of Otter Tail worth $6,844,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of OTTR. Atticus Wealth Management LLC bought a new position in shares of Otter Tail in the second quarter worth about $33,000. Quadrant Capital Group LLC raised its stake in Otter Tail by 32.9% during the 4th quarter. Quadrant Capital Group LLC now owns 590 shares of the utilities provider’s stock valued at $50,000 after purchasing an additional 146 shares during the period. GAMMA Investing LLC grew its holdings in Otter Tail by 46.3% during the 2nd quarter. GAMMA Investing LLC now owns 657 shares of the utilities provider’s stock valued at $58,000 after buying an additional 208 shares in the last quarter. Mather Group LLC. purchased a new position in Otter Tail during the 2nd quarter valued at approximately $77,000. Finally, Blue Trust Inc. grew its holdings in Otter Tail by 46.4% during the 2nd quarter. Blue Trust Inc. now owns 1,580 shares of the utilities provider’s stock valued at $137,000 after buying an additional 501 shares in the last quarter. 61.32% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Otter Tail

In other news, VP Jennifer O. Smestad sold 4,000 shares of Otter Tail stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $88.74, for a total value 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 2.30% of the company’s stock.

Otter Tail Price Performance

NASDAQ OTTR traded down $0.65 during trading on Thursday, hitting $84.06. 69,011 shares of the stock traded hands, compared to its average volume of 221,850. The company has a market capitalization of $3.51 billion, a P/E ratio of 11.64 and a beta of 0.55. The firm has a 50-day simple moving average of $89.85 and a 200-day simple moving average of $88.03. The company has a quick ratio of 1.67, a current ratio of 2.27 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.

Otter Tail (NASDAQ:OTTR) last announced its earnings results on Monday, August 5th. The utilities provider reported $2.07 EPS for the quarter, topping analysts’ consensus estimates of $1.69 by $0.38. The firm had revenue of $342.34 million during the quarter, compared to analysts’ expectations of $367.71 million. Otter Tail had a return on equity of 21.06% and a net margin of 22.84%. The company’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.95 EPS. As a group, analysts predict that Otter Tail Co. will post 6.92 EPS for the current year.

Otter Tail Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be issued a $0.468 dividend. This represents a $1.87 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date is Thursday, August 15th. Otter Tail’s dividend payout ratio (DPR) is 25.69%.

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.