2 weeks Ago By ABMN Staff
Texas Permanent School Fund Corp trimmed its holdings in Otter Tail Co. ( NASDAQ:OTTR – Free Report ) by 14.5% in the second quarter, HoldingsChannel.
com reports. The institutional investor owned 31,218 shares of the utilities provider’s stock after selling 5,287 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Otter Tail were worth $2,734,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in 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 position in Otter Tail by 32.
9% in the 4th quarter. Quadrant Capital Group LLC now owns 590 shares of the utilities provider’s stock worth $50,000 after purchasing an additional 146 shares during the last quarter. GAMMA Investing LLC lifted 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 worth $58,000 after buying an additional 208 shares in the last quarter. Mather Group LLC.
bought a new position in Otter Tail in the 2nd quarter valued at $77,000. Finally, Blue Trust Inc. increased its stake in shares of Otter Tail by 46.
4% in 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 during the period.
Institutional investors and hedge funds own 61.32% of the company’s stock. Insider Buying and Selling at Otter Tail In other news, VP Jennifer O.
Smestad sold 4,000 shares of the firm’s stock in a transaction 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 transaction, the vice president now directly owns 12,300 shares in the company, valued at approximately $1,091,502. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website .
Corporate insiders own 2.30% of the company’s stock. Otter Tail Trading Up 0.
4 % Otter Tail ( NASDAQ:OTTR – Get Free Report ) last announced its quarterly earnings data on Monday, August 5th. The utilities provider reported $2.07 earnings per share for the quarter, topping the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the business posted $1.95 EPS.
As a group, equities research analysts expect that Otter Tail Co. will post 6.92 EPS for the current year.
Otter Tail Dividend Announcement The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were issued a dividend of $0.468 per share.
This represents a $1.87 dividend on an annualized basis and a yield of 2.37%.
The ex-dividend date was Thursday, August 15th. Otter Tail’s dividend payout ratio is presently 25.69%.
Otter Tail Company Profile ( Free Report ) 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.
Further Reading Want to see what other hedge funds are holding OTTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Otter Tail Co. ( NASDAQ:OTTR – Free Report ).
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