Jennifer O. Smestad Sells 4,000 Shares of Otter Tail Co. (NASDAQ:OTTR) Stock

Otter Tail Co. (NASDAQ:OTTR) 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 in the company, valued at $1,091,502. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Otter Tail Stock Performance

Shares of OTTR stock traded down $1.69 during midday trading on Wednesday, hitting $87.57. 54,070 shares of the company were exchanged, compared to its average volume of 224,436. Otter Tail Co. has a 52 week low of $68.96 and a 52 week high of $100.84. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.21 and a current ratio of 2.92. The firm has a market capitalization of $3.66 billion, a P/E ratio of 12.26 and a beta of 0.55. The firm’s 50 day moving average price is $89.71 and its two-hundred day moving average price is $88.40.

Otter Tail (NASDAQ:OTTR) last issued its quarterly earnings data on Monday, August 5th. The utilities provider reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.69 by $0.38. Otter Tail had a return on equity of 21.58% and a net margin of 22.55%. The business had revenue of $342.34 million for the quarter, compared to analyst estimates of $367.71 million. During the same quarter in the previous year, the company posted $1.95 EPS. Otter Tail’s quarterly revenue 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 firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be paid a $0.468 dividend. The ex-dividend date is Thursday, August 15th. This represents a $1.87 dividend on an annualized basis and a dividend yield of 2.14%. Otter Tail’s payout ratio is presently 25.69%.

Institutional Trading of Otter Tail

Hedge funds and other institutional investors have recently modified their holdings of the business. Atticus Wealth Management LLC purchased a new stake in shares of Otter Tail in the 2nd quarter worth approximately $33,000. Quadrant Capital Group LLC raised its stake in shares of Otter Tail by 32.9% in the fourth quarter. Quadrant Capital Group LLC now owns 590 shares of the utilities provider’s stock worth $50,000 after buying an additional 146 shares during the period. GAMMA Investing LLC increased its stake in Otter Tail by 46.3% in 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 stake in shares of Otter Tail in the second quarter worth about $77,000. Finally, Financial Perspectives Inc bought a new stake in Otter Tail during the fourth quarter worth approximately $88,000. Institutional investors own 61.32% of the company’s stock.

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.