ICA Group Wealth Management LLC Has $94,000 Stock Position in Otter Tail Co. (NASDAQ:OTTR)

ICA Group Wealth Management LLC cut its position in shares of Otter Tail Co. (NASDAQ:OTTR) by 79.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,075 shares of the utilities provider’s stock after selling 4,273 shares during the quarter. ICA Group Wealth Management LLC’s holdings in Otter Tail were worth $94,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Jupiter Asset Management Ltd. bought a new stake in shares of Otter Tail in the 1st quarter valued at approximately $2,276,000. Janus Henderson Group PLC lifted its position in shares of Otter Tail by 45.2% in the first quarter. Janus Henderson Group PLC now owns 29,765 shares of the utilities provider’s stock worth $2,572,000 after buying an additional 9,270 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Otter Tail during the 1st quarter worth about $590,000. Focus Financial Network Inc. ADV acquired a new position in shares of Otter Tail during the 4th quarter valued at about $1,634,000. Finally, Tidal Investments LLC raised its stake in shares of Otter Tail by 320.5% in the 1st quarter. Tidal Investments LLC now owns 16,879 shares of the utilities provider’s stock valued at $1,458,000 after acquiring an additional 12,865 shares in the last quarter. 61.32% of the stock is owned by hedge funds and other institutional investors.

Otter Tail Stock Up 2.3 %

OTTR opened at $78.79 on Monday. The firm has a market cap of $3.29 billion, a P/E ratio of 10.82 and a beta of 0.53. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.67 and a current ratio of 2.27. The business has a 50 day moving average price of $88.18 and a 200 day moving average price of $87.21. Otter Tail Co. has a twelve month low of $68.96 and a twelve 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 the consensus estimate of $1.69 by $0.38. Otter Tail had a net margin of 22.84% and a return on equity of 21.06%. The firm had revenue of $342.34 million for the quarter, compared to the consensus estimate of $367.71 million. During the same quarter last year, the firm posted $1.95 EPS. The business’s quarterly revenue was up 1.4% on a year-over-year basis. Research analysts forecast that Otter Tail Co. will post 6.92 EPS for the current year.

Otter Tail Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were given a $0.468 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.87 annualized dividend and a yield of 2.38%. Otter Tail’s dividend payout ratio is 25.69%.

Insider Transactions at Otter Tail

In other Otter Tail news, VP Jennifer O. Smestad sold 4,000 shares of the company’s 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 of the company’s stock, valued at approximately $1,091,502. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.30% 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.