Otter Tail Corp. (OTTR) Downgraded to Hold at Zacks Investment Research
According to Zacks, “OTTER TAIL’s primary business is the production, transmission, distribution and sale of electric energy. The Company, through its subsidiaries, is also engaged in other businesses which are referred to as Health Services Operations and Diversified Operations. “
Otter Tail Corp. (NASDAQ:OTTR) traded up 0.51% during trading on Tuesday, reaching $35.42. The company had a trading volume of 5,435 shares. The company has a 50-day moving average of $34.57 and a 200-day moving average of $31.59. The firm has a market capitalization of $1.37 billion, a P/E ratio of 22.29 and a beta of 0.76. Otter Tail Corp. has a 52-week low of $25.20 and a 52-week high of $35.88.
Otter Tail Corp. (NASDAQ:OTTR) last posted its earnings results on Monday, August 8th. The company reported $0.41 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.03. The company earned $203.50 million during the quarter, compared to analyst estimates of $194 million. Otter Tail Corp. had a return on equity of 9.98% and a net margin of 7.53%. The business’s revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.36 earnings per share. Analysts expect that Otter Tail Corp. will post $1.60 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Saturday, September 10th. Stockholders of record on Monday, August 15th were issued a dividend of $0.3125 per share. This represents a $1.25 annualized dividend and a dividend yield of 3.55%. The ex-dividend date of this dividend was Thursday, August 11th. Otter Tail Corp.’s dividend payout ratio (DPR) is presently 78.62%.
In other news, CFO Kevin G. Moug sold 800 shares of the company’s stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $34.07, for a total transaction of $27,256.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Paul L. Knutson sold 1,700 shares of the company’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $34.50, for a total value of $58,650.00. The disclosure for this sale can be found here. Insiders own 1.60% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio raised its position in Otter Tail Corp. by 0.6% in the second quarter. Public Employees Retirement System of Ohio now owns 3,619 shares of the company’s stock valued at $121,000 after buying an additional 22 shares during the period. Emerald Acquisition Ltd. acquired a new position in shares of Otter Tail Corp. during the second quarter valued at about $171,000. AXA acquired a new position in shares of Otter Tail Corp. during the first quarter valued at about $185,000. North Point Portfolio Managers Corp OH acquired a new position in shares of Otter Tail Corp. during the second quarter valued at about $204,000. Finally, Legal & General Group Plc increased its position in shares of Otter Tail Corp. by 7.7% in the first quarter. Legal & General Group Plc now owns 7,627 shares of the company’s stock valued at $225,000 after buying an additional 546 shares in the last quarter. 35.92% of the stock is owned by institutional investors.
About Otter Tail Corp.
Otter Tail Corporation is a holding company. The Company, through its subsidiaries, operates through three segments: Electric, Manufacturing and Plastics. The Company’s subsidiaries own facilities and equipment used in the manufacture of producing polyvinyl chloride (PVC) pipe, thermoformed products, heavy metal fabricated products, metal parts stamping, fabricating, painting and contract machining.
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