Investment Centers of America Inc. decreased its position in shares of Otter Tail Corporation (NASDAQ:OTTR) by 35.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,066 shares of the utilities provider’s stock after selling 8,695 shares during the quarter. Investment Centers of America Inc.’s holdings in Otter Tail were worth $697,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in OTTR. Vanguard Group Inc. grew its stake in Otter Tail by 2.2% during the second quarter. Vanguard Group Inc. now owns 3,507,682 shares of the utilities provider’s stock valued at $138,904,000 after acquiring an additional 74,533 shares in the last quarter. BlackRock Inc. grew its stake in shares of Otter Tail by 0.9% in the 2nd quarter. BlackRock Inc. now owns 2,498,815 shares of the utilities provider’s stock worth $98,953,000 after buying an additional 21,440 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Otter Tail by 0.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,125,136 shares of the utilities provider’s stock worth $44,556,000 after acquiring an additional 5,334 shares during the last quarter. Northern Trust Corp grew its position in Otter Tail by 8.3% during the 2nd quarter. Northern Trust Corp now owns 956,660 shares of the utilities provider’s stock worth $37,885,000 after purchasing an additional 72,974 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of Otter Tail by 5.1% in the 2nd quarter. State Street Corp now owns 809,030 shares of the utilities provider’s stock valued at $32,041,000 after purchasing an additional 38,942 shares during the period. Institutional investors and hedge funds own 41.16% of the company’s stock.

Shares of Otter Tail Corporation (NASDAQ:OTTR) opened at $48.30 on Friday. Otter Tail Corporation has a fifty-two week low of $35.65 and a fifty-two week high of $48.65. The company has a market capitalization of $1,888.87, a price-to-earnings ratio of 26.53 and a beta of 0.81. The company has a current ratio of 0.93, a quick ratio of 0.61 and a debt-to-equity ratio of 0.71.

Otter Tail (NASDAQ:OTTR) last announced its earnings results on Wednesday, November 1st. The utilities provider reported $0.45 EPS for the quarter, beating the consensus estimate of $0.39 by $0.06. Otter Tail had a return on equity of 10.47% and a net margin of 8.53%. The business had revenue of $216.50 million during the quarter, compared to the consensus estimate of $201.70 million. During the same period in the prior year, the business posted $0.37 earnings per share. Otter Tail’s revenue was up 9.8% compared to the same quarter last year. sell-side analysts anticipate that Otter Tail Corporation will post 1.78 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, December 9th. Investors of record on Wednesday, November 15th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 2.65%. The ex-dividend date is Tuesday, November 14th. Otter Tail’s dividend payout ratio is currently 71.11%.

In other Otter Tail news, VP George A. Koeck sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $46.50, for a total value of $139,500.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Kevin G. Moug sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $46.50, for a total value of $69,750.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,900 shares of company stock valued at $318,570. Company insiders own 1.40% of the company’s stock.

OTTR has been the subject of several research analyst reports. Zacks Investment Research lowered shares of Otter Tail from a “buy” rating to a “hold” rating in a research note on Thursday, August 31st. KeyCorp reissued a “hold” rating on shares of Otter Tail in a report on Friday, October 20th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $44.67.

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About Otter Tail

Otter Tail Corporation is a holding company. The Company operates through three segments: Electric, Manufacturing and Plastics. The Electric segment includes the production, transmission, distribution and sale of electric energy in Minnesota, North Dakota and South Dakota by Otter Tail Power Company (OTP).

Institutional Ownership by Quarter for Otter Tail (NASDAQ:OTTR)

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