Eqis Capital Management Inc. acquired a new stake in shares of Otter Tail Corp. (NASDAQ:OTTR) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 9,177 shares of the company’s stock, valued at approximately $317,000.
A number of other hedge funds have also made changes to their positions in OTTR. Public Employees Retirement System of Ohio boosted its stake in shares of 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 last quarter. Emerald Acquisition Ltd. acquired a new stake in shares of Otter Tail Corp. during the second quarter valued at approximately $171,000. North Point Portfolio Managers Corp OH acquired a new stake in shares of Otter Tail Corp. during the second quarter valued at approximately $204,000. AXA acquired a new stake in shares of Otter Tail Corp. during the first quarter valued at approximately $185,000. Finally, Advisor Group Inc. acquired a new stake in shares of Otter Tail Corp. during the second quarter valued at approximately $239,000. Institutional investors and hedge funds own 36.96% of the company’s stock.
Otter Tail Corp. (NASDAQ:OTTR) traded up 2.10% during trading on Friday, hitting $38.95. 30,084 shares of the company traded hands. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of 25.10 and a beta of 0.69. The company’s 50-day moving average is $35.47 and its 200 day moving average is $33.75. Otter Tail Corp. has a 52-week low of $25.20 and a 52-week high of $38.95.
Otter Tail Corp. (NASDAQ:OTTR) last released its earnings results on Wednesday, November 2nd. The company reported $0.37 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.45 by $0.08. Otter Tail Corp. had a return on equity of 9.57% and a net margin of 7.46%. The firm had revenue of $197.20 million for the quarter, compared to analysts’ expectations of $204 million. During the same quarter in the previous year, the company posted $0.42 earnings per share. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. On average, equities analysts anticipate that Otter Tail Corp. will post $1.58 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Saturday, December 10th. Investors of record on Tuesday, November 15th will be paid a dividend of $0.3125 per share. The ex-dividend date of this dividend is Thursday, November 10th. This represents a $1.25 dividend on an annualized basis and a dividend yield of 3.21%. Otter Tail Corp.’s payout ratio is 80.65%.
Separately, Zacks Investment Research cut shares of Otter Tail Corp. from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 9th.
In other Otter Tail Corp. news, CFO Kevin G. Moug sold 800 shares of the stock in a transaction that occurred on Thursday, November 10th. The shares were sold at an average price of $35.20, for a total value of $28,160.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director John D. Erickson sold 2,900 shares of the stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $37.33, for a total transaction of $108,257.00. The disclosure for this sale can be found here. Corporate insiders own 1.60% of the company’s stock.
Otter Tail Corp. Company Profile
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.