Otter Tail Corp. (OTTR) Director John D. Erickson Sells 2,900 Shares
Otter Tail Corp. (NASDAQ:OTTR) Director John D. Erickson sold 2,900 shares of the firm’s stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $37.33, for a total transaction of $108,257.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Otter Tail Corp. (NASDAQ:OTTR) traded up 0.53% during trading on Tuesday, reaching $37.75. 4,986 shares of the company were exchanged. Otter Tail Corp. has a one year low of $25.20 and a one year high of $37.80. The firm’s 50 day moving average price is $35.01 and its 200-day moving average price is $33.60. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of 24.32 and a beta of 0.69.
Otter Tail Corp. (NASDAQ:OTTR) last issued its earnings results on Wednesday, November 2nd. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by $0.08. The company had revenue of $197.20 million for the quarter, compared to analyst estimates of $204 million. Otter Tail Corp. had a net margin of 7.46% and a return on equity of 9.57%. The company’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period last year, the business earned $0.42 EPS. On average, equities research analysts predict that Otter Tail Corp. will post $1.58 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Saturday, December 10th. Shareholders of record on Tuesday, November 15th will be paid a dividend of $0.3125 per share. This represents a $1.25 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date of this dividend is Thursday, November 10th. Otter Tail Corp.’s dividend payout ratio (DPR) is currently 80.65%.
Several large investors have recently modified their holdings of OTTR. Public Employees Retirement System of Ohio raised its stake 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 last quarter. US Bancorp DE raised its stake in Otter Tail Corp. by 0.4% in the second quarter. US Bancorp DE now owns 27,106 shares of the company’s stock valued at $908,000 after buying an additional 100 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Otter Tail Corp. by 1.5% in the second quarter. Ameriprise Financial Inc. now owns 7,485 shares of the company’s stock valued at $251,000 after buying an additional 113 shares during the last quarter. California State Teachers Retirement System raised its stake in Otter Tail Corp. by 0.3% in the second quarter. California State Teachers Retirement System now owns 79,637 shares of the company’s stock valued at $2,667,000 after buying an additional 201 shares during the last quarter. Finally, BlackRock Group LTD raised its stake in Otter Tail Corp. by 0.7% in the third quarter. BlackRock Group LTD now owns 31,095 shares of the company’s stock valued at $1,077,000 after buying an additional 228 shares during the last quarter. 36.96% of the stock is owned by institutional investors.
Separately, Zacks Investment Research lowered shares of Otter Tail Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, September 20th.
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.
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