Otter Tail Corporation (OTTR) Shares Sold by Gamco Investors INC. ET AL
Gamco Investors INC. ET AL lowered its position in shares of Otter Tail Corporation (NASDAQ:OTTR) by 1.3% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 395,000 shares of the company’s stock after selling 5,000 shares during the period. Gamco Investors INC. ET AL owned approximately 1.01% of Otter Tail Corporation worth $16,116,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in OTTR. Teachers Advisors LLC boosted its position in shares of Otter Tail Corporation by 202.4% in the third quarter. Teachers Advisors LLC now owns 316,691 shares of the company’s stock worth $10,954,000 after buying an additional 211,982 shares during the last quarter. James Investment Research Inc. purchased a new position in shares of Otter Tail Corporation during the third quarter worth approximately $1,531,000. First Trust Advisors LP boosted its position in shares of Otter Tail Corporation by 3.3% in the third quarter. First Trust Advisors LP now owns 399,264 shares of the company’s stock worth $13,811,000 after buying an additional 12,770 shares during the last quarter. Miller Howard Investments Inc. NY boosted its position in shares of Otter Tail Corporation by 0.6% in the third quarter. Miller Howard Investments Inc. NY now owns 53,860 shares of the company’s stock worth $1,863,000 after buying an additional 296 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Otter Tail Corporation by 5.5% in the third quarter. Bank of New York Mellon Corp now owns 379,356 shares of the company’s stock worth $13,123,000 after buying an additional 19,928 shares during the last quarter. 37.58% of the stock is owned by institutional investors and hedge funds.
Shares of Otter Tail Corporation (NASDAQ:OTTR) traded down 1.18% during trading on Friday, hitting $37.60. The company’s stock had a trading volume of 26,032 shares. Otter Tail Corporation has a one year low of $26.50 and a one year high of $42.55. The company has a 50-day moving average price of $38.53 and a 200-day moving average price of $36.69. The stock has a market cap of $1.48 billion, a PE ratio of 23.40 and a beta of 0.76.
Otter Tail Corporation (NASDAQ:OTTR) last released its quarterly earnings results on Monday, February 6th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.01. Otter Tail Corporation had a return on equity of 9.76% and a net margin of 7.76%. The firm had revenue of $196.90 million for the quarter, compared to analyst estimates of $192.40 million. During the same quarter last year, the company posted $0.41 earnings per share. The business’s revenue was up 4.2% on a year-over-year basis. Equities analysts predict that Otter Tail Corporation will post $1.71 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 10th. Investors of record on Wednesday, February 15th will be issued a dividend of $0.32 per share. The ex-dividend date is Monday, February 13th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.36%. This is a positive change from Otter Tail Corporation’s previous quarterly dividend of $0.31. Otter Tail Corporation’s dividend payout ratio (DPR) is currently 80.00%.
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A number of equities analysts have commented on OTTR shares. Zacks Investment Research cut Otter Tail Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, December 20th. Sidoti started coverage on Otter Tail Corporation in a report on Wednesday, December 7th. They set a “neutral” rating and a $40.00 target price for the company. Finally, Williams Capital started coverage on Otter Tail Corporation in a report on Monday, February 6th. They set a “hold” rating and a $36.00 target price for the company.
In related news, CFO Kevin G. Moug sold 800 shares of the firm’s stock in a transaction dated Wednesday, February 15th. The stock was sold at an average price of $37.80, for a total transaction of $30,240.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, 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 value of $108,257.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,200 shares of company stock worth $158,397. Corporate insiders own 1.60% of the company’s stock.
About Otter Tail Corporation
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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