Victory Capital Management Inc. Purchases 1,483 Shares of Otter Tail Corporation (OTTR)
Victory Capital Management Inc. raised its position in Otter Tail Corporation (NASDAQ:OTTR) by 8.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,841 shares of the utilities provider’s stock after acquiring an additional 1,483 shares during the quarter. Victory Capital Management Inc. owned approximately 0.05% of Otter Tail Corporation worth $786,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Otter Tail Corporation by 4.6% in the first quarter. Vanguard Group Inc. now owns 3,433,149 shares of the utilities provider’s stock valued at $130,116,000 after acquiring an additional 151,826 shares during the period. BlackRock Inc. lifted its holdings in Otter Tail Corporation by 20,638.1% in the first quarter. BlackRock Inc. now owns 2,477,375 shares of the utilities provider’s stock valued at $93,893,000 after acquiring an additional 2,465,429 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Otter Tail Corporation by 0.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,119,802 shares of the utilities provider’s stock valued at $42,441,000 after acquiring an additional 9,268 shares during the period. First Trust Advisors LP lifted its holdings in Otter Tail Corporation by 5.4% in the second quarter. First Trust Advisors LP now owns 531,701 shares of the utilities provider’s stock valued at $21,055,000 after acquiring an additional 27,186 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in Otter Tail Corporation by 18.0% in the first quarter. Renaissance Technologies LLC now owns 428,400 shares of the utilities provider’s stock valued at $16,236,000 after acquiring an additional 65,500 shares during the period. 40.60% of the stock is currently owned by institutional investors.
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Otter Tail Corporation (OTTR) opened at 43.00 on Friday. The stock has a 50 day moving average price of $41.68 and a 200 day moving average price of $39.58. Otter Tail Corporation has a 1-year low of $33.08 and a 1-year high of $43.30. The company has a market cap of $1.70 billion, a P/E ratio of 24.76 and a beta of 0.79.
Otter Tail Corporation (NASDAQ:OTTR) last posted its quarterly earnings results on Monday, August 7th. The utilities provider reported $0.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.01. The business had revenue of $212.10 million for the quarter, compared to the consensus estimate of $211.30 million. Otter Tail Corporation had a return on equity of 10.14% and a net margin of 8.35%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.41 EPS. On average, equities research analysts anticipate that Otter Tail Corporation will post $1.75 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Saturday, September 9th. Stockholders of record on Tuesday, August 15th were issued a $0.32 dividend. The ex-dividend date was Friday, August 11th. This represents a $1.28 annualized dividend and a dividend yield of 2.98%. Otter Tail Corporation’s dividend payout ratio (DPR) is presently 74.42%.
In other news, CFO Kevin G. Moug sold 1,500 shares of the business’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $41.75, for a total value of $62,625.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.40% of the company’s stock.
A number of research analysts have weighed in on OTTR shares. BidaskClub downgraded Otter Tail Corporation from a “buy” rating to a “hold” rating in a report on Thursday, June 22nd. Zacks Investment Research raised Otter Tail Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th.
Otter Tail Corporation Profile
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).
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