Zacks Investment Research lowered shares of Otter Tail Corporation (NASDAQ:OTTR) from a buy rating to a hold rating in a report issued on Tuesday.

According to Zacks, “OTTER TAIL’s primary business is the production, transmission, distribution and sale of electric energy. The Company, through its subsidiaries, is also engaged in other businesses which are referred to as Health Services Operations and Diversified Operations. “

Separately, BidaskClub downgraded Otter Tail Corporation from a hold rating to a sell rating in a research report on Wednesday, July 19th.

Shares of Otter Tail Corporation (NASDAQ:OTTR) opened at 42.80 on Tuesday. The company has a 50-day moving average of $41.82 and a 200 day moving average of $39.68. Otter Tail Corporation has a 12-month low of $33.08 and a 12-month high of $43.30. The company has a market cap of $1.69 billion, a PE ratio of 24.64 and a beta of 0.79.

Otter Tail Corporation (NASDAQ:OTTR) last announced its quarterly earnings data on Monday, August 7th. The utilities provider reported $0.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.01. The company 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%. Otter Tail Corporation’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.41 EPS. On average, equities research analysts expect that Otter Tail Corporation will post $1.75 EPS for the current year.

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The company also recently declared a quarterly dividend, which was paid on Saturday, September 9th. Stockholders of record on Tuesday, August 15th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date was Friday, August 11th. Otter Tail Corporation’s payout ratio is 74.42%.

In other news, CFO Kevin G. Moug sold 1,500 shares of the stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $41.75, for a total transaction of $62,625.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.40% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of OTTR. Old Mutual Global Investors UK Ltd. bought a new position in shares of Otter Tail Corporation during the 2nd quarter worth $107,000. North Star Investment Management Corp. grew its position in shares of Otter Tail Corporation by 91.9% during the 2nd quarter. North Star Investment Management Corp. now owns 2,905 shares of the utilities provider’s stock worth $115,000 after buying an additional 1,391 shares in the last quarter. Ameritas Investment Partners Inc. bought a new position in shares of Otter Tail Corporation during the 1st quarter worth $119,000. Sei Investments Co. grew its position in shares of Otter Tail Corporation by 8.3% during the 1st quarter. Sei Investments Co. now owns 3,574 shares of the utilities provider’s stock worth $136,000 after buying an additional 274 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. bought a new position in shares of Otter Tail Corporation during the 2nd quarter worth $173,000. 40.60% of the stock is currently owned by institutional investors and hedge funds.

About Otter Tail Corporation

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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