Otter Tail Corp. (OTTR) Sets New 12-Month High at $35.90
Otter Tail Corp. (NASDAQ:OTTR) reached a new 52-week high on Wednesday . The company traded as high as $35.90 and last traded at $35.90, with a volume of 107,826 shares traded. The stock had previously closed at $35.24.
Separately, Zacks Investment Research lowered shares of Otter Tail Corp. from a “buy” rating to a “hold” rating in a report on Tuesday.
The firm has a market cap of $1.39 billion, a PE ratio of 22.59 and a beta of 0.76. The firm has a 50 day moving average price of $34.61 and a 200-day moving average price of $31.62.
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Otter Tail Corp. (NASDAQ:OTTR) last issued its earnings results on Monday, August 8th. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.03. The firm earned $203.50 million during the quarter, compared to analyst estimates of $194 million. Otter Tail Corp. had a net margin of 7.53% and a return on equity of 9.98%. The company’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the business earned $0.36 earnings per share. On average, equities research analysts predict that Otter Tail Corp. will post $1.60 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Saturday, September 10th. Shareholders of record on Monday, August 15th were given a dividend of $0.3125 per share. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $1.25 dividend on an annualized basis and a yield of 3.48%. Otter Tail Corp.’s dividend payout ratio is presently 78.62%.
In other Otter Tail Corp. news, VP Paul L. Knutson sold 1,700 shares of the stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $34.50, for a total transaction of $58,650.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Kevin G. Moug sold 800 shares of the stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $34.07, for a total transaction of $27,256.00. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio raised its position 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 worth $121,000 after buying an additional 22 shares during the period. Emerald Acquisition Ltd. purchased a new position in Otter Tail Corp. during the second quarter worth approximately $171,000. North Point Portfolio Managers Corp OH purchased a new position in Otter Tail Corp. during the second quarter worth approximately $204,000. AXA purchased a new position in Otter Tail Corp. during the first quarter worth approximately $185,000. Finally, Advisor Group Inc. purchased a new position in Otter Tail Corp. during the second quarter worth approximately $239,000. Institutional investors own 35.92% 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.
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