Otter Tail Corporation $OTTR Shares Sold by Savant Capital LLC

Savant Capital LLC cut its holdings in Otter Tail Corporation (NASDAQ:OTTR) by 20.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,742 shares of the utilities provider’s stock after selling 985 shares during the period. Savant Capital LLC’s holdings in Otter Tail were worth $288,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of OTTR. HighMark Wealth Management LLC bought a new position in Otter Tail in the second quarter worth about $26,000. MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of Otter Tail during the 1st quarter worth approximately $34,000. Costello Asset Management INC bought a new stake in shares of Otter Tail in the 1st quarter worth approximately $66,000. Armstrong Advisory Group Inc. lifted its holdings in shares of Otter Tail by 93.0% in the 2nd quarter. Armstrong Advisory Group Inc. now owns 1,660 shares of the utilities provider’s stock worth $128,000 after purchasing an additional 800 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new position in Otter Tail during the 1st quarter valued at approximately $145,000. Institutional investors own 61.32% of the company’s stock.

Analyst Upgrades and Downgrades

OTTR has been the topic of a number of recent research reports. Zacks Research upgraded Otter Tail to a “hold” rating in a research note on Friday, October 17th. Weiss Ratings upgraded shares of Otter Tail from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Saturday, October 25th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $83.00.

Otter Tail Price Performance

Shares of OTTR opened at $81.95 on Wednesday. Otter Tail Corporation has a one year low of $71.66 and a one year high of $86.22. The stock’s fifty day moving average is $80.73 and its 200-day moving average is $79.76. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.57 and a current ratio of 3.31. The firm has a market capitalization of $3.43 billion, a price-to-earnings ratio of 12.05 and a beta of 0.56.

Otter Tail (NASDAQ:OTTR) last posted its quarterly earnings data on Tuesday, November 4th. The utilities provider reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.80 by $0.06. The business had revenue of $325.56 million during the quarter, compared to the consensus estimate of $337.40 million. Otter Tail had a net margin of 21.82% and a return on equity of 16.85%. The company’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.03 earnings per share. Equities analysts anticipate that Otter Tail Corporation will post 5.88 EPS for the current year.

Otter Tail Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 14th will be issued a $0.525 dividend. The ex-dividend date is Friday, November 14th. This represents a $2.10 annualized dividend and a dividend yield of 2.6%. Otter Tail’s dividend payout ratio (DPR) is 31.67%.

About Otter Tail

Otter Tail Corporation, together with its subsidiaries, engages in electric utility, manufacturing, and plastic pipe businesses in the United States. It operates through three segments: Electric, Manufacturing, and Plastics. The Electric segment produces, transmits, distributes, and sells electric energy in Minnesota, North Dakota, and South Dakota; and operates as a participant in the Midcontinent Independent System Operator markets.