Cwm LLC owns $1.07 million in Otter Tail Co. (NASDAQ:OTTR)

Cwm LLC reduced its stake in shares of Otter Tail Co. (NASDAQ:OTTR – Free Report) by 9.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,244 shares of the utilities provider’s stock after selling 1,336 shares during the quarter. Cwm LLC’s holdings in Otter Tail were worth $1,072,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the company. Quadrant Capital Group LLC boosted its stake in Otter Tail by 32.9% in the fourth quarter. Quadrant Capital Group LLC now owns 590 shares of the utilities provider’s stock valued at $50,000 after buying an additional 146 shares during the last quarter. New York State Common Retirement Fund increased its position in shares of Otter Tail by 0.3% during the 4th quarter. New York State Common Retirement Fund now owns 48,433 shares of the utilities provider’s stock, valued at 4,115,000 USD after buying an additional 163 shares in the last quarter. Private Advisor Group LLC boosted its holdings in Otter Tail by 4.1% in the fourth quarter. Private Advisor Group LLC now owns 5,214 shares of the utilities provider’s stock worth $443,000 after acquiring an additional 204 shares in the last quarter. GAMMA Investing LLC boosted its stake in Otter Tail by 46.3% in the second quarter. GAMMA Investing LLC now owns 657 shares of the utilities provider’s stock valued at $58,000 after acquiring an additional 208 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Otter Tail by 4.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,409 shares of the utilities provider’s stock worth $715,000 after acquiring an additional 358 shares during the period. 61.32% of the shares are currently owned by institutional investors and hedge funds.

Insiders place their bets

In related news, VP Paul L. Knutson sold 4,000 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $90.66, for a total transaction of $362,640.00. Following the completion of the transaction, the vice president now directly owns 20,359 shares of the company’s stock, valued at $1,845,746.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC’s website. Insiders own 2.30% of the company’s shares.

Otter tail stock up 0.1%

Shares of NASDAQ OTTR traded up $0.08 during mid-day trading on Friday, reaching $90.58. 163,385 shares of the company’s stock were exchanged, compared to its average volume of 226,845. The company has a current ratio of 2.92, a quick ratio of 2.21, and a debt-to-equity ratio of 0.63. The company has a fifty day simple moving average of $89.75 and a 200 day simple moving average of $88.38. Otter Tail Co. has a 12-month low of $68.96 and a 12-month high of $100.84. The firm has a market cap of $3.79 billion, a price-to-earnings ratio of 12.44 and a beta of 0.55.

Otter Tail (NASDAQ:OTTR – Get Free Report ) last posted its quarterly earnings results on Monday, August 5th. The utilities provider reported $2.07 EPS for the quarter, topping analysts’ consensus estimates of $1.69 by $0.38. Otter Tail had a return on equity of 21.58% and a net margin of 22.55%. The company had revenue of $342.34 million for the quarter, compared to analyst estimates of $367.71 million. In the same period last year, the company posted earnings of $1.95 per share. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. As a group, equities analysts expect that Otter Tail Co. to record 6.35 EPS for the current fiscal year.

Otter Tail Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be given a $0.468 dividend. This represents a dividend of $1.87 on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Thursday, August 15. Otter Tail’s dividend payout ratio (DPR) is currently 25.69%.

Otter tail profile

(Free report)

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: electrical, manufacturing and plastics. The Electric segment generates, transmits, distributes and sells electricity in Minnesota, North Dakota and South Dakota; and operates as a participant in the Midcontinent system independent operator markets.

See Also

Want to see what other hedge funds hold OTTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for Otter Tail Co. (NASDAQ:OTTR – Free Report).

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