Otter Tail Co. (NASDAQ:OTTR) Director Sells $112,620.00 in Stock

Otter Tail Co. (NASDAQ:OTTRGet Rating) Director John D. Erickson sold 2,000 shares of the business’s stock in a transaction on Monday, November 21st. The stock was sold at an average price of $56.31, for a total value of $112,620.00. Following the completion of the transaction, the director now directly owns 3,633 shares of the company’s stock, valued at $204,574.23. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Otter Tail Trading Up 0.9 %

Shares of NASDAQ:OTTR opened at $57.79 on Friday. The business’s 50-day moving average is $61.84 and its 200 day moving average is $66.96. Otter Tail Co. has a 1 year low of $52.60 and a 1 year high of $82.46. The firm has a market capitalization of $2.41 billion, a P/E ratio of 8.24 and a beta of 0.54. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.90 and a quick ratio of 1.30.

Otter Tail Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 9th. Investors of record on Tuesday, November 15th will be given a dividend of $0.412 per share. This represents a $1.65 annualized dividend and a yield of 2.85%. The ex-dividend date is Monday, November 14th. Otter Tail’s dividend payout ratio is currently 23.54%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Siebert Williams Shank lowered Otter Tail from a “hold” rating to a “sell” rating and boosted their price target for the stock from $62.00 to $64.00 in a research report on Wednesday, August 3rd. Maxim Group reduced their price target on Otter Tail from $95.00 to $75.00 in a research report on Wednesday, November 2nd. Finally, StockNews.com lowered Otter Tail from a “buy” rating to a “hold” rating in a research report on Monday, October 31st.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Otter Tail by 2.8% during the 3rd quarter. Vanguard Group Inc. now owns 4,678,985 shares of the utilities provider’s stock valued at $287,851,000 after buying an additional 128,872 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Otter Tail by 0.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,035,864 shares of the utilities provider’s stock valued at $63,727,000 after buying an additional 2,875 shares in the last quarter. First Trust Advisors LP increased its position in Otter Tail by 4.7% during the 1st quarter. First Trust Advisors LP now owns 996,956 shares of the utilities provider’s stock valued at $62,310,000 after buying an additional 44,571 shares in the last quarter. State Street Corp increased its position in Otter Tail by 1.7% during the 2nd quarter. State Street Corp now owns 880,451 shares of the utilities provider’s stock valued at $59,105,000 after buying an additional 14,694 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Otter Tail by 11.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 460,042 shares of the utilities provider’s stock valued at $28,753,000 after buying an additional 47,064 shares in the last quarter. 48.13% of the stock is owned by institutional investors and hedge funds.

Otter Tail Company Profile

(Get Rating)

Otter Tail Corporation, together with its subsidiaries, engages in electric utility, manufacturing, and plastic pipe businesses in the United States. The company's 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, Inc markets.

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