Focus Financial Network Inc. reduced its stake in shares of Otter Tail Co. (NASDAQ:OTTR – Free Report) by 2.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,560 shares of the utilities provider’s stock after selling 450 shares during the quarter. Focus Financial Network Inc.’s holdings in Otter Tail were worth $1,653,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently modified their holdings of OTTR. Atticus Wealth Management LLC bought a new stake in Otter Tail in the 2nd quarter worth approximately $33,000. Quadrant Capital Group LLC lifted its position in Otter Tail by 32.9% during the fourth quarter. Quadrant Capital Group LLC now owns 590 shares of the utilities provider’s stock valued at $50,000 after purchasing an additional 146 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Otter Tail by 46.3% in the 2nd quarter. GAMMA Investing LLC now owns 657 shares of the utilities provider’s stock worth $58,000 after buying an additional 208 shares in the last quarter. Mather Group LLC. bought a new stake in shares of Otter Tail in the 2nd quarter worth about $77,000. Finally, Financial Perspectives Inc purchased a new stake in shares of Otter Tail during the 4th quarter valued at about $88,000. Institutional investors own 61.32% of the company’s stock.
Otter Tail Trading Up 0.8 %
Shares of NASDAQ:OTTR traded up $0.70 during trading on Wednesday, reaching $87.08. The company’s stock had a trading volume of 11,310 shares, compared to its average volume of 221,985. The firm’s 50 day simple moving average is $89.70 and its two-hundred day simple moving average is $88.26. The company has a current ratio of 2.27, a quick ratio of 1.67 and a debt-to-equity ratio of 0.60. Otter Tail Co. has a 12 month low of $68.96 and a 12 month high of $100.84. The stock has a market capitalization of $3.64 billion, a PE ratio of 11.87 and a beta of 0.55.
Otter Tail Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th will be given a dividend of $0.468 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.87 annualized dividend and a dividend yield of 2.15%. Otter Tail’s dividend payout ratio (DPR) is presently 25.69%.
Insider Activity
In related news, VP Paul L. Knutson sold 4,000 shares of the business’s stock in a transaction on Friday, May 24th. The stock was 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 owns 20,359 shares in the company, valued at approximately $1,845,746.94. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.30% of the company’s stock.
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.
Recommended Stories
- Five stocks we like better than Otter Tail
- What Are Trending Stocks? Trending Stocks Explained
- Target Hits the Mark: Q2 Earnings Exceed Expectations
- ETF Screener: Uses and Step-by-Step Guide
- Is Tesla’s Rebound Just Starting? Why You Should Consider Buying
- What Makes a Stock a Good Dividend Stock?
- Stanley Druckenmiller’s Latest Bet: MELI—Should You Follow Suit?
Want to see what other hedge funds are holding OTTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Otter Tail Co. (NASDAQ:OTTR – Free Report).
Receive News & Ratings for Otter Tail Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Otter Tail and related companies with MarketBeat.com's FREE daily email newsletter.