RBA Wealth Management LLC Has $634,000 Stock Holdings in Otter Tail Co. (NASDAQ:OTTR)

RBA Wealth Management LLC trimmed its stake in Otter Tail Co. (NASDAQ:OTTR) by 18.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,106 shares of the utilities provider’s stock after selling 1,775 shares during the quarter. RBA Wealth Management LLC’s holdings in Otter Tail were worth $634,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of OTTR. Vanguard Group Inc. lifted its stake in shares of Otter Tail by 3.9% in the first quarter. Vanguard Group Inc. now owns 5,238,510 shares of the utilities provider’s stock valued at $452,607,000 after buying an additional 197,617 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Otter Tail by 0.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,035,541 shares of the utilities provider’s stock valued at $90,703,000 after buying an additional 3,974 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Otter Tail by 1.1% in the second quarter. Bank of New York Mellon Corp now owns 435,005 shares of the utilities provider’s stock valued at $38,102,000 after buying an additional 4,862 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Otter Tail by 1.9% in the first quarter. Principal Financial Group Inc. now owns 235,102 shares of the utilities provider’s stock valued at $20,313,000 after buying an additional 4,358 shares in the last quarter. Finally, Federated Hermes Inc. lifted its stake in shares of Otter Tail by 3.6% in the second quarter. Federated Hermes Inc. now owns 143,074 shares of the utilities provider’s stock valued at $12,532,000 after buying an additional 4,997 shares in the last quarter. 61.32% of the stock is currently owned by institutional investors and hedge funds.

Otter Tail Stock Down 1.2 %

Shares of Otter Tail stock traded down $0.92 during trading hours on Tuesday, reaching $76.98. The company’s stock had a trading volume of 88,211 shares, compared to its average volume of 230,817. Otter Tail Co. has a one year low of $68.96 and a one year high of $100.84. The company has a market capitalization of $3.22 billion, a P/E ratio of 10.70 and a beta of 0.53. The stock’s fifty day simple moving average is $80.88 and its two-hundred day simple moving average is $86.08. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.67 and a current ratio of 2.27.

Otter Tail (NASDAQ:OTTR) last released its quarterly earnings results on Monday, August 5th. The utilities provider reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.69 by $0.38. Otter Tail had a net margin of 22.84% and a return on equity of 21.06%. The company had revenue of $342.34 million for the quarter, compared to analyst estimates of $367.71 million. During the same period last year, the firm earned $1.95 earnings per share. The firm’s revenue was up 1.4% on a year-over-year basis. On average, research analysts forecast that Otter Tail Co. will post 6.92 earnings per share for the current year.

Otter Tail Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 15th were given a dividend of $0.468 per share. This represents a $1.87 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date was Thursday, August 15th. Otter Tail’s payout ratio is currently 25.69%.

Insider Activity at Otter Tail

In related news, VP Jennifer O. Smestad sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $88.74, for a total transaction of $354,960.00. Following the transaction, the vice president now directly owns 12,300 shares of the company’s stock, valued at $1,091,502. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.30% of the stock is owned by insiders.

Otter Tail Company Profile

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.