Louisiana State Employees Retirement System Grows Stock Position in Otter Tail Co. (NASDAQ:OTTR)

Louisiana State Employees Retirement System increased its stake in shares of Otter Tail Co. (NASDAQ:OTTR) by 1.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,000 shares of the utilities provider’s stock after purchasing an additional 300 shares during the quarter. Louisiana State Employees Retirement System owned 0.05% of Otter Tail worth $1,839,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. lifted its stake in shares of Otter Tail by 46.4% in the 2nd quarter. Blue Trust Inc. now owns 1,580 shares of the utilities provider’s stock worth $137,000 after acquiring an additional 501 shares during the period. Assenagon Asset Management S.A. acquired a new stake in Otter Tail in the second quarter valued at about $596,000. Atticus Wealth Management LLC purchased a new stake in Otter Tail in the 2nd quarter valued at approximately $33,000. ORG Partners LLC acquired a new position in Otter Tail during the 2nd quarter worth approximately $142,000. Finally, Great Valley Advisor Group Inc. purchased a new position in shares of Otter Tail during the 2nd quarter worth approximately $293,000. 61.32% of the stock is currently owned by hedge funds and other institutional investors.

Otter Tail Stock Up 4.5 %

OTTR opened at $90.89 on Friday. The business has a 50 day simple moving average of $89.79 and a 200-day simple moving average of $88.24. 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 $3.80 billion, a P/E ratio of 12.48 and a beta of 0.55. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.27 and a quick ratio of 1.67.

Otter Tail (NASDAQ:OTTR) last announced its quarterly earnings data on Monday, August 5th. The utilities provider reported $2.07 EPS for the quarter, beating the consensus estimate of $1.69 by $0.38. Otter Tail had a net margin of 22.84% and a return on equity of 21.06%. The firm had revenue of $342.34 million during the quarter, compared to analysts’ expectations of $367.71 million. During the same quarter last year, the business earned $1.95 earnings per share. The business’s revenue for the quarter was up 1.4% compared to the same quarter last year. On average, equities analysts anticipate that Otter Tail Co. will post 6.92 earnings per share for the current fiscal year.

Otter Tail Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Thursday, August 15th will be issued 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 yield of 2.06%. Otter Tail’s dividend payout ratio is presently 25.69%.

Insiders Place Their Bets

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

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.