ICA Group Wealth Management LLC Sells 4,273 Shares of Otter Tail Co. (NASDAQ:OTTR)

ICA Group Wealth Management LLC decreased its position in Otter Tail Co. (NASDAQ:OTTR) by 79.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,075 shares of the utilities provider’s stock after selling 4,273 shares during the quarter. ICA Group Wealth Management LLC’s holdings in Otter Tail were worth $94,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Inspire Advisors LLC bought a new stake in Otter Tail during the second quarter worth about $289,000. Federated Hermes Inc. boosted its holdings in shares of Otter Tail by 3.6% in the 2nd quarter. Federated Hermes Inc. now owns 143,074 shares of the utilities provider’s stock worth $12,532,000 after acquiring an additional 4,997 shares in the last quarter. American Century Companies Inc. grew its position in Otter Tail by 16.3% during the 2nd quarter. American Century Companies Inc. now owns 20,583 shares of the utilities provider’s stock worth $1,803,000 after acquiring an additional 2,890 shares during the last quarter. Quest Partners LLC increased its holdings in Otter Tail by 178,816.7% during the 2nd quarter. Quest Partners LLC now owns 10,735 shares of the utilities provider’s stock valued at $940,000 after purchasing an additional 10,729 shares in the last quarter. Finally, Los Angeles Capital Management LLC raised its position in Otter Tail by 1.3% in the 2nd quarter. Los Angeles Capital Management LLC now owns 21,091 shares of the utilities provider’s stock valued at $1,847,000 after purchasing an additional 265 shares during the last quarter. Institutional investors own 61.32% of the company’s stock.

Otter Tail Price Performance

Shares of OTTR stock opened at $78.79 on Monday. The stock’s fifty day moving average is $88.18 and its 200-day moving average is $87.21. 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 Co. has a 52 week low of $68.96 and a 52 week high of $100.84. The stock has a market capitalization of $3.29 billion, a PE ratio of 10.82 and a beta of 0.53.

Otter Tail (NASDAQ:OTTR) last posted its quarterly earnings data on Monday, August 5th. The utilities provider reported $2.07 earnings per share 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 company posted $1.95 EPS. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. Equities research analysts expect that Otter Tail Co. will post 6.92 EPS for the current fiscal year.

Otter Tail Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were given a dividend of $0.468 per share. The ex-dividend date was Thursday, August 15th. This represents a $1.87 dividend on an annualized basis and a dividend yield of 2.38%. Otter Tail’s payout ratio is currently 25.69%.

Insider Activity

In related news, VP Jennifer O. Smestad sold 4,000 shares of Otter Tail stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $88.74, for a total value of $354,960.00. Following the completion of the sale, the vice president now directly owns 12,300 shares in the company, valued at $1,091,502. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.30% of the stock is currently owned by insiders.

Otter Tail 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.