RBA Wealth Management LLC Trims Stock Holdings in Otter Tail Co. (NASDAQ:OTTR)

RBA Wealth Management LLC decreased its holdings in Otter Tail Co. (NASDAQ:OTTR) by 18.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,106 shares of the utilities provider’s stock after selling 1,775 shares during the period. RBA Wealth Management LLC’s holdings in Otter Tail were worth $634,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Atticus Wealth Management LLC purchased a new position in shares of Otter Tail in the second quarter worth about $33,000. Hoese & Co LLP purchased a new position in Otter Tail during the third quarter valued at approximately $39,000. GAMMA Investing LLC grew its stake in Otter Tail by 46.3% during the second quarter. GAMMA Investing LLC now owns 657 shares of the utilities provider’s stock valued at $58,000 after acquiring an additional 208 shares in the last quarter. Quarry LP grew its stake in Otter Tail by 1,811.4% during the second quarter. Quarry LP now owns 669 shares of the utilities provider’s stock valued at $59,000 after acquiring an additional 634 shares in the last quarter. Finally, Mather Group LLC. purchased a new position in Otter Tail during the second quarter valued at approximately $77,000. Hedge funds and other institutional investors own 61.32% of the company’s stock.

Insider Transactions at Otter Tail

In other news, VP Jennifer O. Smestad sold 4,000 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $88.74, for a total value of $354,960.00. Following the transaction, the vice president now owns 12,300 shares of the company’s stock, valued at $1,091,502. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.30% of the company’s stock.

Otter Tail Price Performance

NASDAQ:OTTR traded down $0.92 during mid-day trading on Tuesday, hitting $76.98. 88,211 shares of the stock traded hands, compared to its average volume of 230,817. The business’s 50-day moving average price is $80.88 and its 200 day moving average price is $86.08. The company has a market cap of $3.22 billion, a PE ratio of 10.70 and a beta of 0.53. Otter Tail Co. has a 12-month low of $68.96 and a 12-month high of $100.84. The company has a quick ratio of 1.67, a current ratio of 2.27 and a debt-to-equity ratio of 0.60.

Otter Tail (NASDAQ:OTTR) last issued 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. The company had revenue of $342.34 million during the quarter, compared to analysts’ expectations of $367.71 million. Otter Tail had a net margin of 22.84% and a return on equity of 21.06%. Otter Tail’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.95 earnings per share. On average, analysts expect that Otter Tail Co. will post 6.92 EPS for the current fiscal year.

Otter Tail Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were issued a $0.468 dividend. 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 25.69%.

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.