OneAscent Financial Services LLC Decreases Stock Position in Otter Tail Co. (NASDAQ:OTTR)

OneAscent Financial Services LLC lessened its stake in Otter Tail Co. (NASDAQ:OTTR) by 17.8% in the first quarter, HoldingsChannel reports. The fund owned 30,249 shares of the utilities provider’s stock after selling 6,556 shares during the period. OneAscent Financial Services LLC’s holdings in Otter Tail were worth $2,614,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. HighTower Advisors LLC lifted its position in Otter Tail by 85.5% in the third quarter. HighTower Advisors LLC now owns 5,864 shares of the utilities provider’s stock valued at $447,000 after purchasing an additional 2,702 shares during the last quarter. Hsbc Holdings PLC bought a new stake in shares of Otter Tail in the third quarter worth about $210,000. Mariner LLC grew its stake in shares of Otter Tail by 34.0% in the third quarter. Mariner LLC now owns 7,141 shares of the utilities provider’s stock worth $542,000 after purchasing an additional 1,810 shares during the last quarter. Gotham Asset Management LLC grew its position in shares of Otter Tail by 17.8% in the 3rd quarter. Gotham Asset Management LLC now owns 15,116 shares of the utilities provider’s stock worth $1,148,000 after buying an additional 2,287 shares during the last quarter. Finally, Daymark Wealth Partners LLC purchased a new position in shares of Otter Tail during the fourth quarter valued at approximately $204,000. 61.32% of the stock is currently owned by hedge funds and other institutional investors.

Otter Tail Trading Down 0.0 %

OTTR stock traded down $0.02 on Friday, reaching $87.59. The company’s stock had a trading volume of 684,709 shares, compared to its average volume of 218,420. The firm has a market cap of $3.66 billion, a PE ratio of 12.03 and a beta of 0.57. The business has a fifty day simple moving average of $88.61 and a two-hundred day simple moving average of $86.86. Otter Tail Co. has a 12-month low of $68.96 and a 12-month high of $99.49. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.21 and a current ratio of 2.92.

Otter Tail (NASDAQ:OTTR) last issued its quarterly earnings data on Monday, May 6th. The utilities provider reported $1.77 EPS for the quarter. The business had revenue of $347.07 million during the quarter. Otter Tail had a net margin of 22.55% and a return on equity of 21.58%. As a group, research analysts forecast that Otter Tail Co. will post 6.38 EPS for the current year.

Otter Tail Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th were given a dividend of $0.468 per share. The ex-dividend date was Tuesday, May 14th. This represents a $1.87 annualized dividend and a yield of 2.14%. Otter Tail’s payout ratio is 25.69%.

Insiders Place Their Bets

In other news, VP Paul L. Knutson sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $90.66, for a total value 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 at the SEC website. Company insiders own 2.30% of the company’s stock.

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.