Otter Tail Co. (NASDAQ:OTTR) Director John D. Erickson Sells 2,000 Shares

Otter Tail Co. (NASDAQ:OTTRGet Rating) Director John D. Erickson sold 2,000 shares of the stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $56.31, for a total value of $112,620.00. Following the completion of the sale, the director now directly owns 3,633 shares of the company’s stock, valued at approximately $204,574.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Otter Tail Trading Up 0.9 %

Shares of Otter Tail stock opened at $57.79 on Friday. The firm has a market capitalization of $2.41 billion, a price-to-earnings ratio of 8.24 and a beta of 0.54. Otter Tail Co. has a fifty-two week low of $52.60 and a fifty-two week high of $82.46. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.30 and a current ratio of 1.90. The stock has a 50 day moving average of $61.84 and a 200 day moving average of $66.96.

Otter Tail Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 9th. Investors of record on Tuesday, November 15th will be given a $0.412 dividend. The ex-dividend date of this dividend is Monday, November 14th. This represents a $1.65 annualized dividend and a yield of 2.85%. Otter Tail’s payout ratio is 23.54%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Horizon Investment Services LLC grew its position in Otter Tail by 1.3% in the second quarter. Horizon Investment Services LLC now owns 10,596 shares of the utilities provider’s stock worth $711,000 after acquiring an additional 133 shares during the period. Corient Capital Partners LLC boosted its position in shares of Otter Tail by 4.1% during the second quarter. Corient Capital Partners LLC now owns 3,665 shares of the utilities provider’s stock worth $246,000 after buying an additional 143 shares during the period. Bank of Montreal Can boosted its position in shares of Otter Tail by 2.8% during the first quarter. Bank of Montreal Can now owns 6,192 shares of the utilities provider’s stock worth $395,000 after buying an additional 167 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Otter Tail by 1.4% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 13,156 shares of the utilities provider’s stock worth $809,000 after buying an additional 181 shares during the period. Finally, First Manhattan Co. boosted its position in shares of Otter Tail by 0.3% during the first quarter. First Manhattan Co. now owns 65,927 shares of the utilities provider’s stock worth $4,120,000 after buying an additional 200 shares during the period. 48.13% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Maxim Group cut their price target on Otter Tail from $95.00 to $75.00 in a report on Wednesday, November 2nd. Siebert Williams Shank cut Otter Tail from a “hold” rating to a “sell” rating and increased their price target for the company from $62.00 to $64.00 in a report on Wednesday, August 3rd. Finally, StockNews.com cut Otter Tail from a “buy” rating to a “hold” rating in a report on Monday, October 31st.

Otter Tail Company Profile

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Otter Tail Corporation, together with its subsidiaries, engages in electric utility, manufacturing, and plastic pipe businesses in the United States. The company's 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, Inc markets.

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