Kevin G. Moug Sells 1,500 Shares of Otter Tail Corporation (OTTR) Stock

Otter Tail Corporation (NASDAQ:OTTR) CFO Kevin G. Moug sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $46.50, for a total value of $69,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Shares of Otter Tail Corporation (NASDAQ OTTR) traded up $0.10 during trading on Friday, hitting $45.95. The company’s stock had a trading volume of 53,529 shares, compared to its average volume of 78,260. The company has a current ratio of 0.93, a quick ratio of 0.61 and a debt-to-equity ratio of 0.71. The stock has a market cap of $1,820.00, a price-to-earnings ratio of 26.03 and a beta of 0.81. Otter Tail Corporation has a one year low of $35.65 and a one year high of $47.45.

Otter Tail Corporation (NASDAQ:OTTR) last issued its earnings results on Wednesday, November 1st. The utilities provider reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.06. The business had revenue of $216.50 million for the quarter, compared to analyst estimates of $201.70 million. Otter Tail Corporation had a return on equity of 10.47% and a net margin of 8.53%. The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period last year, the company posted $0.37 EPS. analysts forecast that Otter Tail Corporation will post 1.78 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Saturday, December 9th. Investors of record on Wednesday, November 15th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 2.79%. The ex-dividend date is Tuesday, November 14th. Otter Tail Corporation’s dividend payout ratio (DPR) is currently 71.11%.

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A number of equities research analysts recently weighed in on the company. Zacks Investment Research upgraded Otter Tail Corporation from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a report on Tuesday, November 7th. KeyCorp reiterated a “hold” rating on shares of Otter Tail Corporation in a report on Friday, October 20th. Finally, BidaskClub upgraded Otter Tail Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Otter Tail Corporation currently has a consensus rating of “Hold” and an average target price of $44.67.

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Otter Tail Corporation by 2.2% in the second quarter. Vanguard Group Inc. now owns 3,507,682 shares of the utilities provider’s stock valued at $138,904,000 after purchasing an additional 74,533 shares during the period. BlackRock Inc. raised its position in Otter Tail Corporation by 0.9% in the second quarter. BlackRock Inc. now owns 2,498,815 shares of the utilities provider’s stock valued at $98,953,000 after purchasing an additional 21,440 shares during the period. Dimensional Fund Advisors LP raised its position in Otter Tail Corporation by 3.0% in the third quarter. Dimensional Fund Advisors LP now owns 1,158,720 shares of the utilities provider’s stock valued at $50,232,000 after purchasing an additional 33,584 shares during the period. Northern Trust Corp raised its position in Otter Tail Corporation by 8.3% in the second quarter. Northern Trust Corp now owns 956,660 shares of the utilities provider’s stock valued at $37,885,000 after purchasing an additional 72,974 shares during the period. Finally, State Street Corp raised its position in Otter Tail Corporation by 5.1% in the second quarter. State Street Corp now owns 809,030 shares of the utilities provider’s stock valued at $32,041,000 after purchasing an additional 38,942 shares during the period. 40.45% of the stock is currently owned by institutional investors.

About Otter Tail Corporation

Otter Tail Corporation is a holding company. The Company operates through three segments: Electric, Manufacturing and Plastics. The Electric segment includes the production, transmission, distribution and sale of electric energy in Minnesota, North Dakota and South Dakota by Otter Tail Power Company (OTP).

Insider Buying and Selling by Quarter for Otter Tail Corporation (NASDAQ:OTTR)

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