Otter Tail Corporation $OTTR Shares Sold by Fuller & Thaler Asset Management Inc.

Key Points

• Fuller & Thaler Asset Management Inc. reduced its stake in Otter Tail Corporation by 6.5%, holding approximately 0.34% of the company worth $11.6 million after selling 10,073 shares.
• Siebert Williams Shank upgraded Otter Tail from a "hold" to a "buy" rating, raising the price target from $82.00 to $83.00, indicating positive sentiment among analysts.
• Otter Tail announced a quarterly dividend of $0.525, with an annualized yield of 2.5%, set to be paid to shareholders on September 10th.

Fuller & Thaler Asset Management Inc. trimmed its position in Otter Tail Corporation (NASDAQ:OTTR - Free Report) by 6.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 144,489 shares of the utilities provider's stock after selling 10,073 shares during the period. Fuller & Thaler Asset Management Inc. owned approximately 0.34% of Otter Tail worth $11,613,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in OTTR. Nuveen LLC acquired a new stake in Otter Tail in the first quarter worth approximately $13,217,000. Caisse DE Depot ET Placement DU Quebec lifted its position in Otter Tail by 168.8% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 223,005 shares of the utilities provider's stock worth $16,467,000 after purchasing an additional 140,044 shares during the period. Voloridge Investment Management LLC acquired a new stake in Otter Tail in the fourth quarter worth approximately $5,675,000. Northern Trust Corp lifted its position in Otter Tail by 15.1% in the fourth quarter. Northern Trust Corp now owns 545,618 shares of the utilities provider's stock worth $40,288,000 after purchasing an additional 71,601 shares during the period. Finally, Denali Advisors LLC boosted its position in shares of Otter Tail by 883.3% during the 1st quarter. Denali Advisors LLC now owns 67,959 shares of the utilities provider's stock valued at $5,462,000 after purchasing an additional 61,048 shares in the last quarter. 61.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Siebert Williams Shank upgraded shares of Otter Tail from a "hold" rating to a "buy" rating and raised their price objective for the company from $82.00 to $83.00 in a research report on Wednesday, May 7th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $83.00.

Otter Tail Stock Performance

NASDAQ:OTTR opened at $84.42 on Wednesday. Otter Tail Corporation has a twelve month low of $71.66 and a twelve month high of $92.51. The company has a current ratio of 3.31, a quick ratio of 2.57 and a debt-to-equity ratio of 0.59. The company has a 50-day moving average of $78.69 and a 200-day moving average of $78.95. The firm has a market cap of $3.54 billion, a price-to-earnings ratio of 12.41 and a beta of 0.56.

Otter Tail (NASDAQ:OTTR - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.11. Otter Tail had a net margin of 21.82% and a return on equity of 16.85%. The company had revenue of $333.04 million during the quarter, compared to analyst estimates of $329.60 million. During the same quarter last year, the firm posted $2.07 EPS. The business's revenue for the quarter was down 2.7% on a year-over-year basis. Otter Tail has set its FY 2025 guidance at 6.060-6.46 EPS. Analysts forecast that Otter Tail Corporation will post 5.88 earnings per share for the current fiscal year.

Otter Tail Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 15th will be issued a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Friday, August 15th. Otter Tail's dividend payout ratio (DPR) is presently 30.88%.

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.

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