Vident Advisory LLC Sells 23,772 Shares of Otter Tail Corporation $OTTR

Key Points

• Vident Advisory LLC reduced its stake in Otter Tail Corporation by 74.1%, selling 23,772 shares, leaving it with 8,316 shares valued at $668,000.
• Otter Tail Corporation reported $1.85 earnings per share for the last quarter, exceeding expectations, despite a 2.7% year-over-year decline in revenue.
• The company declared a quarterly dividend of $0.525 per share, which will be paid on September 10th, representing a dividend yield of 2.5%.

Vident Advisory LLC decreased its position in shares of Otter Tail Corporation (NASDAQ:OTTR - Free Report) by 74.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,316 shares of the utilities provider's stock after selling 23,772 shares during the period. Vident Advisory LLC's holdings in Otter Tail were worth $668,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in OTTR. Caisse DE Depot ET Placement DU Quebec raised its position in Otter Tail by 82.2% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 406,321 shares of the utilities provider's stock valued at $32,656,000 after purchasing an additional 183,316 shares in the last quarter. Nuveen LLC purchased a new position in Otter Tail in the 1st quarter worth $13,217,000. Voloridge Investment Management LLC purchased a new position in Otter Tail in the 4th quarter worth $5,675,000. Northern Trust Corp raised its position in Otter Tail by 15.1% in the 4th 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 raised its position in Otter Tail by 883.3% in the 1st quarter. Denali Advisors LLC now owns 67,959 shares of the utilities provider's stock worth $5,462,000 after purchasing an additional 61,048 shares during the period. Hedge funds and other institutional investors own 61.32% of the company's stock.

Otter Tail Trading Up 1.0%

NASDAQ:OTTR traded up $0.85 during trading hours on Thursday, reaching $84.00. The company's stock had a trading volume of 152,403 shares, compared to its average volume of 139,018. The firm has a market capitalization of $3.52 billion, a price-to-earnings ratio of 12.35 and a beta of 0.57. The firm has a 50-day simple moving average of $80.75 and a 200-day simple moving average of $79.50. Otter Tail Corporation has a 1 year low of $71.66 and a 1 year high of $88.36. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.57 and a current ratio of 3.31.

Otter Tail (NASDAQ:OTTR - Get Free Report) last issued its earnings results on Monday, August 4th. The utilities provider reported $1.85 EPS for the quarter, topping analysts' consensus estimates of $1.74 by $0.11. The company had revenue of $333.04 million for the quarter, compared to analysts' expectations of $329.60 million. Otter Tail had a net margin of 21.82% and a return on equity of 16.85%. The firm's revenue was down 2.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.07 EPS. Otter Tail has set its FY 2025 guidance at 6.060-6.46 EPS. Research analysts expect that Otter Tail Corporation will post 5.88 EPS for the current fiscal year.

Otter Tail Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Friday, August 15th were given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was 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.