Vident Advisory LLC Trims Stock Holdings in 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 reduced its position in shares of Otter Tail Corporation (NASDAQ:OTTR - Free Report) by 74.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund 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.

Other institutional investors have also modified their holdings of the company. Byrne Asset Management LLC lifted its position in shares of Otter Tail by 54.8% during the 1st quarter. Byrne Asset Management LLC now owns 387 shares of the utilities provider's stock worth $31,000 after purchasing an additional 137 shares during the last quarter. MJT & Associates Financial Advisory Group Inc. purchased a new position in Otter Tail in the first quarter valued at approximately $34,000. Vermillion Wealth Management Inc. purchased a new position in Otter Tail in the fourth quarter valued at approximately $36,000. AdvisorNet Financial Inc increased its stake in Otter Tail by 120.0% in the first quarter. AdvisorNet Financial Inc now owns 550 shares of the utilities provider's stock valued at $44,000 after purchasing an additional 300 shares during the last quarter. Finally, Goodman Advisory Group LLC purchased a new position in Otter Tail in the first quarter valued at approximately $54,000. 61.32% of the stock is owned by hedge funds and other institutional investors.

Otter Tail Stock Down 1.2%

Otter Tail stock traded down $0.98 during mid-day trading on Monday, hitting $82.90. The company had a trading volume of 140,446 shares, compared to its average volume of 145,426. The stock has a market cap of $3.47 billion, a price-to-earnings ratio of 12.19 and a beta of 0.57. Otter Tail Corporation has a 1 year low of $71.66 and a 1 year high of $88.36. The company has a quick ratio of 2.57, a current ratio of 3.31 and a debt-to-equity ratio of 0.59. The business has a fifty day moving average of $80.52 and a 200 day moving average of $79.43.

Otter Tail (NASDAQ:OTTR - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The utilities provider reported $1.85 EPS for the quarter, beating the consensus estimate of $1.74 by $0.11. The company had revenue of $333.04 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the firm posted $2.07 earnings per share. Otter Tail has set its FY 2025 guidance at 6.060-6.46 EPS. On average, sell-side analysts expect that Otter Tail Corporation will post 5.88 earnings per share for the current fiscal year.

Otter Tail Announces Dividend

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

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.