Squarepoint Ops LLC Purchases 24,635 Shares of Otter Tail Co. (NASDAQ:OTTR)

Squarepoint Ops LLC increased its stake in Otter Tail Co. (NASDAQ:OTTR - Free Report) by 129.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 43,658 shares of the utilities provider's stock after purchasing an additional 24,635 shares during the quarter. Squarepoint Ops LLC owned about 0.10% of Otter Tail worth $3,824,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in OTTR. Jupiter Asset Management Ltd. purchased a new position in Otter Tail during the 1st quarter valued at about $2,276,000. Janus Henderson Group PLC increased its holdings in Otter Tail by 45.2% during the 1st quarter. Janus Henderson Group PLC now owns 29,765 shares of the utilities provider's stock worth $2,572,000 after acquiring an additional 9,270 shares during the period. Quantbot Technologies LP purchased a new stake in Otter Tail in the 1st quarter worth approximately $590,000. Tidal Investments LLC boosted its holdings in Otter Tail by 320.5% in the 1st quarter. Tidal Investments LLC now owns 16,879 shares of the utilities provider's stock valued at $1,458,000 after purchasing an additional 12,865 shares during the period. Finally, State Board of Administration of Florida Retirement System grew its position in shares of Otter Tail by 113.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 41,199 shares of the utilities provider's stock valued at $3,560,000 after purchasing an additional 21,908 shares in the last quarter. 61.32% of the stock is currently owned by institutional investors.

Otter Tail Price Performance

Shares of Otter Tail stock traded down $0.26 during trading on Wednesday, hitting $77.74. The stock had a trading volume of 164,545 shares, compared to its average volume of 227,676. Otter Tail Co. has a 12 month low of $68.96 and a 12 month high of $100.84. The business's 50-day moving average is $85.45 and its 200 day moving average is $86.68. The company has a current ratio of 2.27, a quick ratio of 1.67 and a debt-to-equity ratio of 0.60. The firm has a market cap of $3.25 billion, a price-to-earnings ratio of 10.70 and a beta of 0.53.

Otter Tail (NASDAQ:OTTR - Get Free Report) last issued its quarterly earnings results on Monday, August 5th. The utilities provider reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.38. Otter Tail had a return on equity of 21.06% and a net margin of 22.84%. The firm had revenue of $342.34 million during the quarter, compared to analyst estimates of $367.71 million. During the same quarter in the previous year, the company posted $1.95 earnings per share. The company's revenue was up 1.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Otter Tail Co. will post 6.92 earnings per share for the current year.

Otter Tail Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were given a $0.468 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.87 annualized dividend and a yield of 2.41%. Otter Tail's payout ratio is currently 25.69%.

Insider Buying and Selling

In other Otter Tail news, VP Jennifer O. Smestad sold 4,000 shares of the business's stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $88.74, for a total value of $354,960.00. Following the transaction, the vice president now owns 12,300 shares in the company, valued at $1,091,502. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.30% of the stock is owned by insiders.

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.