Sanctuary Advisors LLC Makes New Investment in Otter Tail Co. (NASDAQ:OTTR)

Sanctuary Advisors LLC acquired a new position in shares of Otter Tail Co. (NASDAQ:OTTR - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 8,053 shares of the utilities provider's stock, valued at approximately $681,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in OTTR. Quarry LP boosted its position in Otter Tail by 1,811.4% during the 2nd quarter. Quarry LP now owns 669 shares of the utilities provider's stock worth $59,000 after acquiring an additional 634 shares during the period. Creative Planning lifted its holdings in Otter Tail by 2.2% in the second quarter. Creative Planning now owns 6,281 shares of the utilities provider's stock worth $550,000 after purchasing an additional 137 shares during the period. Algert Global LLC bought a new position in Otter Tail in the 2nd quarter valued at about $332,000. Mackenzie Financial Corp increased its stake in Otter Tail by 41.0% during the 2nd quarter. Mackenzie Financial Corp now owns 13,313 shares of the utilities provider's stock valued at $1,166,000 after buying an additional 3,872 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in Otter Tail by 4.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 78,827 shares of the utilities provider's stock valued at $6,904,000 after buying an additional 3,593 shares during the period. 61.32% of the stock is owned by institutional investors.

Insider Activity

In related news, VP Jennifer O. Smestad sold 4,000 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $88.74, for a total transaction of $354,960.00. Following the completion of the sale, the vice president now directly owns 12,300 shares of the company's stock, valued at $1,091,502. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.30% of the company's stock.

Otter Tail Price Performance

Shares of Otter Tail stock traded up $1.70 on Monday, hitting $78.57. The company had a trading volume of 257,118 shares, compared to its average volume of 228,729. Otter Tail Co. has a 52 week low of $68.96 and a 52 week high of $100.84. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.27 and a quick ratio of 1.67. The company has a market cap of $3.29 billion, a PE ratio of 10.79 and a beta of 0.53. The business has a 50-day simple moving average of $82.24 and a 200-day simple moving average of $86.38.

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, beating analysts' consensus estimates of $1.69 by $0.38. The firm had revenue of $342.34 million during the quarter, compared to analyst estimates of $367.71 million. Otter Tail had a return on equity of 21.06% and a net margin of 22.84%. The firm's quarterly revenue was up 1.4% on a year-over-year basis. During the same period last year, the company posted $1.95 EPS. Research analysts expect that Otter Tail Co. will post 6.92 EPS for the current fiscal year.

Otter Tail Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were issued a $0.468 dividend. This represents a $1.87 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend was Thursday, August 15th. Otter Tail's payout ratio is 25.69%.

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.