Renaissance Technologies LLC lifted its position in Otter Tail Corporation (NASDAQ:OTTR) by 29.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 555,510 shares of the utilities provider’s stock after acquiring an additional 127,110 shares during the quarter. Renaissance Technologies LLC owned approximately 1.41% of Otter Tail Corporation worth $21,998,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Old Mutual Global Investors UK Ltd. bought a new stake in shares of Otter Tail Corporation in the 2nd quarter worth $107,000. North Star Investment Management Corp. grew its stake in shares of Otter Tail Corporation by 91.9% in the 2nd quarter. North Star Investment Management Corp. now owns 2,905 shares of the utilities provider’s stock worth $115,000 after acquiring an additional 1,391 shares in the last quarter. Ameritas Investment Partners Inc. bought a new stake in shares of Otter Tail Corporation in the 1st quarter worth $119,000. Sei Investments Co. grew its stake in shares of Otter Tail Corporation by 8.3% in the 1st quarter. Sei Investments Co. now owns 3,574 shares of the utilities provider’s stock worth $136,000 after acquiring an additional 274 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Otter Tail Corporation in the 1st quarter worth $213,000. Hedge funds and other institutional investors own 40.60% of the company’s stock.
Otter Tail Corporation (OTTR) opened at 45.20 on Wednesday. The company’s 50-day moving average is $42.99 and its 200 day moving average is $40.48. Otter Tail Corporation has a 52-week low of $33.24 and a 52-week high of $45.20. The company has a market cap of $1.79 billion, a price-to-earnings ratio of 26.02 and a beta of 0.78.
Otter Tail Corporation (NASDAQ:OTTR) last released its quarterly earnings data on Monday, August 7th. The utilities provider reported $0.42 EPS for the quarter, topping the consensus estimate of $0.41 by $0.01. Otter Tail Corporation had a return on equity of 10.14% and a net margin of 8.35%. The company had revenue of $212.10 million during the quarter, compared to the consensus estimate of $211.30 million. During the same period last year, the company earned $0.41 EPS. Otter Tail Corporation’s revenue for the quarter was up 4.2% on a year-over-year basis. Equities analysts forecast that Otter Tail Corporation will post $1.75 earnings per share for the current fiscal year.
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Several analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Otter Tail Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday. BidaskClub lowered shares of Otter Tail Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th.
In related news, CFO Kevin G. Moug sold 1,500 shares of Otter Tail Corporation stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $41.75, for a total value of $62,625.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.40% of the stock is currently owned by company insiders.
Otter Tail Corporation Profile
Otter Tail Corporation is a holding company. The Company operates through three segments: Electric, Manufacturing and Plastics. The Electric segment includes the production, transmission, distribution and sale of electric energy in Minnesota, North Dakota and South Dakota by Otter Tail Power Company (OTP).
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