Valtinson Bruner Financial Planning LLC acquired a new position in shares of Otter Tail Co. (NASDAQ:OTTR) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 9,298 shares of the utilities provider’s stock, valued at approximately $462,000. Otter Tail makes up approximately 0.5% of Valtinson Bruner Financial Planning LLC’s holdings, making the stock its 18th biggest position.
Other hedge funds also recently bought and sold shares of the company. Strs Ohio bought a new position in Otter Tail in the fourth quarter valued at approximately $29,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Otter Tail by 27.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,185 shares of the utilities provider’s stock worth $158,000 after acquiring an additional 692 shares during the period. New York State Teachers Retirement System bought a new position in shares of Otter Tail during the 4th quarter worth approximately $174,000. FMR LLC bought a new position in shares of Otter Tail during the 3rd quarter worth approximately $176,000. Finally, Cubic Asset Management LLC bought a new position in shares of Otter Tail during the 3rd quarter worth approximately $201,000. Hedge funds and other institutional investors own 43.00% of the company’s stock.
In related news, Director John D. Erickson sold 2,300 shares of the company’s stock in a transaction dated Tuesday, November 20th. The stock was sold at an average price of $47.35, for a total transaction of $108,905.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.70% of the stock is owned by corporate insiders.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 9th. Investors of record on Friday, February 15th will be given a dividend of $0.35 per share. This is a positive change from Otter Tail’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Thursday, February 14th. This represents a $1.40 annualized dividend and a dividend yield of 2.83%. Otter Tail’s dividend payout ratio is presently 72.04%.
Several research analysts have recently commented on OTTR shares. BidaskClub upgraded Otter Tail from a “hold” rating to a “buy” rating in a research note on Tuesday, October 23rd. Zacks Investment Research downgraded Otter Tail from a “buy” rating to a “hold” rating in a research note on Tuesday, January 15th.
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About Otter Tail
Otter Tail Corporation, together with its subsidiaries, engages in electric, manufacturing, and plastics businesses in the United States. The company's 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, Inc markets.
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