O Shares Investment Advisers LLC decreased its position in shares of Otter Tail Co. (NASDAQ:OTTR) by 10.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,110 shares of the utilities provider’s stock after selling 596 shares during the quarter. O Shares Investment Advisers LLC’s holdings in Otter Tail were worth $255,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Moors & Cabot Inc. acquired a new position in Otter Tail during the 1st quarter worth about $214,000. Cigna Investments Inc. New acquired a new position in Otter Tail during the 4th quarter worth about $425,000. Rhumbline Advisers lifted its holdings in Otter Tail by 41.2% during the 4th quarter. Rhumbline Advisers now owns 57,662 shares of the utilities provider’s stock worth $2,862,000 after buying an additional 16,818 shares during the period. JNBA Financial Advisors acquired a new position in Otter Tail during the 4th quarter worth about $31,000. Finally, Victory Capital Management Inc. lifted its holdings in Otter Tail by 9.1% during the 4th quarter. Victory Capital Management Inc. now owns 39,011 shares of the utilities provider’s stock worth $1,937,000 after buying an additional 3,256 shares during the period. 43.65% of the stock is currently owned by institutional investors.
Several research analysts have commented on the company. Zacks Investment Research downgraded Otter Tail from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 21st. Maxim Group reaffirmed a “buy” rating and set a $60.00 target price on shares of Otter Tail in a report on Tuesday, May 7th. Finally, BidaskClub downgraded Otter Tail from a “buy” rating to a “hold” rating in a report on Thursday, March 21st.
Shares of NASDAQ:OTTR opened at $51.90 on Friday. The stock has a market capitalization of $2.06 billion, a PE ratio of 25.19, a price-to-earnings-growth ratio of 3.37 and a beta of 0.36. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.83 and a current ratio of 1.36. Otter Tail Co. has a 1 year low of $44.22 and a 1 year high of $53.35.
Otter Tail (NASDAQ:OTTR) last announced its quarterly earnings data on Monday, May 6th. The utilities provider reported $0.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.03). The business had revenue of $246.00 million during the quarter, compared to analyst estimates of $256.20 million. Otter Tail had a net margin of 8.95% and a return on equity of 11.34%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.66 earnings per share. On average, equities research analysts forecast that Otter Tail Co. will post 2.2 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date was Tuesday, May 14th. Otter Tail’s dividend payout ratio is 67.96%.
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Otter Tail Company Profile
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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