Assenagon Asset Management S.A. Takes Position in Otter Tail Co. (NASDAQ:OTTR)

Assenagon Asset Management S.A. acquired a new stake in shares of Otter Tail Co. (NASDAQ:OTTR - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,164 shares of the utilities provider's stock, valued at approximately $455,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. American Century Companies Inc. increased its holdings in shares of Otter Tail by 16.3% in the 2nd quarter. American Century Companies Inc. now owns 20,583 shares of the utilities provider's stock worth $1,803,000 after buying an additional 2,890 shares during the last quarter. Hsbc Holdings PLC increased its stake in Otter Tail by 11.0% in the second quarter. Hsbc Holdings PLC now owns 7,756 shares of the utilities provider's stock valued at $678,000 after acquiring an additional 766 shares during the last quarter. Sei Investments Co. raised its position in Otter Tail by 10.9% during the second quarter. Sei Investments Co. now owns 7,109 shares of the utilities provider's stock valued at $623,000 after purchasing an additional 701 shares in the last quarter. Evergreen Capital Management LLC bought a new stake in Otter Tail during the second quarter worth about $238,000. Finally, Marshall Wace LLP lifted its stake in Otter Tail by 42.5% during the second quarter. Marshall Wace LLP now owns 39,610 shares of the utilities provider's stock worth $3,469,000 after purchasing an additional 11,814 shares during the last quarter. 61.32% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on OTTR. StockNews.com raised Otter Tail from a "sell" rating to a "hold" rating in a report on Thursday, November 14th. Siebert Williams Shank raised shares of Otter Tail from a "strong sell" rating to a "hold" rating in a research note on Wednesday, November 6th.

Otter Tail Trading Down 1.1 %

Shares of NASDAQ:OTTR traded down $0.83 on Friday, reaching $77.58. 165,745 shares of the company traded hands, compared to its average volume of 182,872. The stock has a market capitalization of $3.25 billion, a P/E ratio of 10.72 and a beta of 0.56. The business's 50-day simple moving average is $77.23 and its 200 day simple moving average is $81.41. The company has a current ratio of 2.17, a quick ratio of 1.66 and a debt-to-equity ratio of 0.58. Otter Tail Co. has a 52 week low of $71.66 and a 52 week high of $100.84.

Otter Tail (NASDAQ:OTTR - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The utilities provider reported $2.03 EPS for the quarter, topping analysts' consensus estimates of $1.97 by $0.06. The business had revenue of $338.03 million for the quarter, compared to analysts' expectations of $362.20 million. Otter Tail had a return on equity of 19.84% and a net margin of 22.70%. During the same period in the previous year, the firm earned $2.19 EPS. As a group, equities analysts anticipate that Otter Tail Co. will post 7.13 EPS for the current fiscal year.

Otter Tail Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th were issued a $0.468 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.87 annualized dividend and a yield of 2.41%. Otter Tail's dividend payout ratio (DPR) is presently 25.83%.

Otter Tail Company 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.