XTX Topco Ltd Acquires New Shares in Otter Tail Co. (NASDAQ:OTTR)

XTX Topco Ltd purchased a new stake in Otter Tail Co. (NASDAQ:OTTR - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,532 shares of the utilities provider's stock, valued at approximately $589,000.

Other hedge funds have also made changes to their positions in the company. Hoese & Co LLP purchased a new position in shares of Otter Tail in the third quarter valued at $39,000. Allworth Financial LP increased its position in Otter Tail by 132.8% during the 3rd quarter. Allworth Financial LP now owns 547 shares of the utilities provider's stock worth $43,000 after purchasing an additional 312 shares in the last quarter. Quarry LP increased 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 purchasing an additional 634 shares in the last quarter. Abound Wealth Management increased its position in Otter Tail by 28,725.0% during the 2nd quarter. Abound Wealth Management now owns 1,153 shares of the utilities provider's stock worth $101,000 after purchasing an additional 1,149 shares in the last quarter. Finally, KBC Group NV boosted its stake in Otter Tail by 27.9% in the 3rd quarter. KBC Group NV now owns 1,248 shares of the utilities provider's stock worth $98,000 after buying an additional 272 shares during the last quarter. Hedge funds and other institutional investors own 61.32% of the company's stock.

Analysts Set New Price Targets

OTTR has been the topic of a number of research analyst reports. StockNews.com raised Otter Tail from a "sell" rating to a "hold" rating in a research note on Thursday, November 14th. Siebert Williams Shank raised Otter Tail from a "strong sell" rating to a "hold" rating in a research note on Wednesday, November 6th.

Otter Tail Stock Down 0.9 %

Shares of NASDAQ:OTTR traded down $0.72 during mid-day trading on Friday, hitting $75.88. 202,099 shares of the company traded hands, compared to its average volume of 231,727. The firm has a market cap of $3.17 billion, a P/E ratio of 10.48 and a beta of 0.54. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.66 and a current ratio of 2.17. Otter Tail Co. has a 52-week low of $73.43 and a 52-week high of $100.84. The firm's 50 day simple moving average is $79.19 and its 200 day simple moving average is $84.02.

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

Otter Tail Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.47%. Otter Tail's dividend payout ratio (DPR) is 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.