Entropy Technologies LP Takes Position in Otter Tail Co. (NASDAQ:OTTR)

Entropy Technologies LP acquired a new position in shares of Otter Tail Co. (NASDAQ:OTTR - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 8,550 shares of the utilities provider's stock, valued at approximately $668,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of Otter Tail by 3.9% during the first quarter. Vanguard Group Inc. now owns 5,238,510 shares of the utilities provider's stock worth $452,607,000 after buying an additional 197,617 shares in the last quarter. Bank & Trust Co acquired a new position in Otter Tail in the 2nd quarter worth about $11,129,000. International Assets Investment Management LLC boosted its stake in shares of Otter Tail by 3,339.9% during the third quarter. International Assets Investment Management LLC now owns 76,434 shares of the utilities provider's stock valued at $5,974,000 after purchasing an additional 74,212 shares in the last quarter. Edgestream Partners L.P. grew its holdings in shares of Otter Tail by 2,055.2% during the second quarter. Edgestream Partners L.P. now owns 67,695 shares of the utilities provider's stock worth $5,929,000 after purchasing an additional 64,554 shares during the last quarter. Finally, Jupiter Asset Management Ltd. acquired a new position in shares of Otter Tail in the first quarter valued at approximately $2,276,000. Institutional investors own 61.32% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on OTTR. Siebert Williams Shank upgraded shares of Otter Tail from a "strong sell" rating to a "hold" rating in a research report on Wednesday, November 6th. StockNews.com upgraded shares of Otter Tail from a "sell" rating to a "hold" rating in a report on Thursday.

Otter Tail Trading Up 1.5 %

Shares of NASDAQ OTTR traded up $1.20 during trading on Friday, reaching $80.38. The company had a trading volume of 226,804 shares, compared to its average volume of 234,682. The stock has a market cap of $3.36 billion, a P/E ratio of 11.10 and a beta of 0.52. The company's fifty day moving average price is $78.55 and its 200-day moving average price is $85.50. The company has a quick ratio of 1.66, a current ratio of 2.17 and a debt-to-equity ratio of 0.58. Otter Tail Co. has a 12 month low of $73.43 and a 12 month high of $100.84.

Otter Tail (NASDAQ:OTTR - Get Free Report) last released its earnings results on Monday, November 4th. The utilities provider reported $2.03 earnings per share for the quarter, beating analysts' consensus estimates of $1.97 by $0.06. Otter Tail had a net margin of 22.70% and a return on equity of 19.84%. The business had revenue of $338.03 million during the quarter, compared to the consensus estimate of $362.20 million. During the same quarter in the prior year, the firm posted $2.19 EPS. As a group, research analysts expect that Otter Tail Co. will post 7.01 earnings per share for the current year.

Otter Tail Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.468 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.87 dividend on an annualized basis and a yield of 2.33%. Otter Tail's payout ratio is currently 25.83%.

About Otter Tail

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.