American Century Companies Inc. Trims Stock Position in Otter Tail Co. (NASDAQ:OTTR)

American Century Companies Inc. decreased its stake in shares of Otter Tail Co. (NASDAQ:OTTR - Free Report) by 39.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,881 shares of the utilities provider's stock after selling 9,547 shares during the quarter. American Century Companies Inc.'s holdings in Otter Tail were worth $1,099,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Asset Planning Inc acquired a new stake in Otter Tail in the fourth quarter valued at approximately $37,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Otter Tail in the 3rd quarter valued at $39,000. Crews Bank & Trust purchased a new stake in shares of Otter Tail during the 4th quarter worth $81,000. Nisa Investment Advisors LLC lifted its position in shares of Otter Tail by 28.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,502 shares of the utilities provider's stock worth $111,000 after purchasing an additional 333 shares during the last quarter. Finally, KBC Group NV grew its stake in shares of Otter Tail by 28.7% during the fourth quarter. KBC Group NV now owns 1,606 shares of the utilities provider's stock worth $119,000 after purchasing an additional 358 shares in the last quarter. Hedge funds and other institutional investors own 61.32% of the company's stock.

Otter Tail Stock Up 0.0 %

Otter Tail stock traded up $0.03 during midday trading on Wednesday, reaching $79.82. The company's stock had a trading volume of 6,902 shares, compared to its average volume of 233,848. The business has a 50-day simple moving average of $80.08 and a 200-day simple moving average of $78.60. The company has a market cap of $3.34 billion, a P/E ratio of 11.16 and a beta of 0.49. Otter Tail Co. has a fifty-two week low of $71.66 and a fifty-two week high of $100.84. The company has a quick ratio of 1.66, a current ratio of 2.03 and a debt-to-equity ratio of 0.57.

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Otter Tail (NASDAQ:OTTR - Get Free Report) last posted its earnings results on Monday, February 17th. The utilities provider reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.04. Otter Tail had a return on equity of 18.96% and a net margin of 22.67%. The firm had revenue of $303.11 million during the quarter, compared to analysts' expectations of $314.75 million. On average, research analysts expect that Otter Tail Co. will post 5.88 earnings per share for the current fiscal year.

Otter Tail Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were given a $0.525 dividend. The ex-dividend date of this dividend was Friday, February 14th. This is a boost from Otter Tail's previous quarterly dividend of $0.47. This represents a $2.10 dividend on an annualized basis and a yield of 2.63%. Otter Tail's payout ratio is 29.29%.

Otter Tail 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.