Aptus Capital Advisors LLC Has $5.06 Million Position in Otter Tail Co. (NASDAQ:OTTR)

Aptus Capital Advisors LLC raised its position in shares of Otter Tail Co. (NASDAQ:OTTR - Free Report) by 15.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 64,755 shares of the utilities provider's stock after buying an additional 8,744 shares during the quarter. Aptus Capital Advisors LLC owned 0.15% of Otter Tail worth $5,061,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Atticus Wealth Management LLC purchased a new position in Otter Tail during the second quarter valued at approximately $33,000. Hoese & Co LLP purchased a new stake in shares of Otter Tail during the third quarter worth $39,000. Allworth Financial LP boosted its position in Otter Tail by 132.8% during the third quarter. Allworth Financial LP now owns 547 shares of the utilities provider's stock valued at $43,000 after purchasing an additional 312 shares during the last quarter. GAMMA Investing LLC grew its stake in Otter Tail by 46.3% in the second quarter. GAMMA Investing LLC now owns 657 shares of the utilities provider's stock valued at $58,000 after purchasing an additional 208 shares in the last quarter. Finally, Quarry LP increased its position in Otter Tail by 1,811.4% in the 2nd quarter. Quarry LP now owns 669 shares of the utilities provider's stock worth $59,000 after purchasing an additional 634 shares during the last quarter. 61.32% of the stock is currently owned by institutional investors and hedge funds.

Otter Tail Stock Up 0.6 %

Otter Tail stock traded up $0.45 during mid-day trading on Wednesday, hitting $80.31. 180,079 shares of the company's stock were exchanged, compared to its average volume of 234,959. Otter Tail Co. has a 1-year low of $73.43 and a 1-year high of $100.84. The stock has a 50 day moving average of $78.52 and a two-hundred day moving average of $85.54. The stock has a market cap of $3.36 billion, a P/E ratio of 11.09 and a beta of 0.52. 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 (NASDAQ:OTTR - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The utilities provider reported $2.03 EPS for the quarter, beating analysts' consensus estimates of $1.97 by $0.06. The business had revenue of $338.03 million for the quarter, compared to analyst estimates of $362.20 million. Otter Tail had a return on equity of 19.84% and a net margin of 22.70%. During the same quarter in the prior year, the firm posted $2.19 EPS. As a group, analysts anticipate that Otter Tail Co. will post 7.01 EPS for the current fiscal year.

Otter Tail Announces Dividend

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

Analyst Ratings Changes

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

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.