AXQ Capital LP bought 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 filing with the SEC. The fund bought 3,568 shares of the utilities provider's stock, valued at approximately $263,000.
A number of other large investors also recently made changes to their positions in OTTR. XTX Topco Ltd bought a new position in Otter Tail during the 3rd quarter worth approximately $589,000. Intech Investment Management LLC bought a new position in shares of Otter Tail during the third quarter worth $683,000. Stifel Financial Corp acquired a new position in shares of Otter Tail in the 3rd quarter valued at $238,000. Assenagon Asset Management S.A. bought a new stake in shares of Otter Tail in the 4th quarter valued at $455,000. Finally, Barclays PLC raised its stake in Otter Tail by 359.8% during the 3rd quarter. Barclays PLC now owns 70,553 shares of the utilities provider's stock worth $5,514,000 after buying an additional 55,210 shares during the period. Institutional investors and hedge funds own 61.32% of the company's stock.
Otter Tail Trading Up 0.2 %
Shares of Otter Tail stock traded up $0.20 during trading hours on Thursday, hitting $80.55. The company's stock had a trading volume of 153,077 shares, compared to its average volume of 226,264. The company has a market capitalization of $3.37 billion, a PE ratio of 11.23 and a beta of 0.53. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.03 and a quick ratio of 1.66. The stock has a 50 day moving average of $79.89 and a 200 day moving average of $78.57. Otter Tail Co. has a 12 month low of $71.66 and a 12 month high of $100.84.
Otter Tail (NASDAQ:OTTR - Get Free Report) last released its earnings results on Monday, February 17th. The utilities provider reported $1.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.26 by $0.04. The firm had revenue of $303.11 million during the quarter, compared to analysts' expectations of $314.75 million. Otter Tail had a return on equity of 18.96% and a net margin of 22.67%. Analysts predict that Otter Tail Co. will post 5.88 earnings per share for the current year.
Otter Tail Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were paid a dividend of $0.525 per share. This is a boost from Otter Tail's previous quarterly dividend of $0.47. This represents a $2.10 annualized dividend and a dividend yield of 2.61%. The ex-dividend date of this dividend was Friday, February 14th. Otter Tail's dividend payout ratio (DPR) is currently 29.29%.
About Otter Tail
(
Free Report)
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.
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