9,185 Shares in Otter Tail Co. (NASDAQ:OTTR) Purchased by Centiva Capital LP

Centiva Capital LP purchased a new stake in shares of Otter Tail Co. (NASDAQ:OTTR - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,185 shares of the utilities provider's stock, valued at approximately $718,000.

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

Otter Tail Stock Performance

Shares of NASDAQ:OTTR traded down $0.84 during trading on Friday, hitting $77.68. 162,037 shares of the stock were exchanged, compared to its average volume of 216,586. The company has a market capitalization of $3.25 billion, a price-to-earnings ratio of 10.73 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 1-year low of $73.43 and a 1-year high of $100.84. The company's fifty day simple moving average is $79.16 and its 200-day simple moving average is $84.33.

Otter Tail (NASDAQ:OTTR - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The utilities provider reported $2.03 earnings per share for the quarter, topping 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 firm had revenue of $338.03 million for the quarter, compared to the consensus estimate of $362.20 million. During the same quarter in the previous year, the company earned $2.19 earnings per share. Sell-side analysts expect that Otter Tail Co. will post 7.13 EPS for the current fiscal year.

Otter Tail Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be given a $0.468 dividend. This represents a $1.87 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend is Friday, November 15th. Otter Tail's dividend payout ratio (DPR) is presently 25.83%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Siebert Williams Shank raised shares of Otter Tail from a "strong sell" rating to a "hold" rating in a report on Wednesday, November 6th. StockNews.com upgraded shares of Otter Tail from a "sell" rating to a "hold" rating in a research note on Thursday, November 14th.

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.