Connor Clark & Lunn Investment Management Ltd. Acquires 12,703 Shares of Otter Tail Co. (NASDAQ:OTTR)

Connor Clark & Lunn Investment Management Ltd. raised its position in Otter Tail Co. (NASDAQ:OTTR - Free Report) by 158.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,709 shares of the utilities provider's stock after buying an additional 12,703 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in Otter Tail were worth $1,619,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Atticus Wealth Management LLC bought a new stake in Otter Tail during the second quarter worth $33,000. Hoese & Co LLP acquired a new stake in Otter Tail in the third quarter valued at about $39,000. Allworth Financial LP grew its position in Otter Tail by 132.8% in the third quarter. Allworth Financial LP now owns 547 shares of the utilities provider's stock valued at $43,000 after acquiring an additional 312 shares during the last quarter. GAMMA Investing LLC raised its stake 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 in the last quarter. Finally, Quarry LP lifted its holdings in shares of Otter Tail by 1,811.4% in 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 last quarter. Institutional investors own 61.32% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports 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, November 14th.

Otter Tail Trading Down 2.1 %

Shares of NASDAQ:OTTR traded down $1.71 during midday trading on Tuesday, hitting $80.23. 234,613 shares of the stock were exchanged, compared to its average volume of 234,070. The business's 50-day moving average price is $78.98 and its 200 day moving average price is $85.05. The stock has a market capitalization of $3.36 billion, a price-to-earnings ratio of 11.32 and a beta of 0.52. Otter Tail Co. has a 12 month low of $73.43 and a 12 month high of $100.84. 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 (NASDAQ:OTTR - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The utilities provider reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $362.20 million. During the same quarter last year, the firm earned $2.19 earnings per share. Analysts predict that Otter Tail Co. will post 7.01 earnings per share for the current 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 given a dividend of $0.468 per share. This represents a $1.87 annualized dividend and a dividend yield of 2.33%. The ex-dividend date of this dividend is Friday, November 15th. Otter Tail's dividend payout ratio (DPR) is presently 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.