Federated Hermes Inc. Increases Holdings in Otter Tail Co. (NASDAQ:OTTR)

Federated Hermes Inc. raised its stake in Otter Tail Co. (NASDAQ:OTTR - Free Report) by 16.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 181,618 shares of the utilities provider's stock after acquiring an additional 25,552 shares during the quarter. Federated Hermes Inc. owned approximately 0.43% of Otter Tail worth $13,411,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of OTTR. Janus Henderson Group PLC increased its stake in shares of Otter Tail by 4.3% in the 3rd quarter. Janus Henderson Group PLC now owns 23,478 shares of the utilities provider's stock valued at $1,835,000 after purchasing an additional 966 shares in the last quarter. Quantinno Capital Management LP raised its stake in shares of Otter Tail by 6.6% during the 3rd quarter. Quantinno Capital Management LP now owns 2,614 shares of the utilities provider's stock worth $204,000 after buying an additional 162 shares during the period. Stifel Financial Corp purchased a new position in shares of Otter Tail during the 3rd quarter valued at approximately $238,000. State Street Corp grew its stake in Otter Tail by 1.1% in the 3rd quarter. State Street Corp now owns 1,598,531 shares of the utilities provider's stock valued at $124,941,000 after acquiring an additional 18,109 shares during the period. Finally, XTX Topco Ltd purchased a new stake in Otter Tail in the 3rd quarter worth $589,000. Hedge funds and other institutional investors own 61.32% of the company's stock.

Otter Tail Price Performance

OTTR traded up $0.12 during midday trading on Tuesday, hitting $80.10. 31,113 shares of the company traded hands, compared to its average volume of 234,000. The business has a 50 day simple moving average of $80.06 and a two-hundred day simple moving average of $78.59. Otter Tail Co. has a 52-week low of $71.66 and a 52-week high of $100.84. The company has a market capitalization of $3.35 billion, a price-to-earnings ratio of 11.17 and a beta of 0.49. The company has a current ratio of 2.03, a quick ratio of 1.66 and a debt-to-equity ratio of 0.57.

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Otter Tail (NASDAQ:OTTR - Get Free Report) last posted its quarterly earnings data on Monday, February 17th. The utilities provider reported $1.30 earnings per share (EPS) 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 company had revenue of $303.11 million for the quarter, compared to analysts' expectations of $314.75 million. On average, equities analysts forecast that Otter Tail Co. will post 5.88 earnings per share for the current fiscal year.

Otter Tail Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 2.62%. The ex-dividend date was Friday, February 14th. This is a boost from Otter Tail's previous quarterly dividend of $0.47. 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.