First Trust Advisors LP Sells 37,286 Shares of Otter Tail Co. (NASDAQ:OTTR)

First Trust Advisors LP decreased its holdings in Otter Tail Co. (NASDAQ:OTTR - Free Report) by 5.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 682,228 shares of the utilities provider's stock after selling 37,286 shares during the quarter. First Trust Advisors LP owned about 1.63% of Otter Tail worth $50,376,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in OTTR. Invesco Ltd. boosted its stake in shares of Otter Tail by 49.6% during the 4th quarter. Invesco Ltd. now owns 291,344 shares of the utilities provider's stock valued at $21,513,000 after purchasing an additional 96,573 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Otter Tail by 93.5% during the 4th quarter. JPMorgan Chase & Co. now owns 189,345 shares of the utilities provider's stock valued at $13,981,000 after acquiring an additional 91,516 shares in the last quarter. Barclays PLC grew its holdings in shares of 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 acquiring an additional 55,210 shares during the period. Buck Wealth Strategies LLC bought a new position in shares of Otter Tail in the 4th quarter worth approximately $3,982,000. Finally, Victory Capital Management Inc. lifted its stake in shares of Otter Tail by 61.1% in the 4th quarter. Victory Capital Management Inc. now owns 115,211 shares of the utilities provider's stock valued at $8,507,000 after purchasing an additional 43,693 shares during the period. Institutional investors own 61.32% of the company's stock.

Otter Tail Price Performance

Shares of OTTR stock opened at $79.20 on Wednesday. The business's fifty day moving average is $79.99 and its 200 day moving average is $78.63. The company has a quick ratio of 1.66, a current ratio of 2.03 and a debt-to-equity ratio of 0.57. The stock has a market cap of $3.32 billion, a price-to-earnings ratio of 11.05 and a beta of 0.49. Otter Tail Co. has a twelve month low of $71.66 and a twelve month high of $100.84.

Otter Tail (NASDAQ:OTTR - Get Free Report) last issued its quarterly earnings results 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. The company had revenue of $303.11 million during the quarter, compared to analyst estimates of $314.75 million. Otter Tail had a net margin of 22.67% and a return on equity of 18.96%. Research analysts expect that Otter Tail Co. will post 5.88 EPS for the current fiscal year.

Otter Tail Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were paid a $0.525 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.10 annualized dividend and a dividend yield of 2.65%. This is an increase from Otter Tail's previous quarterly dividend of $0.47. Otter Tail's dividend payout ratio is presently 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.

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