Holocene Advisors LP Invests $1.09 Million in Otter Tail Co. (NASDAQ:OTTR)

Holocene Advisors LP bought a new stake in Otter Tail Co. (NASDAQ:OTTR - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 13,955 shares of the utilities provider's stock, valued at approximately $1,091,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Centiva Capital LP purchased a new position in shares of Otter Tail in the third quarter valued at approximately $718,000. Paloma Partners Management Co purchased a new position in shares of Otter Tail in the third quarter valued at approximately $487,000. Edgestream Partners L.P. lifted its position in shares of Otter Tail by 14.4% in the third quarter. Edgestream Partners L.P. now owns 77,444 shares of the utilities provider's stock valued at $6,053,000 after acquiring an additional 9,749 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec purchased a new position in shares of Otter Tail in the third quarter valued at approximately $6,484,000. Finally, Martingale Asset Management L P lifted its position in shares of Otter Tail by 7.1% in the third quarter. Martingale Asset Management L P now owns 32,188 shares of the utilities provider's stock valued at $2,516,000 after acquiring an additional 2,131 shares in the last quarter. Hedge funds and other institutional investors own 61.32% of the company's stock.

Otter Tail Price Performance

Shares of NASDAQ:OTTR traded down $0.84 during midday trading on Friday, hitting $77.68. The company had a trading volume of 162,037 shares, compared to its average volume of 216,586. The stock has a market cap 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 current ratio of 2.17 and a quick ratio of 1.66. Otter Tail Co. has a twelve month low of $73.43 and a twelve month high of $100.84. The business's 50-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 data on Monday, November 4th. The utilities provider reported $2.03 EPS for the quarter, beating the consensus estimate of $1.97 by $0.06. The firm had revenue of $338.03 million during the quarter, compared to the consensus estimate of $362.20 million. Otter Tail had a return on equity of 19.84% and a net margin of 22.70%. During the same period in the prior year, the business earned $2.19 EPS. On average, research analysts predict that Otter Tail Co. will post 7.13 earnings per share for the current year.

Otter Tail Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.468 per share. This represents a $1.87 annualized dividend and a yield of 2.41%. The ex-dividend date is Friday, November 15th. Otter Tail's dividend payout ratio is presently 25.83%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. StockNews.com upgraded Otter Tail from a "sell" rating to a "hold" rating in a research report on Thursday, November 14th. Siebert Williams Shank raised Otter Tail from a "strong sell" rating to a "hold" rating in a report on Wednesday, November 6th.

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.