Otter Tail Co. (NASDAQ:OTTR) Shares Purchased by Invesco Ltd.

Invesco Ltd. increased its position in shares of Otter Tail Co. (NASDAQ:OTTR - Free Report) by 49.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 291,344 shares of the utilities provider's stock after purchasing an additional 96,573 shares during the quarter. Invesco Ltd. owned 0.70% of Otter Tail worth $21,513,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Otter Tail by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 5,275,068 shares of the utilities provider's stock worth $389,511,000 after buying an additional 43,186 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Otter Tail by 5.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 536,545 shares of the utilities provider's stock worth $39,618,000 after purchasing an additional 27,415 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Otter Tail by 2.3% in the 4th quarter. Bank of New York Mellon Corp now owns 405,146 shares of the utilities provider's stock worth $29,916,000 after purchasing an additional 8,993 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Otter Tail by 4.2% during the 4th quarter. Principal Financial Group Inc. now owns 225,987 shares of the utilities provider's stock worth $16,687,000 after purchasing an additional 9,088 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of 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 purchasing an additional 91,516 shares in the last quarter. Institutional investors and hedge funds own 61.32% of the company's stock.

Otter Tail Stock Performance

NASDAQ OTTR traded up $0.40 during mid-day trading on Thursday, reaching $79.35. 17,227 shares of the stock were exchanged, compared to its average volume of 235,352. The company has a market capitalization of $3.32 billion, a P/E ratio of 11.06 and a beta of 0.49. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.66 and a current ratio of 2.03. The business's 50 day moving average is $80.03 and its 200-day moving average is $78.63. Otter Tail Co. has a 1 year low of $71.66 and a 1 year high of $100.84.

Otter Tail (NASDAQ:OTTR - Get Free Report) last posted its 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. Otter Tail had a net margin of 22.67% and a return on equity of 18.96%. The business had revenue of $303.11 million for the quarter, compared to analyst estimates of $314.75 million. On average, equities research analysts forecast that Otter Tail Co. will post 5.88 EPS for the current fiscal year.

Otter Tail Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were paid a dividend of $0.525 per share. 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. The ex-dividend date was Friday, February 14th. Otter Tail's dividend payout ratio is presently 29.29%.

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.