Otter Tail Co. (NASDAQ:OTTR) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its stake in Otter Tail Co. (NASDAQ:OTTR - Free Report) by 93.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 189,345 shares of the utilities provider's stock after buying an additional 91,516 shares during the period. JPMorgan Chase & Co. owned approximately 0.45% of Otter Tail worth $13,981,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. WINTON GROUP Ltd increased its holdings in Otter Tail by 3.4% in the fourth quarter. WINTON GROUP Ltd now owns 13,975 shares of the utilities provider's stock worth $1,032,000 after purchasing an additional 466 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Otter Tail by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 5,275,068 shares of the utilities provider's stock valued at $389,511,000 after buying an additional 43,186 shares during the period. LPL Financial LLC grew its position in Otter Tail by 3.2% during the fourth quarter. LPL Financial LLC now owns 59,865 shares of the utilities provider's stock worth $4,420,000 after buying an additional 1,837 shares in the last quarter. AXQ Capital LP purchased a new stake in shares of Otter Tail during the 4th quarter valued at $263,000. Finally, Sei Investments Co. boosted its stake in Otter Tail by 4.3% in the fourth quarter. Sei Investments Co. now owns 7,709 shares of the utilities provider's stock worth $569,000 after buying an additional 318 shares in the last quarter. Institutional investors own 61.32% of the company's stock.

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Otter Tail Trading Down 0.2 %

Shares of OTTR stock traded down $0.19 during mid-day trading on Tuesday, reaching $79.79. The stock had a trading volume of 170,603 shares, compared to its average volume of 234,546. The company has a current ratio of 2.03, a quick ratio of 1.66 and a debt-to-equity ratio of 0.57. Otter Tail Co. has a 52-week low of $71.66 and a 52-week high of $100.84. The firm has a market capitalization of $3.34 billion, a PE ratio of 11.13 and a beta of 0.49. The stock's 50-day moving average price is $80.06 and its two-hundred day moving average price is $78.59.

Otter Tail (NASDAQ:OTTR - Get Free Report) last announced its earnings results on Monday, February 17th. The utilities provider reported $1.30 earnings per share (EPS) for the quarter, beating 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%. Equities analysts expect that Otter Tail Co. will post 5.88 earnings per share for the current fiscal year.

Otter Tail Increases Dividend

The business also recently announced 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 is a boost from Otter Tail's previous quarterly dividend of $0.47. This represents a $2.10 dividend on an annualized basis and a yield of 2.63%. Otter Tail's dividend payout ratio (DPR) is 29.29%.

Otter Tail Company 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.