JPMorgan Chase & Co. Sells 10,677 Shares of Otter Tail Co. (NASDAQ:OTTR)

JPMorgan Chase & Co. cut its holdings in Otter Tail Co. (NASDAQ:OTTR - Free Report) by 9.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 97,829 shares of the utilities provider's stock after selling 10,677 shares during the quarter. JPMorgan Chase & Co. owned about 0.23% of Otter Tail worth $7,646,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Caisse DE Depot ET Placement DU Quebec acquired a new stake in shares of Otter Tail in the 3rd quarter valued at approximately $6,484,000. International Assets Investment Management LLC raised its holdings in Otter Tail by 3,339.9% in the third quarter. International Assets Investment Management LLC now owns 76,434 shares of the utilities provider's stock worth $5,974,000 after purchasing an additional 74,212 shares during the period. Edgestream Partners L.P. raised its holdings in Otter Tail by 2,055.2% in the second quarter. Edgestream Partners L.P. now owns 67,695 shares of the utilities provider's stock worth $5,929,000 after purchasing an additional 64,554 shares during the period. Barclays PLC boosted its position in shares of Otter Tail by 359.8% during the third quarter. Barclays PLC now owns 70,553 shares of the utilities provider's stock worth $5,514,000 after purchasing an additional 55,210 shares in the last quarter. Finally, Segall Bryant & Hamill LLC acquired a new position in shares of Otter Tail in the 3rd quarter valued at $2,947,000. Institutional investors and hedge funds own 61.32% of the company's stock.

Wall Street Analyst Weigh In

OTTR has been the topic of several research analyst reports. Siebert Williams Shank raised Otter Tail from a "strong sell" rating to a "hold" rating in a research note on Wednesday, November 6th. StockNews.com raised Otter Tail from a "sell" rating to a "hold" rating in a research report on Thursday, November 14th.

Otter Tail Stock Performance

OTTR stock remained flat at $77.37 during mid-day trading on Wednesday. 171,541 shares of the company's stock traded hands, compared to its average volume of 248,127. The company has a current ratio of 2.17, a quick ratio of 1.66 and a debt-to-equity ratio of 0.58. Otter Tail Co. has a 52-week low of $71.66 and a 52-week high of $100.84. The business has a fifty day simple moving average of $77.63 and a 200 day simple moving average of $81.83. The company has a market cap of $3.24 billion, a price-to-earnings ratio of 10.69 and a beta of 0.56.

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 business had revenue of $338.03 million for the quarter, compared to analysts' expectations of $362.20 million. Otter Tail had a net margin of 22.70% and a return on equity of 19.84%. During the same period in the previous year, the firm posted $2.19 EPS. On average, equities research analysts predict that Otter Tail Co. will post 7.13 EPS for the current fiscal year.

Otter Tail Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th were given a dividend of $0.468 per share. The ex-dividend date was Friday, November 15th. This represents a $1.87 annualized dividend and a dividend yield of 2.42%. Otter Tail's dividend payout ratio is currently 25.83%.

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.