Martingale Asset Management L P Purchases 5,599 Shares of Otter Tail Co. (NASDAQ:OTTR)

Martingale Asset Management L P increased its holdings in Otter Tail Co. (NASDAQ:OTTR - Free Report) by 17.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,787 shares of the utilities provider's stock after buying an additional 5,599 shares during the quarter. Martingale Asset Management L P owned about 0.09% of Otter Tail worth $2,790,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in OTTR. Asset Planning Inc bought a new stake in Otter Tail in the fourth quarter worth about $37,000. Wilmington Savings Fund Society FSB acquired a new stake in Otter Tail during the third quarter valued at approximately $39,000. Crews Bank & Trust bought a new stake in Otter Tail during the fourth quarter worth approximately $81,000. New Age Alpha Advisors LLC acquired a new position in Otter Tail in the fourth quarter worth approximately $94,000. Finally, Nisa Investment Advisors LLC increased its holdings in shares of Otter Tail by 28.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,502 shares of the utilities provider's stock valued at $111,000 after buying an additional 333 shares in the last quarter. 61.32% of the stock is currently owned by institutional investors and hedge funds.

Otter Tail Price Performance

Shares of OTTR traded down $0.21 during trading hours on Tuesday, hitting $79.77. 87,585 shares of the company were exchanged, compared to its average volume of 234,544. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.03 and a quick ratio of 1.66. The company has a market capitalization of $3.34 billion, a PE ratio of 11.13 and a beta of 0.49. The firm has a fifty day simple moving average of $80.06 and a 200-day simple moving average of $78.59. Otter Tail Co. has a one year low of $71.66 and a one year high of $100.84.

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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 for the quarter, topping analysts' consensus estimates of $1.26 by $0.04. Otter Tail had a return on equity of 18.96% and a net margin of 22.67%. The firm had revenue of $303.11 million for the quarter, compared to analysts' expectations of $314.75 million. As a group, sell-side analysts predict that Otter Tail Co. will post 5.88 earnings per share for the current year.

Otter Tail Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were given a $0.525 dividend. This is a positive change from Otter Tail's previous quarterly dividend of $0.47. This represents a $2.10 annualized dividend and a yield of 2.63%. The ex-dividend date of this dividend was Friday, February 14th. 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.