OneAscent Financial Services LLC Takes $1.94 Million Position in Otter Tail Co. (NASDAQ:OTTR)

OneAscent Financial Services LLC purchased a new stake in shares of Otter Tail Co. (NASDAQ:OTTR - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 24,755 shares of the utilities provider's stock, valued at approximately $1,935,000. Otter Tail comprises approximately 1.4% of OneAscent Financial Services LLC's investment portfolio, making the stock its 11th largest holding. OneAscent Financial Services LLC owned 0.06% of Otter Tail as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in OTTR. Quest Partners LLC lifted its position in Otter Tail by 15.8% in the third quarter. Quest Partners LLC now owns 12,429 shares of the utilities provider's stock worth $971,000 after purchasing an additional 1,694 shares during the period. Royce & Associates LP lifted its position in Otter Tail by 11.7% in the third quarter. Royce & Associates LP now owns 25,804 shares of the utilities provider's stock worth $2,017,000 after purchasing an additional 2,698 shares during the period. KBC Group NV lifted its position in Otter Tail by 27.9% in the third quarter. KBC Group NV now owns 1,248 shares of the utilities provider's stock worth $98,000 after purchasing an additional 272 shares during the period. Victory Capital Management Inc. lifted its position in Otter Tail by 100.1% in the third quarter. Victory Capital Management Inc. now owns 71,518 shares of the utilities provider's stock worth $5,590,000 after purchasing an additional 35,783 shares during the period. Finally, Aptus Capital Advisors LLC lifted its position in Otter Tail by 15.6% in the third quarter. Aptus Capital Advisors LLC now owns 64,755 shares of the utilities provider's stock worth $5,061,000 after purchasing an additional 8,744 shares during the period. Institutional investors and hedge funds own 61.32% of the company's stock.

Otter Tail Stock Down 0.1 %

Shares of OTTR traded down $0.09 on Tuesday, hitting $79.99. The company's stock had a trading volume of 151,251 shares, compared to its average volume of 233,941. The company has a quick ratio of 1.66, a current ratio of 2.17 and a debt-to-equity ratio of 0.58. The firm's fifty day moving average price is $78.65 and its 200-day moving average price is $85.40. Otter Tail Co. has a fifty-two week low of $73.43 and a fifty-two week high of $100.84. The firm has a market capitalization of $3.35 billion, a price-to-earnings ratio of 11.05 and a beta of 0.52.

Otter Tail (NASDAQ:OTTR - Get Free Report) last released its earnings results on Monday, November 4th. The utilities provider reported $2.03 EPS for the quarter, beating the consensus estimate of $1.97 by $0.06. Otter Tail had a return on equity of 19.84% and a net margin of 22.70%. The firm had revenue of $338.03 million for the quarter, compared to analysts' expectations of $362.20 million. During the same quarter in the previous year, the business posted $2.19 EPS. On average, equities research analysts expect that Otter Tail Co. will post 7.01 EPS for the current year.

Otter Tail Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be given a $0.468 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.87 annualized dividend and a yield of 2.34%. Otter Tail's dividend payout ratio is presently 25.83%.

Analyst Ratings Changes

A number of brokerages have issued reports on OTTR. StockNews.com raised Otter Tail from a "sell" rating to a "hold" rating in a 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.

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.