Quantbot Technologies LP lifted its position in Otter Tail Co. (NASDAQ:OTTR - Free Report) by 191.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,232 shares of the utilities provider's stock after buying an additional 11,327 shares during the quarter. Quantbot Technologies LP's holdings in Otter Tail were worth $1,347,000 as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. Bank & Trust Co bought a new position in Otter Tail during the second quarter valued at about $11,129,000. International Assets Investment Management LLC raised its stake in shares of Otter Tail by 3,339.9% in the 3rd quarter. International Assets Investment Management LLC now owns 76,434 shares of the utilities provider's stock valued at $5,974,000 after acquiring an additional 74,212 shares in the last quarter. Edgestream Partners L.P. lifted its holdings in Otter Tail by 2,055.2% in the 2nd 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 last quarter. Segall Bryant & Hamill LLC bought a new stake in Otter Tail during the third quarter worth approximately $2,947,000. Finally, Victory Capital Management Inc. grew its holdings in Otter Tail by 100.1% during the third quarter. Victory Capital Management Inc. now owns 71,518 shares of the utilities provider's stock valued at $5,590,000 after purchasing an additional 35,783 shares during the last quarter. Institutional investors and hedge funds own 61.32% of the company's stock.
Otter Tail Stock Performance
Shares of NASDAQ:OTTR traded down $0.24 during trading on Friday, hitting $80.64. 119,876 shares of the stock were exchanged, compared to its average volume of 264,230. The company has a market capitalization of $3.37 billion, a price-to-earnings ratio of 11.14 and a beta of 0.52. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.66 and a current ratio of 2.17. The company's fifty day simple moving average is $79.06 and its 200-day simple moving average is $84.72. Otter Tail Co. has a 1-year low of $73.43 and a 1-year high of $100.84.
Otter Tail (NASDAQ:OTTR - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The utilities provider reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.97 by $0.06. The firm had revenue of $338.03 million during the quarter, compared to analyst estimates of $362.20 million. Otter Tail had a net margin of 22.70% and a return on equity of 19.84%. During the same quarter in the prior year, the business posted $2.19 earnings per share. Sell-side analysts expect that Otter Tail Co. will post 7.01 EPS for the current fiscal year.
Otter Tail Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be paid a $0.468 dividend. This represents a $1.87 annualized dividend and a yield of 2.32%. The ex-dividend date is Friday, November 15th. Otter Tail's dividend payout ratio is 25.83%.
Wall Street Analyst Weigh In
OTTR has been the subject of a number of analyst reports. StockNews.com upgraded shares of Otter Tail from a "sell" rating to a "hold" rating in a research note on Thursday, November 14th. Siebert Williams Shank raised shares of Otter Tail from a "strong sell" rating to a "hold" rating in a research report on Wednesday, November 6th.
Read Our Latest Stock Report on OTTR
Otter Tail Profile
(
Free Report)
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.
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