Otter Tail Co. (NASDAQ:OTTR) Holdings Raised by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its holdings in Otter Tail Co. (NASDAQ:OTTR - Free Report) by 100.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 71,518 shares of the utilities provider's stock after purchasing an additional 35,783 shares during the period. Victory Capital Management Inc. owned about 0.17% of Otter Tail worth $5,590,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Otter Tail by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 5,238,510 shares of the utilities provider's stock valued at $452,607,000 after buying an additional 197,617 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Otter Tail by 0.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,035,541 shares of the utilities provider's stock worth $90,703,000 after acquiring an additional 3,974 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Otter Tail by 1.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 435,005 shares of the utilities provider's stock worth $38,102,000 after purchasing an additional 4,862 shares during the last quarter. Federated Hermes Inc. raised its stake in shares of Otter Tail by 3.6% in the 2nd quarter. Federated Hermes Inc. now owns 143,074 shares of the utilities provider's stock valued at $12,532,000 after purchasing an additional 4,997 shares in the last quarter. Finally, Bank & Trust Co acquired a new stake in shares of Otter Tail in the 2nd quarter valued at about $11,129,000. Institutional investors and hedge funds own 61.32% of the company's stock.

Otter Tail Stock Performance

OTTR stock traded up $0.20 during trading on Friday, hitting $80.78. 281,982 shares of the company's stock traded hands, compared to its average volume of 258,074. The stock has a fifty day moving average price of $78.92 and a two-hundred day moving average price of $85.20. The company has a quick ratio of 1.66, a current ratio of 2.17 and a debt-to-equity ratio of 0.58. Otter Tail Co. has a 52 week low of $73.43 and a 52 week high of $100.84. The stock has a market capitalization of $3.38 billion, a price-to-earnings ratio of 11.16 and a beta of 0.52.

Otter Tail (NASDAQ:OTTR - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The utilities provider reported $2.03 earnings per share for the quarter, topping the consensus estimate of $1.97 by $0.06. Otter Tail had a net margin of 22.70% and a return on equity of 19.84%. The firm had revenue of $338.03 million for the quarter, compared to analyst estimates of $362.20 million. During the same quarter in the prior year, the business earned $2.19 earnings per share. As a group, equities analysts anticipate that Otter Tail Co. will post 7.01 EPS for the current fiscal year.

Otter Tail Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be given a dividend of $0.468 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.87 dividend on an annualized basis and a yield of 2.32%. Otter Tail's dividend payout ratio is currently 25.83%.

Wall Street Analyst Weigh In

A number of research firms recently commented on OTTR. Siebert Williams Shank upgraded Otter Tail from a "strong sell" rating to a "hold" rating in a research note on Wednesday, November 6th. StockNews.com upgraded Otter Tail from a "sell" rating to a "hold" rating in a research report on Thursday, November 14th.

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.