Charles Schwab Investment Management Inc. Has $39.62 Million Position in Otter Tail Co. (NASDAQ:OTTR)

Charles Schwab Investment Management Inc. increased its stake in shares of Otter Tail Co. (NASDAQ:OTTR - Free Report) by 5.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 536,545 shares of the utilities provider's stock after buying an additional 27,415 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.28% of Otter Tail worth $39,618,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in OTTR. Private Advisor Group LLC grew its position in Otter Tail by 2.8% during the 4th quarter. Private Advisor Group LLC now owns 4,826 shares of the utilities provider's stock worth $356,000 after acquiring an additional 131 shares during the last quarter. Hancock Whitney Corp grew its holdings in shares of Otter Tail by 2.9% during the third quarter. Hancock Whitney Corp now owns 4,946 shares of the utilities provider's stock worth $387,000 after purchasing an additional 139 shares during the last quarter. Quantinno Capital Management LP increased its stake in shares of Otter Tail by 6.6% in the third quarter. Quantinno Capital Management LP now owns 2,614 shares of the utilities provider's stock valued at $204,000 after buying an additional 162 shares in the last quarter. D.A. Davidson & CO. raised its holdings in shares of Otter Tail by 3.8% in the fourth quarter. D.A. Davidson & CO. now owns 6,958 shares of the utilities provider's stock valued at $514,000 after buying an additional 253 shares during the last quarter. Finally, KBC Group NV raised its holdings in shares of Otter Tail by 27.9% in the third quarter. KBC Group NV now owns 1,248 shares of the utilities provider's stock valued at $98,000 after buying an additional 272 shares during the last quarter. 61.32% of the stock is owned by institutional investors.

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Otter Tail Price Performance

NASDAQ:OTTR traded up $0.91 during mid-day trading on Wednesday, reaching $83.93. 84,000 shares of the company were exchanged, compared to its average volume of 244,593. The company has a quick ratio of 1.66, a current ratio of 2.03 and a debt-to-equity ratio of 0.57. The stock has a market cap of $3.51 billion, a PE ratio of 11.71 and a beta of 0.53. Otter Tail Co. has a 12 month low of $71.66 and a 12 month high of $100.84. The company has a fifty day moving average of $79.20 and a 200 day moving average of $78.52.

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, beating analysts' consensus estimates of $1.26 by $0.04. Otter Tail had a net margin of 22.67% and a return on equity of 18.96%. The business had revenue of $303.11 million during the quarter, compared to analyst estimates of $314.75 million. On average, research analysts anticipate that Otter Tail Co. will post 5.88 EPS for the current fiscal year.

Otter Tail Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend was Friday, February 14th. This is a positive change from Otter Tail's previous quarterly dividend of $0.47. Otter Tail's dividend payout ratio is 29.29%.

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.