Otter Tail Co. (NASDAQ:OTTR) Position Reduced by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP trimmed its stake in Otter Tail Co. (NASDAQ:OTTR - Free Report) by 81.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 12,043 shares of the utilities provider's stock after selling 54,457 shares during the period. ExodusPoint Capital Management LP's holdings in Otter Tail were worth $889,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in OTTR. Asset Planning Inc purchased a new stake in shares of Otter Tail during the 4th quarter worth approximately $37,000. Wilmington Savings Fund Society FSB acquired a new stake in Otter Tail in the third quarter valued at about $39,000. Crews Bank & Trust purchased a new stake in shares of Otter Tail in the fourth quarter valued at approximately $81,000. New Age Alpha Advisors LLC acquired a new position in shares of Otter Tail during the 4th quarter worth $94,000. Finally, Nisa Investment Advisors LLC grew its position in Otter Tail by 28.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,502 shares of the utilities provider's stock worth $111,000 after buying an additional 333 shares during the period. 61.32% of the stock is currently owned by institutional investors and hedge funds.

Otter Tail Price Performance

OTTR traded down $0.34 during midday trading on Tuesday, reaching $79.64. 64,511 shares of the company's stock were exchanged, compared to its average volume of 234,142. Otter Tail Co. has a 1-year low of $71.66 and a 1-year high of $100.84. 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 business's 50-day moving average price is $80.06 and its 200 day moving average price is $78.59. The stock has a market capitalization of $3.33 billion, a PE ratio of 11.11 and a beta of 0.49.

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Otter Tail (NASDAQ:OTTR - Get Free Report) last released its earnings results on Monday, February 17th. The utilities provider reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.04. The firm had revenue of $303.11 million for the quarter, compared to the consensus estimate of $314.75 million. Otter Tail had a return on equity of 18.96% and a net margin of 22.67%. As a group, equities analysts anticipate that Otter Tail Co. will post 5.88 EPS for the current fiscal year.

Otter Tail Increases Dividend

The company also recently disclosed 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 boost from Otter Tail's previous quarterly dividend of $0.47. This represents a $2.10 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date was Friday, February 14th. Otter Tail's dividend payout ratio is presently 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.