Otter Tail Co. (NASDAQ:OTTR) Shares Sold by Phocas Financial Corp.

Phocas Financial Corp. cut its position in Otter Tail Co. (NASDAQ:OTTR - Free Report) by 85.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,244 shares of the utilities provider's stock after selling 87,037 shares during the quarter. Phocas Financial Corp.'s holdings in Otter Tail were worth $1,126,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. XTX Topco Ltd acquired a new stake in shares of Otter Tail in the third quarter valued at $589,000. GSA Capital Partners LLP grew its stake in Otter Tail by 285.1% during the 3rd quarter. GSA Capital Partners LLP now owns 19,030 shares of the utilities provider's stock worth $1,487,000 after purchasing an additional 14,089 shares in the last quarter. Intech Investment Management LLC acquired a new position in Otter Tail during the 3rd quarter worth $683,000. Stifel Financial Corp acquired a new position in Otter Tail during the 3rd quarter worth $238,000. Finally, Assenagon Asset Management S.A. acquired a new position in Otter Tail during the 4th quarter worth $455,000. 61.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Siebert Williams Shank raised Otter Tail from a "strong sell" rating to a "hold" rating in a research note on Wednesday, November 6th. StockNews.com raised Otter Tail from a "sell" rating to a "hold" rating in a research note on Thursday, November 14th.

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Otter Tail Stock Up 0.4 %

OTTR traded up $0.28 on Friday, hitting $79.73. 216,719 shares of the company were exchanged, compared to its average volume of 238,598. Otter Tail Co. has a twelve month low of $71.66 and a twelve month high of $100.84. The company has a market cap of $3.33 billion, a price-to-earnings ratio of 11.12 and a beta of 0.57. The company has a current ratio of 2.03, a quick ratio of 1.66 and a debt-to-equity ratio of 0.57. The firm has a 50-day moving average price of $77.45 and a two-hundred day moving average price of $79.16.

Otter Tail (NASDAQ:OTTR - Get Free Report) last announced its quarterly earnings results on Monday, February 17th. The utilities provider reported $1.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.26 by $0.04. The company had revenue of $303.11 million during 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%. On average, equities analysts predict that Otter Tail Co. will post 5.88 earnings per share for the current year.

Otter Tail Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 2.63%. This is an increase from Otter Tail's previous quarterly dividend of $0.47. The ex-dividend date is Friday, February 14th. Otter Tail's payout ratio is 29.29%.

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.