Raymond James Financial Inc. Makes New Investment in Otter Tail Co. (NASDAQ:OTTR)

Raymond James Financial Inc. acquired a new position in shares of Otter Tail Co. (NASDAQ:OTTR - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 36,182 shares of the utilities provider's stock, valued at approximately $2,672,000. Raymond James Financial Inc. owned about 0.09% of Otter Tail as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new position in shares of Otter Tail during the third quarter worth approximately $39,000. Asset Planning Inc bought a new position in Otter Tail during the fourth quarter worth $37,000. Crews Bank & Trust acquired a new position in Otter Tail during the 4th quarter valued at $81,000. Nisa Investment Advisors LLC boosted its holdings in Otter Tail by 28.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,502 shares of the utilities provider's stock valued at $111,000 after purchasing an additional 333 shares during the period. Finally, KBC Group NV boosted its holdings in Otter Tail by 28.7% in the 4th quarter. KBC Group NV now owns 1,606 shares of the utilities provider's stock valued at $119,000 after purchasing an additional 358 shares during the period. Institutional investors own 61.32% of the company's stock.

Otter Tail Stock Performance

Shares of NASDAQ:OTTR traded up $0.46 on Wednesday, hitting $81.76. 190,331 shares of the company were exchanged, compared to its average volume of 229,190. The company's 50 day moving average price is $80.08 and its two-hundred day moving average price is $78.70. The firm has a market capitalization of $3.42 billion, a price-to-earnings ratio of 11.40 and a beta of 0.53. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.66 and a current ratio of 2.03. Otter Tail Co. has a one year low of $71.66 and a one year high of $100.84.

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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 (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.04. Otter Tail had a return on equity of 18.96% and a net margin of 22.67%. The firm had revenue of $303.11 million for the quarter, compared to analyst estimates of $314.75 million. Research analysts expect 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 was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were paid a dividend of $0.525 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.10 dividend on an annualized basis and a yield of 2.57%. This is an increase from Otter Tail's previous quarterly dividend of $0.47. Otter Tail's payout ratio is currently 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.