Vanguard Group Inc. Acquires 43,186 Shares of Otter Tail Co. (NASDAQ:OTTR)

Vanguard Group Inc. boosted its position in Otter Tail Co. (NASDAQ:OTTR - Free Report) by 0.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,275,068 shares of the utilities provider's stock after buying an additional 43,186 shares during the quarter. Vanguard Group Inc. owned approximately 12.61% of Otter Tail worth $389,511,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Asset Planning Inc bought a new stake in shares of Otter Tail in the 4th quarter valued at about $37,000. Wilmington Savings Fund Society FSB purchased a new position in Otter Tail in the 3rd quarter worth approximately $39,000. Crews Bank & Trust bought a new stake in Otter Tail in the fourth quarter valued at approximately $81,000. Nisa Investment Advisors LLC boosted its stake in shares of Otter Tail by 28.5% during the fourth 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 grew its holdings in shares of Otter Tail by 28.7% in the fourth quarter. KBC Group NV now owns 1,606 shares of the utilities provider's stock worth $119,000 after purchasing an additional 358 shares during the last quarter. 61.32% of the stock is currently owned by institutional investors.

Otter Tail Trading Down 2.0 %

OTTR traded down $1.50 during midday trading on Monday, reaching $75.27. 504,224 shares of the company's stock traded hands, compared to its average volume of 232,311. Otter Tail Co. has a 52 week low of $71.66 and a 52 week 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 firm has a fifty day moving average of $80.05 and a two-hundred day moving average of $78.66. The stock has a market capitalization of $3.15 billion, a price-to-earnings ratio of 10.50 and a beta of 0.49.

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Otter Tail (NASDAQ:OTTR - Get Free Report) last released 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 net margin of 22.67% and a return on equity of 18.96%. On average, equities analysts anticipate that Otter Tail Co. will post 5.88 earnings per share for the current fiscal year.

Otter Tail Increases Dividend

The business also recently disclosed 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. This is a boost from Otter Tail's previous quarterly dividend of $0.47. The ex-dividend date was Friday, February 14th. This represents a $2.10 dividend on an annualized basis and a yield of 2.79%. Otter Tail's 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.