4,189 Shares in Otter Tail Co. (NASDAQ:OTTR) Purchased by Vestcor Inc

Vestcor Inc bought a new position in Otter Tail Co. (NASDAQ:OTTR - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 4,189 shares of the utilities provider's stock, valued at approximately $309,000.

Several other hedge funds have also added to or reduced their stakes in OTTR. Asset Planning Inc bought a new position in shares of Otter Tail in the fourth quarter worth approximately $37,000. Wilmington Savings Fund Society FSB purchased a new stake in Otter Tail during the 3rd quarter valued at $39,000. Crews Bank & Trust purchased a new stake in Otter Tail during the 4th quarter valued at $81,000. KBC Group NV grew its holdings in Otter Tail by 27.9% in the 3rd quarter. KBC Group NV now owns 1,248 shares of the utilities provider's stock worth $98,000 after acquiring an additional 272 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its position in shares of Otter Tail by 28.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,502 shares of the utilities provider's stock valued at $111,000 after acquiring an additional 333 shares during the period. 61.32% of the stock is owned by institutional investors.

Otter Tail Trading Down 1.8 %

Shares of NASDAQ:OTTR traded down $1.48 during midday trading on Friday, hitting $80.87. 1,727,261 shares of the stock traded hands, compared to its average volume of 229,675. 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 capitalization of $3.39 billion, a PE ratio of 11.28 and a beta of 0.53. Otter Tail Co. has a one year low of $71.66 and a one year high of $100.84. The business's 50 day moving average is $79.53 and its two-hundred day moving average is $78.58.

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Otter Tail (NASDAQ:OTTR - Get Free Report) last issued its quarterly earnings data on Monday, February 17th. The utilities provider reported $1.30 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $314.75 million. As a group, research analysts forecast that Otter Tail Co. will post 5.88 earnings per share for the current year.

Otter Tail Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were given a $0.525 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.10 annualized dividend and a dividend yield of 2.60%. This is a positive change from Otter Tail's previous quarterly dividend of $0.47. Otter Tail's dividend 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.