Victory Capital Management Inc. Grows Position in Otter Tail Co. (NASDAQ:OTTR)

Victory Capital Management Inc. grew its stake in Otter Tail Co. (NASDAQ:OTTR - Free Report) by 61.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 115,211 shares of the utilities provider's stock after buying an additional 43,693 shares during the quarter. Victory Capital Management Inc. owned approximately 0.28% of Otter Tail worth $8,507,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Crossmark Global Holdings Inc. grew its position in shares of Otter Tail by 9.9% during the third quarter. Crossmark Global Holdings Inc. now owns 3,144 shares of the utilities provider's stock worth $245,000 after purchasing an additional 283 shares in the last quarter. Entropy Technologies LP purchased a new stake in shares of Otter Tail during the third quarter worth about $668,000. KBC Group NV grew its position in shares of Otter Tail by 27.9% during the third quarter. KBC Group NV now owns 1,248 shares of the utilities provider's stock worth $98,000 after purchasing an additional 272 shares in the last quarter. Royce & Associates LP grew its position in shares of Otter Tail by 11.7% during the third quarter. Royce & Associates LP now owns 25,804 shares of the utilities provider's stock worth $2,017,000 after purchasing an additional 2,698 shares in the last quarter. Finally, Quest Partners LLC grew its position in shares of Otter Tail by 15.8% during the third quarter. Quest Partners LLC now owns 12,429 shares of the utilities provider's stock worth $971,000 after purchasing an additional 1,694 shares in the last quarter. Hedge funds and other institutional investors own 61.32% of the company's stock.

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Otter Tail Price Performance

Shares of NASDAQ:OTTR traded down $0.33 during trading on Tuesday, hitting $83.02. 197,054 shares of the company's stock were exchanged, compared to its average volume of 223,870. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.03 and a quick ratio of 1.66. Otter Tail Co. has a 52-week low of $71.66 and a 52-week high of $100.84. The business's 50-day simple moving average is $79.02 and its 200 day simple moving average is $78.53. The company has a market cap of $3.48 billion, a price-to-earnings ratio of 11.58 and a beta of 0.53.

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 (EPS) for the quarter, topping 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 during the quarter, compared to analysts' expectations of $314.75 million. As a group, equities analysts predict that Otter Tail Co. will post 5.88 EPS for the current year.

Otter Tail Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 2.53%. The ex-dividend date was Friday, February 14th. This is a boost from Otter Tail's previous quarterly dividend of $0.47. Otter Tail's dividend payout ratio (DPR) 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.