Wells Fargo & Company MN Has $3.85 Million Position in Otter Tail Co. (NASDAQ:OTTR)

Wells Fargo & Company MN raised its holdings in shares of Otter Tail Co. (NASDAQ:OTTR - Free Report) by 13.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,149 shares of the utilities provider's stock after purchasing an additional 6,331 shares during the period. Wells Fargo & Company MN owned about 0.12% of Otter Tail worth $3,851,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. grew its position in shares of Otter Tail by 93.5% during the fourth quarter. JPMorgan Chase & Co. now owns 189,345 shares of the utilities provider's stock worth $13,981,000 after acquiring an additional 91,516 shares during the last quarter. Barclays PLC grew its position in Otter Tail by 359.8% in the 3rd quarter. Barclays PLC now owns 70,553 shares of the utilities provider's stock worth $5,514,000 after purchasing an additional 55,210 shares during the last quarter. Buck Wealth Strategies LLC bought a new position in Otter Tail in the 4th quarter worth about $3,982,000. Victory Capital Management Inc. increased its stake in shares of Otter Tail by 61.1% in the fourth quarter. Victory Capital Management Inc. now owns 115,211 shares of the utilities provider's stock valued at $8,507,000 after purchasing an additional 43,693 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Otter Tail by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 5,275,068 shares of the utilities provider's stock worth $389,511,000 after buying an additional 43,186 shares during the period. 61.32% of the stock is owned by institutional investors and hedge funds.

Otter Tail Stock Performance

OTTR stock traded down $1.57 during trading on Friday, reaching $77.56. 104,144 shares of the company's stock were exchanged, compared to its average volume of 236,325. Otter Tail Co. has a 1-year low of $71.66 and a 1-year high of $100.84. The firm has a market cap of $3.25 billion, a PE ratio of 10.81 and a beta of 0.49. The company's fifty day moving average price is $80.07 and its 200-day moving average price is $78.65. The company has a quick ratio of 1.66, a current ratio of 2.03 and a debt-to-equity ratio of 0.57.

Otter Tail (NASDAQ:OTTR - Get Free Report) last released its earnings results on Monday, February 17th. The utilities provider reported $1.30 EPS for the quarter, beating the consensus estimate of $1.26 by $0.04. The firm had revenue of $303.11 million for the quarter, compared to analysts' expectations of $314.75 million. Otter Tail had a net margin of 22.67% and a return on equity of 18.96%. On average, research analysts expect that Otter Tail Co. will post 5.88 EPS for the current fiscal year.

Otter Tail Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a $0.525 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.10 annualized dividend and a dividend yield of 2.71%. This is a boost from Otter Tail's previous quarterly dividend of $0.47. Otter Tail's dividend payout ratio is currently 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.