Cerity Partners LLC Has $2.35 Million Stake in Otter Tail Co. (NASDAQ:OTTR)

Cerity Partners LLC cut its stake in shares of Otter Tail Co. (NASDAQ:OTTR) by 2.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,628 shares of the utilities provider’s stock after selling 727 shares during the quarter. Cerity Partners LLC owned approximately 0.07% of Otter Tail worth $2,348,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. International Assets Investment Management LLC lifted its stake in shares of Otter Tail by 8,231.5% in the fourth quarter. International Assets Investment Management LLC now owns 187,958 shares of the utilities provider’s stock worth $15,971,000 after acquiring an additional 185,702 shares during the period. Fuller & Thaler Asset Management Inc. boosted its stake in shares of Otter Tail by 32.0% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 545,488 shares of the utilities provider’s stock valued at $41,413,000 after purchasing an additional 132,162 shares during the last quarter. Rhumbline Advisers raised its stake in Otter Tail by 10.7% during the third quarter. Rhumbline Advisers now owns 116,001 shares of the utilities provider’s stock worth $8,807,000 after buying an additional 11,173 shares during the last quarter. Jump Financial LLC acquired a new position in Otter Tail in the third quarter valued at $698,000. Finally, QRG Capital Management Inc. bought a new stake in Otter Tail during the third quarter valued at $456,000. Institutional investors own 61.32% of the company’s stock.

Otter Tail Stock Performance

Shares of Otter Tail stock opened at $82.29 on Friday. The company has a market cap of $3.43 billion, a P/E ratio of 11.76 and a beta of 0.56. The company has a current ratio of 1.84, a quick ratio of 1.36 and a debt-to-equity ratio of 0.57. The business has a 50-day moving average price of $85.71 and a two-hundred day moving average price of $82.32. Otter Tail Co. has a 1-year low of $68.96 and a 1-year high of $99.49.

Otter Tail (NASDAQ:OTTR) last issued its earnings results on Tuesday, February 13th. The utilities provider reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.03. The business had revenue of $314.31 million during the quarter, compared to the consensus estimate of $300.60 million. Otter Tail had a return on equity of 21.64% and a net margin of 21.81%. During the same period in the previous year, the company posted $1.00 earnings per share. As a group, analysts anticipate that Otter Tail Co. will post 5.28 EPS for the current year.

Otter Tail Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Thursday, February 15th were paid a dividend of $0.468 per share. The ex-dividend date was Wednesday, February 14th. This is a positive change from Otter Tail’s previous quarterly dividend of $0.44. This represents a $1.87 annualized dividend and a yield of 2.27%. Otter Tail’s dividend payout ratio is currently 26.71%.

About Otter Tail

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.