Mackenzie Financial Corp Reduces Stock Holdings in Otter Tail Co. (NASDAQ:OTTR)

Mackenzie Financial Corp decreased its position in Otter Tail Co. (NASDAQ:OTTR) by 2.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,301 shares of the utilities provider’s stock after selling 795 shares during the quarter. Mackenzie Financial Corp owned 0.08% of Otter Tail worth $2,660,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Ronald Blue Trust Inc. increased its position in shares of Otter Tail by 70.6% during the third quarter. Ronald Blue Trust Inc. now owns 672 shares of the utilities provider’s stock worth $53,000 after acquiring an additional 278 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Otter Tail in the 3rd quarter valued at approximately $58,000. Blue Trust Inc. boosted its stake in shares of Otter Tail by 53.9% during the 4th quarter. Blue Trust Inc. now owns 1,034 shares of the utilities provider’s stock valued at $88,000 after buying an additional 362 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Otter Tail during the fourth quarter worth approximately $130,000. Finally, Milestone Investment Advisors LLC bought a new stake in shares of Otter Tail in the third quarter worth $152,000. Hedge funds and other institutional investors own 61.32% of the company’s stock.

Otter Tail Trading Up 0.0 %

OTTR opened at $84.28 on Tuesday. Otter Tail Co. has a 12-month low of $68.96 and a 12-month high of $99.49. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.84 and a quick ratio of 1.36. The stock has a market capitalization of $3.52 billion, a PE ratio of 12.04 and a beta of 0.56. The firm’s fifty day moving average price is $85.14 and its 200 day moving average price is $82.57.

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

Otter Tail Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Thursday, February 15th were given a $0.468 dividend. This is a positive change from Otter Tail’s previous quarterly dividend of $0.44. The ex-dividend date was Wednesday, February 14th. This represents a $1.87 annualized dividend and a dividend yield of 2.22%. Otter Tail’s dividend payout ratio (DPR) is presently 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.