GAMMA Investing LLC bought a new position in Otter Tail Co. (NASDAQ:OTTR – Free Report) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 690 shares of the utilities provider’s stock, valued at approximately $62,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Quantbot Technologies LP purchased a new position in shares of Otter Tail during the third quarter worth about $58,000. Blue Trust Inc. grew its stake in Otter Tail by 53.9% in the 4th quarter. Blue Trust Inc. now owns 1,034 shares of the utilities provider’s stock worth $88,000 after buying an additional 362 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Otter Tail in the 4th quarter worth $130,000. Milestone Investment Advisors LLC purchased a new stake in shares of Otter Tail during the 3rd quarter valued at $152,000. Finally, CI Investments Inc. bought a new stake in shares of Otter Tail during the 3rd quarter worth $158,000. Institutional investors own 61.32% of the company’s stock.
Otter Tail Stock Up 1.6 %
OTTR opened at $86.71 on Thursday. The company has a quick ratio of 1.36, a current ratio of 1.84 and a debt-to-equity ratio of 0.57. The business’s fifty day simple moving average is $84.62 and its 200 day simple moving average is $83.02. Otter Tail Co. has a 52 week low of $68.96 and a 52 week high of $99.49. The stock has a market cap of $3.62 billion, a PE ratio of 12.39 and a beta of 0.56.
Otter Tail Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Thursday, February 15th were paid a $0.468 dividend. This is a boost from Otter Tail’s previous quarterly dividend of $0.44. The ex-dividend date was Wednesday, February 14th. This represents a $1.87 dividend on an annualized basis and a dividend yield of 2.16%. Otter Tail’s dividend payout ratio is 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.
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