Otter Tail Co. (NASDAQ:OTTR) Shares Acquired by Quantbot Technologies LP

Quantbot Technologies LP increased its position in Otter Tail Co. (NASDAQ:OTTR) by 191.8% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,232 shares of the utilities provider’s stock after purchasing an additional 11,327 shares during the period. Quantbot Technologies LP’s holdings in Otter Tail were worth $1,347,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hancock Whitney Corp boosted its holdings in Otter Tail by 2.9% in the third quarter. Hancock Whitney Corp now owns 4,946 shares of the utilities provider’s stock worth $387,000 after purchasing an additional 139 shares during the period. Dynamic Technology Lab Private Ltd boosted its holdings in shares of Otter Tail by 240.4% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 12,211 shares of the utilities provider’s stock valued at $955,000 after buying an additional 8,624 shares during the period. Citigroup Inc. grew its position in shares of Otter Tail by 56.6% during the 3rd quarter. Citigroup Inc. now owns 53,489 shares of the utilities provider’s stock valued at $4,181,000 after buying an additional 19,324 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Otter Tail by 0.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 509,130 shares of the utilities provider’s stock worth $39,794,000 after acquiring an additional 3,425 shares during the period. Finally, John G Ullman & Associates Inc. bought a new position in Otter Tail in the third quarter worth about $250,000. 61.32% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. StockNews.com raised Otter Tail from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. Siebert Williams Shank raised Otter Tail from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 6th.

Otter Tail Stock Down 0.3 %

OTTR stock opened at $80.64 on Friday. The company has a quick ratio of 1.66, a current ratio of 2.17 and a debt-to-equity ratio of 0.58. The firm’s 50-day simple moving average is $79.06 and its 200 day simple moving average is $84.77. The stock has a market cap of $3.37 billion, a PE ratio of 11.14 and a beta of 0.52. Otter Tail Co. has a fifty-two week low of $73.43 and a fifty-two week high of $100.84.

Otter Tail (NASDAQ:OTTR) last released its quarterly earnings results on Monday, November 4th. The utilities provider reported $2.03 earnings per share for the quarter, beating analysts’ consensus estimates of $1.97 by $0.06. Otter Tail had a return on equity of 19.84% and a net margin of 22.70%. The company had revenue of $338.03 million for the quarter, compared to analysts’ expectations of $362.20 million. During the same quarter in the previous year, the company posted $2.19 earnings per share. As a group, sell-side analysts predict that Otter Tail Co. will post 7.01 EPS for the current year.

Otter Tail Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.468 per share. This represents a $1.87 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend is Friday, November 15th. Otter Tail’s dividend payout ratio (DPR) is 25.83%.

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.