Entropy Technologies LP Boosts Stake in Otter Tail Co. (NASDAQ:OTTR)

Entropy Technologies LP lifted its position in Otter Tail Co. (NASDAQ:OTTR) by 15.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,850 shares of the utilities provider’s stock after purchasing an additional 1,300 shares during the quarter. Entropy Technologies LP’s holdings in Otter Tail were worth $727,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of Otter Tail in the third quarter valued at approximately $39,000. Allworth Financial LP raised its position in Otter Tail by 132.8% in the 3rd quarter. Allworth Financial LP now owns 547 shares of the utilities provider’s stock valued at $43,000 after purchasing an additional 312 shares during the last quarter. Crews Bank & Trust acquired a new stake in Otter Tail during the 4th quarter worth $81,000. KBC Group NV grew its position in Otter Tail by 27.9% during the 3rd quarter. KBC Group NV now owns 1,248 shares of the utilities provider’s stock worth $98,000 after purchasing an additional 272 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in Otter Tail by 28.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,502 shares of the utilities provider’s stock valued at $111,000 after purchasing an additional 333 shares during the period. Hedge funds and other institutional investors own 61.32% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on OTTR. StockNews.com upgraded shares of Otter Tail from a “sell” rating to a “hold” rating in a research note 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 Performance

NASDAQ:OTTR opened at $79.92 on Wednesday. The firm has a market cap of $3.34 billion, a price-to-earnings ratio of 11.04 and a beta of 0.57. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.17 and a quick ratio of 1.66. Otter Tail Co. has a 1-year low of $71.66 and a 1-year high of $100.84. The firm’s fifty day moving average price is $76.60 and its 200 day moving average price is $80.25.

Otter Tail Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a dividend of $0.525 per share. This is a boost from Otter Tail’s previous quarterly dividend of $0.47. This represents a $2.10 annualized dividend and a yield of 2.63%. The ex-dividend date is Friday, February 14th. Otter Tail’s dividend payout ratio is currently 25.83%.

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.