Occudo Quantitative Strategies LP Purchases Shares of 6,885 Otter Tail Co. (NASDAQ:OTTR)

Occudo Quantitative Strategies LP purchased a new stake in shares of Otter Tail Co. (NASDAQ:OTTR) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 6,885 shares of the utilities provider’s stock, valued at approximately $508,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Asset Planning Inc acquired a new position in Otter Tail during the fourth quarter valued at approximately $37,000. Crews Bank & Trust acquired a new position in Otter Tail during the fourth quarter valued at approximately $81,000. New Age Alpha Advisors LLC acquired a new stake in shares of Otter Tail in the fourth quarter worth $94,000. Nisa Investment Advisors LLC grew its stake in shares of Otter Tail by 28.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,502 shares of the utilities provider’s stock worth $111,000 after acquiring an additional 333 shares during the last quarter. Finally, KBC Group NV grew its stake in shares of Otter Tail by 28.7% in the fourth quarter. KBC Group NV now owns 1,606 shares of the utilities provider’s stock worth $119,000 after acquiring an additional 358 shares during the last quarter. Institutional investors and hedge funds own 61.32% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Siebert Williams Shank upgraded shares of Otter Tail from a “hold” rating to a “buy” rating and raised their price objective for the stock from $82.00 to $83.00 in a research note on Wednesday, May 7th.

Otter Tail Trading Down 1.5%

Shares of Otter Tail stock opened at $77.42 on Thursday. The company’s fifty day simple moving average is $79.47 and its 200-day simple moving average is $78.72. The company has a market cap of $3.24 billion, a price-to-earnings ratio of 10.80 and a beta of 0.56. The company has a current ratio of 2.03, a quick ratio of 1.66 and a debt-to-equity ratio of 0.57. Otter Tail Co. has a 1 year low of $71.66 and a 1 year high of $100.84.

Otter Tail (NASDAQ:OTTR) last announced its quarterly earnings data on Monday, May 5th. The utilities provider reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.53 by $0.09. The business had revenue of $337.35 million for the quarter, compared to the consensus estimate of $349.70 million. Otter Tail had a net margin of 22.67% and a return on equity of 18.96%. Otter Tail’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter last year, the company posted $1.77 earnings per share. As a group, sell-side analysts expect that Otter Tail Co. will post 5.88 EPS for the current year.

Otter Tail Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Thursday, May 15th will be paid a $0.525 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $2.10 annualized dividend and a dividend yield of 2.71%. Otter Tail’s payout ratio is 29.91%.

Otter Tail Company 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.