Paloma Partners Management Co Makes New Investment in Otter Tail Co. (NASDAQ:OTTR)

Paloma Partners Management Co purchased a new position in shares of Otter Tail Co. (NASDAQ:OTTR) during the third quarter, HoldingsChannel.com reports. The fund purchased 6,234 shares of the utilities provider’s stock, valued at approximately $487,000.

Other institutional investors have also modified their holdings of the company. Atticus Wealth Management LLC acquired a new stake in shares of Otter Tail in the 2nd quarter valued at about $33,000. Hoese & Co LLP bought a new stake in shares of Otter Tail in the third quarter worth $39,000. Allworth Financial LP boosted its holdings in Otter Tail by 132.8% during the third quarter. Allworth Financial LP now owns 547 shares of the utilities provider’s stock worth $43,000 after purchasing an additional 312 shares during the last quarter. GAMMA Investing LLC grew its position in Otter Tail by 46.3% in the second quarter. GAMMA Investing LLC now owns 657 shares of the utilities provider’s stock valued at $58,000 after purchasing an additional 208 shares in the last quarter. Finally, Quarry LP increased its stake in Otter Tail by 1,811.4% in the 2nd quarter. Quarry LP now owns 669 shares of the utilities provider’s stock valued at $59,000 after buying an additional 634 shares during the last quarter. Institutional investors own 61.32% of the company’s stock.

Otter Tail Price Performance

NASDAQ:OTTR opened at $80.74 on Wednesday. The stock has a market capitalization of $3.38 billion, a PE ratio of 11.15 and a beta of 0.54. Otter Tail Co. has a 1-year low of $73.43 and a 1-year high of $100.84. The firm has a fifty day simple moving average of $79.11 and a 200 day simple moving average of $84.56. The company has a current ratio of 2.17, a quick ratio of 1.66 and a debt-to-equity ratio of 0.58.

Otter Tail (NASDAQ:OTTR) last announced its quarterly earnings data on Monday, November 4th. The utilities provider reported $2.03 EPS for the quarter, beating analysts’ consensus estimates of $1.97 by $0.06. The company had revenue of $338.03 million during the quarter, compared to the consensus estimate of $362.20 million. Otter Tail had a net margin of 22.70% and a return on equity of 19.84%. During the same quarter last year, the firm posted $2.19 EPS. On average, research analysts expect that Otter Tail Co. will post 7.01 EPS for the current fiscal year.

Otter Tail Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be paid a $0.468 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.87 annualized dividend and a yield of 2.32%. Otter Tail’s dividend payout ratio is 25.83%.

Analyst Ratings Changes

A number of equities analysts have recently commented on OTTR shares. Siebert Williams Shank upgraded shares of Otter Tail from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 6th. StockNews.com raised Otter Tail from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th.

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.