6,911 Shares in Otter Tail Co. (NASDAQ:OTTR) Acquired by Denali Advisors LLC

Denali Advisors LLC acquired a new stake in Otter Tail Co. (NASDAQ:OTTR) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 6,911 shares of the utilities provider’s stock, valued at approximately $510,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Caisse DE Depot ET Placement DU Quebec bought a new position in shares of Otter Tail during the 3rd quarter worth $6,484,000. International Assets Investment Management LLC increased its stake in shares of Otter Tail by 3,339.9% in the third quarter. International Assets Investment Management LLC now owns 76,434 shares of the utilities provider’s stock worth $5,974,000 after purchasing an additional 74,212 shares in the last quarter. Barclays PLC increased its stake in shares of Otter Tail by 359.8% in the third quarter. Barclays PLC now owns 70,553 shares of the utilities provider’s stock worth $5,514,000 after purchasing an additional 55,210 shares in the last quarter. Buck Wealth Strategies LLC purchased a new stake in shares of Otter Tail during the 4th quarter valued at approximately $3,982,000. Finally, Segall Bryant & Hamill LLC bought a new position in Otter Tail in the 3rd quarter worth approximately $2,947,000. 61.32% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Otter Tail Trading Down 1.0 %

Shares of OTTR opened at $80.64 on Thursday. The business’s 50-day moving average price is $77.13 and its 200-day moving average price is $79.21. The company has a quick ratio of 1.66, a current ratio of 2.03 and a debt-to-equity ratio of 0.57. Otter Tail Co. has a twelve month low of $71.66 and a twelve month high of $100.84. The stock has a market cap of $3.37 billion, a PE ratio of 11.25 and a beta of 0.57.

Otter Tail (NASDAQ:OTTR) last announced its quarterly earnings results on Monday, February 17th. The utilities provider reported $1.30 EPS for the quarter, beating the consensus estimate of $1.26 by $0.04. The firm had revenue of $303.11 million during the quarter, compared to the consensus estimate of $314.75 million. Otter Tail had a net margin of 22.67% and a return on equity of 18.96%. On average, equities analysts forecast that Otter Tail Co. will post 5.88 EPS for the current fiscal year.

Otter Tail Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a $0.525 dividend. This is a positive change from Otter Tail’s previous quarterly dividend of $0.47. This represents a $2.10 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend is Friday, February 14th. Otter Tail’s dividend payout ratio is currently 29.29%.

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.