Otter Tail Co. (NASDAQ:OTTR) Shares Bought by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC grew its position in Otter Tail Co. (NASDAQ:OTTR) by 26.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,641 shares of the utilities provider’s stock after purchasing an additional 5,550 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Otter Tail were worth $2,082,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of OTTR. SG Americas Securities LLC lifted its holdings in Otter Tail by 108.3% during the 1st quarter. SG Americas Securities LLC now owns 4,499 shares of the utilities provider’s stock worth $389,000 after buying an additional 2,339 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in Otter Tail by 4,836.6% in the first quarter. Russell Investments Group Ltd. now owns 15,106 shares of the utilities provider’s stock valued at $1,305,000 after purchasing an additional 14,800 shares in the last quarter. Avantax Advisory Services Inc. increased its stake in Otter Tail by 10.8% in the first quarter. Avantax Advisory Services Inc. now owns 5,636 shares of the utilities provider’s stock valued at $487,000 after purchasing an additional 549 shares during the last quarter. State Board of Administration of Florida Retirement System raised its holdings in Otter Tail by 113.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 41,199 shares of the utilities provider’s stock worth $3,560,000 after purchasing an additional 21,908 shares in the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new stake in shares of Otter Tail during the 1st quarter worth approximately $2,276,000. 61.32% of the stock is owned by hedge funds and other institutional investors.

Otter Tail Price Performance

Shares of NASDAQ OTTR opened at $80.31 on Thursday. The stock has a market cap of $3.36 billion, a P/E ratio of 11.09 and a beta of 0.52. Otter Tail Co. has a twelve month low of $73.43 and a twelve month high of $100.84. The stock has a 50 day moving average of $78.52 and a two-hundred day moving average of $85.54. 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 earnings results 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 business had revenue of $338.03 million for the quarter, compared to analysts’ expectations of $362.20 million. Otter Tail had a net margin of 22.70% and a return on equity of 19.84%. During the same period in the previous year, the company posted $2.19 EPS. On average, research analysts forecast that Otter Tail Co. will post 7.01 earnings per share for the current year.

Otter Tail Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors 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 2.33%. The ex-dividend date is Friday, November 15th. Otter Tail’s dividend payout ratio is currently 25.83%.

Wall Street Analyst Weigh In

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

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.