Thrivent Financial for Lutherans Sells 1,865 Shares of Otter Tail Co. (NASDAQ:OTTR)

Thrivent Financial for Lutherans trimmed its holdings in Otter Tail Co. (NASDAQ:OTTR) by 5.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,847 shares of the utilities provider’s stock after selling 1,865 shares during the period. Thrivent Financial for Lutherans owned about 0.08% of Otter Tail worth $2,567,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Bank & Trust Co purchased a new position in Otter Tail during the 2nd quarter worth $11,129,000. International Assets Investment Management LLC lifted its position in shares of Otter Tail by 3,339.9% during the 3rd quarter. International Assets Investment Management LLC now owns 76,434 shares of the utilities provider’s stock worth $5,974,000 after buying an additional 74,212 shares in the last quarter. Edgestream Partners L.P. boosted its stake in shares of Otter Tail by 2,055.2% in the 2nd quarter. Edgestream Partners L.P. now owns 67,695 shares of the utilities provider’s stock worth $5,929,000 after buying an additional 64,554 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Otter Tail by 100.1% in the third quarter. Victory Capital Management Inc. now owns 71,518 shares of the utilities provider’s stock valued at $5,590,000 after acquiring an additional 35,783 shares in the last quarter. Finally, Squarepoint Ops LLC increased its position in shares of Otter Tail by 129.5% during the second quarter. Squarepoint Ops LLC now owns 43,658 shares of the utilities provider’s stock valued at $3,824,000 after acquiring an additional 24,635 shares during the last quarter. 61.32% of the stock is currently owned by institutional investors and hedge funds.

Otter Tail Stock Down 2.1 %

Otter Tail stock opened at $80.23 on Wednesday. The company has a quick ratio of 1.66, a current ratio of 2.17 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $3.36 billion, a P/E ratio of 11.32 and a beta of 0.52. The firm has a 50 day moving average price of $78.98 and a 200-day moving average price of $85.05. Otter Tail Co. has a twelve month low of $73.43 and a twelve month high of $100.84.

Otter Tail (NASDAQ:OTTR) last released its earnings results on Monday, November 4th. The utilities provider reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.97 by $0.06. Otter Tail had a return on equity of 19.84% and a net margin of 22.70%. The business had revenue of $338.03 million during the quarter, compared to the consensus estimate of $362.20 million. During the same period last year, the business posted $2.19 earnings per share. As a group, equities analysts predict that Otter Tail Co. will post 7.01 EPS for the current year.

Otter Tail Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be paid a dividend of $0.468 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.87 dividend on an annualized basis and a dividend yield of 2.33%. Otter Tail’s payout ratio is 25.83%.

Analyst Ratings Changes

Several research analysts have weighed in on OTTR shares. Siebert Williams Shank raised Otter Tail from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 6th. StockNews.com raised shares of Otter Tail from a “sell” rating to a “hold” rating in a 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.