Citigroup Inc. Grows Stock Holdings in Otter Tail Co. (NASDAQ:OTTR)

Citigroup Inc. increased its position in shares of Otter Tail Co. (NASDAQ:OTTR) by 56.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 53,489 shares of the utilities provider’s stock after buying an additional 19,324 shares during the quarter. Citigroup Inc.’s holdings in Otter Tail were worth $4,181,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OTTR. Atticus Wealth Management LLC acquired a new position in shares of Otter Tail in the second quarter worth $33,000. Hoese & Co LLP acquired a new position in Otter Tail in the third quarter valued at $39,000. Allworth Financial LP boosted its stake in Otter Tail by 132.8% in the third quarter. Allworth Financial LP now owns 547 shares of the utilities provider’s stock valued at $43,000 after acquiring an additional 312 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of 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 buying an additional 208 shares during the last quarter. Finally, Quarry LP raised its holdings in shares of Otter Tail by 1,811.4% in the second 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. Hedge funds and other institutional investors own 61.32% of the company’s stock.

Otter Tail Trading Down 0.2 %

Shares of NASDAQ:OTTR opened at $80.74 on Wednesday. Otter Tail Co. has a fifty-two week low of $73.43 and a fifty-two week high of $100.84. The company has a market cap of $3.38 billion, a PE ratio of 11.15 and a beta of 0.54. The company’s 50-day moving average price is $79.11 and its 200 day moving average price is $84.56. The company has a quick ratio of 1.66, a current ratio of 2.17 and a debt-to-equity ratio of 0.58.

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

Otter Tail Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be given a dividend of $0.468 per share. This represents a $1.87 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend is Friday, November 15th. Otter Tail’s dividend payout ratio (DPR) is currently 25.83%.

Analysts Set New Price Targets

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