Cibc World Markets Corp Takes $286,000 Position in Otter Tail Co. (NASDAQ:OTTR)

Cibc World Markets Corp purchased a new position in Otter Tail Co. (NASDAQ:OTTR) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,870 shares of the utilities provider’s stock, valued at approximately $286,000.

A number of other large investors also recently added to or reduced their stakes in OTTR. Royce & Associates LP increased its position in shares of Otter Tail by 10.7% during the fourth quarter. Royce & Associates LP now owns 28,555 shares of the utilities provider’s stock worth $2,109,000 after purchasing an additional 2,751 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in Otter Tail by 13.8% during the 4th quarter. Commonwealth Equity Services LLC now owns 19,510 shares of the utilities provider’s stock worth $1,441,000 after purchasing an additional 2,367 shares during the last quarter. Vestcor Inc purchased a new stake in shares of Otter Tail during the fourth quarter worth $309,000. Swiss National Bank raised its position in shares of Otter Tail by 0.7% in the fourth quarter. Swiss National Bank now owns 74,000 shares of the utilities provider’s stock valued at $5,464,000 after buying an additional 500 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Otter Tail by 11.8% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 23,155 shares of the utilities provider’s stock worth $1,710,000 after buying an additional 2,446 shares in the last quarter. 61.32% of the stock is currently owned by institutional investors and hedge funds.

Otter Tail Stock Down 1.5 %

Shares of NASDAQ OTTR opened at $79.60 on Wednesday. The company has a current ratio of 2.03, a quick ratio of 1.66 and a debt-to-equity ratio of 0.57. The company has a 50-day moving average of $79.83 and a 200 day moving average of $78.56. Otter Tail Co. has a 12-month low of $71.66 and a 12-month high of $100.84. The stock has a market cap of $3.33 billion, a PE ratio of 11.10 and a beta of 0.53.

Otter Tail (NASDAQ:OTTR) last announced its quarterly earnings data on Monday, February 17th. The utilities provider reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.04. Otter Tail had a net margin of 22.67% and a return on equity of 18.96%. The firm had revenue of $303.11 million during the quarter, compared to analyst estimates of $314.75 million. As a group, sell-side analysts predict that Otter Tail Co. will post 5.88 EPS for the current fiscal year.

Otter Tail Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were given a $0.525 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.10 dividend on an annualized basis and a yield of 2.64%. This is a boost from Otter Tail’s previous quarterly dividend of $0.47. Otter Tail’s dividend payout ratio is presently 29.29%.

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.