Otter Tail Co. (NASDAQ:OTTR) Position Boosted by Xponance Inc.

Xponance Inc. boosted its holdings in Otter Tail Co. (NASDAQ:OTTR) by 9.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,946 shares of the utilities provider’s stock after acquiring an additional 246 shares during the quarter. Xponance Inc.’s holdings in Otter Tail were worth $218,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Caisse DE Depot ET Placement DU Quebec bought a new stake in shares of Otter Tail during the third quarter valued at about $6,484,000. Barclays PLC raised its position in shares of Otter Tail by 359.8% during the 3rd quarter. Barclays PLC now owns 70,553 shares of the utilities provider’s stock worth $5,514,000 after buying an additional 55,210 shares in the last quarter. Buck Wealth Strategies LLC acquired a new stake in shares of Otter Tail in the 4th quarter worth approximately $3,982,000. Victory Capital Management Inc. boosted its holdings in shares of Otter Tail by 61.1% in the fourth quarter. Victory Capital Management Inc. now owns 115,211 shares of the utilities provider’s stock valued at $8,507,000 after acquiring an additional 43,693 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Otter Tail during the fourth quarter valued at approximately $2,672,000. Institutional investors and hedge funds own 61.32% of the company’s stock.

Otter Tail Price Performance

Shares of NASDAQ:OTTR opened at $80.73 on Friday. The stock’s 50 day moving average price is $79.97 and its 200 day moving average price is $78.60. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.03 and a quick ratio of 1.66. The stock has a market cap of $3.38 billion, a price-to-earnings ratio of 11.26 and a beta of 0.53. Otter Tail Co. has a 12 month low of $71.66 and a 12 month high of $100.84.

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

Otter Tail Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were paid a $0.525 dividend. The ex-dividend date was Friday, February 14th. This represents a $2.10 annualized dividend and a dividend yield of 2.60%. This is a boost from Otter Tail’s previous quarterly dividend of $0.47. Otter Tail’s 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.