Crossmark Global Holdings Inc. Acquires 283 Shares of Otter Tail Co. (NASDAQ:OTTR)

Crossmark Global Holdings Inc. grew its holdings in shares of Otter Tail Co. (NASDAQ:OTTR) by 9.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,144 shares of the utilities provider’s stock after purchasing an additional 283 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Otter Tail were worth $245,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in OTTR. Atticus Wealth Management LLC purchased a new stake in Otter Tail during the second quarter worth about $33,000. Hoese & Co LLP purchased a new stake in shares of Otter Tail during the 3rd quarter worth approximately $39,000. Allworth Financial LP increased its stake in shares of Otter Tail by 132.8% during the 3rd quarter. Allworth Financial LP now owns 547 shares of the utilities provider’s stock worth $43,000 after purchasing an additional 312 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Otter Tail by 46.3% in the 2nd quarter. GAMMA Investing LLC now owns 657 shares of the utilities provider’s stock worth $58,000 after purchasing an additional 208 shares during the period. Finally, Quarry LP lifted its stake in 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 purchasing an additional 634 shares during the last quarter. 61.32% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

OTTR has been the topic of several research reports. Siebert Williams Shank upgraded Otter Tail from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 6th. StockNews.com upgraded Otter Tail from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th.

Otter Tail Stock Performance

Shares of OTTR stock opened at $80.09 on Tuesday. The firm’s 50 day moving average is $78.61 and its 200 day moving average is $85.45. The stock has a market capitalization of $3.35 billion, a P/E ratio of 11.10 and a beta of 0.52. Otter Tail Co. has a 12 month low of $73.43 and a 12 month high of $100.84. 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 posted its earnings results on Monday, November 4th. The utilities provider reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.97 by $0.06. Otter Tail had a return on equity of 19.84% and a net margin of 22.70%. The firm had revenue of $338.03 million for the quarter, compared to the consensus estimate of $362.20 million. During the same quarter in the prior year, the business posted $2.19 earnings per share. On average, sell-side analysts anticipate that Otter Tail Co. will post 7.01 earnings per share for the current year.

Otter Tail Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be paid a $0.468 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.87 annualized dividend and a yield of 2.34%. Otter Tail’s dividend payout ratio is currently 25.83%.

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.