Victory Capital Management Inc. Increases Stock Holdings in Otter Tail Co. (NASDAQ:OTTR)

Victory Capital Management Inc. grew its position in Otter Tail Co. (NASDAQ:OTTR) by 100.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,518 shares of the utilities provider’s stock after buying an additional 35,783 shares during the quarter. Victory Capital Management Inc.’s holdings in Otter Tail were worth $5,590,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Creative Planning increased its position in Otter Tail by 2.2% during the 2nd quarter. Creative Planning now owns 6,281 shares of the utilities provider’s stock worth $550,000 after purchasing an additional 137 shares in the last quarter. Foster & Motley Inc. increased its position in Otter Tail by 1.5% during the 2nd quarter. Foster & Motley Inc. now owns 9,855 shares of the utilities provider’s stock worth $863,000 after purchasing an additional 149 shares in the last quarter. GAMMA Investing LLC increased its position in Otter Tail by 46.3% during 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 in the last quarter. Arizona State Retirement System increased its position in Otter Tail by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 10,525 shares of the utilities provider’s stock worth $922,000 after purchasing an additional 208 shares in the last quarter. Finally, Los Angeles Capital Management LLC increased its position in Otter Tail by 1.3% during the 2nd quarter. Los Angeles Capital Management LLC now owns 21,091 shares of the utilities provider’s stock worth $1,847,000 after purchasing an additional 265 shares in the last quarter. Hedge funds and other institutional investors own 61.32% of the company’s stock.

Otter Tail Trading Up 0.2 %

NASDAQ OTTR opened at $80.78 on Friday. Otter Tail Co. has a 12 month low of $73.43 and a 12 month high of $100.84. The company has a 50-day moving average of $78.88 and a 200-day moving average of $85.27. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.17 and a quick ratio of 1.66. The company has a market cap of $3.38 billion, a P/E ratio of 11.13 and a beta of 0.52.

Otter Tail (NASDAQ:OTTR) last posted its quarterly earnings data on Monday, November 4th. The utilities provider reported $2.03 EPS for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the company posted $2.19 EPS. As a group, equities analysts predict 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. Stockholders of record on Friday, November 15th will be issued 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 payout ratio is currently 25.83%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on OTTR shares. Siebert Williams Shank raised shares of Otter Tail from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 6th. StockNews.com raised shares of Otter Tail from a “sell” rating to a “hold” rating in a research note 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.