Intech Investment Management LLC Takes Position in Otter Tail Co. (NASDAQ:OTTR)

Intech Investment Management LLC acquired a new position in Otter Tail Co. (NASDAQ:OTTR) during the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 8,740 shares of the utilities provider’s stock, valued at approximately $683,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in OTTR. Atticus Wealth Management LLC acquired a new position in Otter Tail in the second quarter worth approximately $33,000. Hoese & Co LLP bought a new stake in shares of Otter Tail during the 3rd quarter worth $39,000. Allworth Financial LP grew its holdings in shares of Otter Tail by 132.8% in the 3rd quarter. Allworth Financial LP now owns 547 shares of the utilities provider’s stock worth $43,000 after acquiring an additional 312 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Otter Tail by 46.3% during the second 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 holdings in shares of Otter Tail by 1,811.4% during 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.

Analyst Ratings Changes

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

Otter Tail Trading Down 0.3 %

NASDAQ OTTR opened at $80.64 on Friday. The firm’s 50 day moving average price is $79.06 and its two-hundred day moving average price is $84.77. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.66 and a current ratio of 2.17. Otter Tail Co. has a twelve month low of $73.43 and a twelve month high of $100.84. The stock has a market cap of $3.37 billion, a price-to-earnings ratio of 11.14 and a beta of 0.52.

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

Otter Tail Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be given a $0.468 dividend. 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 25.83%.

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.