Jane Street Group LLC Reduces Stock Position in Otter Tail Co. (NASDAQ:OTTR)

Jane Street Group LLC decreased its position in Otter Tail Co. (NASDAQ:OTTR) by 5.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 80,033 shares of the utilities provider’s stock after selling 4,625 shares during the quarter. Jane Street Group LLC owned approximately 0.19% of Otter Tail worth $6,255,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of OTTR. Hoese & Co LLP bought a new stake in shares of Otter Tail in the third quarter worth about $39,000. Allworth Financial LP grew its position 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 buying an additional 312 shares during the last quarter. Quarry LP increased its stake 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 buying an additional 634 shares during the period. KBC Group NV raised its holdings in shares of Otter Tail by 27.9% during the third quarter. KBC Group NV now owns 1,248 shares of the utilities provider’s stock valued at $98,000 after acquiring an additional 272 shares in the last quarter. Finally, Abound Wealth Management lifted its stake in Otter Tail by 28,725.0% in the second quarter. Abound Wealth Management now owns 1,153 shares of the utilities provider’s stock worth $101,000 after acquiring an additional 1,149 shares during the period. Hedge funds and other institutional investors own 61.32% of the company’s stock.

Otter Tail Trading Down 0.9 %

OTTR opened at $75.88 on Monday. The stock has a market cap of $3.17 billion, a PE ratio of 10.48 and a beta of 0.54. The business has a 50 day moving average of $79.15 and a 200-day moving average of $83.85. Otter Tail Co. has a 52 week low of $73.43 and a 52 week high of $100.84. The company has a quick ratio of 1.66, a current ratio of 2.17 and a debt-to-equity ratio of 0.58.

Otter Tail (NASDAQ:OTTR) last announced its earnings results on Monday, November 4th. The utilities provider reported $2.03 EPS for the quarter, beating analysts’ consensus estimates of $1.97 by $0.06. The firm had revenue of $338.03 million for the quarter, compared to analysts’ expectations of $362.20 million. Otter Tail had a net margin of 22.70% and a return on equity of 19.84%. During the same quarter in the previous year, the business posted $2.19 EPS. Equities research analysts predict that Otter Tail Co. will post 7.13 earnings per share for the current fiscal year.

Otter Tail Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th were paid a dividend of $0.468 per share. This represents a $1.87 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend was Friday, November 15th. Otter Tail’s dividend payout ratio is 25.83%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. StockNews.com raised shares of Otter Tail from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Siebert Williams Shank upgraded shares of Otter Tail from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 6th.

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.