KBC Group NV Grows Stock Position in Otter Tail Co. (NASDAQ:OTTR)

KBC Group NV lifted its holdings in shares of Otter Tail Co. (NASDAQ:OTTR) by 28.7% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 1,606 shares of the utilities provider’s stock after acquiring an additional 358 shares during the period. KBC Group NV’s holdings in Otter Tail were worth $119,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Hoese & Co LLP purchased a new position in Otter Tail in the 3rd quarter worth $39,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Otter Tail in the third quarter valued at about $39,000. Allworth Financial LP increased its holdings in shares of Otter Tail by 132.8% in the third quarter. Allworth Financial LP now owns 547 shares of the utilities provider’s stock valued at $43,000 after purchasing an additional 312 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of Otter Tail by 28.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,502 shares of the utilities provider’s stock worth $111,000 after purchasing an additional 333 shares during the last quarter. Finally, Covestor Ltd lifted its holdings in shares of Otter Tail by 39.1% during the third quarter. Covestor Ltd now owns 1,563 shares of the utilities provider’s stock worth $122,000 after purchasing an additional 439 shares during the period. Institutional investors and hedge funds own 61.32% of the company’s stock.

Otter Tail Stock Down 1.7 %

OTTR stock opened at $77.68 on Friday. The firm’s fifty day moving average is $76.69 and its 200 day moving average is $80.70. The firm has a market cap of $3.25 billion, a PE ratio of 10.73 and a beta of 0.57. Otter Tail Co. has a one year low of $71.66 and a one year high of $100.84. 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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a $0.525 dividend. This is a positive change from Otter Tail’s previous quarterly dividend of $0.47. This represents a $2.10 annualized dividend and a yield of 2.70%. The ex-dividend date is Friday, February 14th. Otter Tail’s dividend payout ratio (DPR) is presently 25.83%.

Wall Street Analyst Weigh In

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