State of Alaska Department of Revenue Has $1.75 Million Stake in Otter Tail Co. (NASDAQ:OTTR)

State of Alaska Department of Revenue lowered its stake in shares of Otter Tail Co. (NASDAQ:OTTR) by 0.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,728 shares of the utilities provider’s stock after selling 142 shares during the quarter. State of Alaska Department of Revenue owned about 0.06% of Otter Tail worth $1,752,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Crews Bank & Trust bought a new stake in shares of Otter Tail during the 4th quarter valued at $81,000. KBC Group NV lifted its position in Otter Tail by 28.7% during the fourth quarter. KBC Group NV now owns 1,606 shares of the utilities provider’s stock worth $119,000 after purchasing an additional 358 shares during the period. Blue Trust Inc. grew its stake in Otter Tail by 34.3% during the fourth quarter. Blue Trust Inc. now owns 1,947 shares of the utilities provider’s stock worth $152,000 after buying an additional 497 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in Otter Tail by 10.9% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 8,178 shares of the utilities provider’s stock valued at $604,000 after buying an additional 806 shares during the period. Finally, Linden Thomas Advisory Services LLC raised its position in shares of Otter Tail by 22.1% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 7,541 shares of the utilities provider’s stock valued at $557,000 after buying an additional 1,367 shares in the last quarter. Institutional investors own 61.32% of the company’s stock.

Otter Tail Stock Performance

Otter Tail stock opened at $79.92 on Wednesday. The stock has a market cap of $3.34 billion, a PE ratio of 11.04 and a beta of 0.57. 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 Co. has a 12-month low of $71.66 and a 12-month high of $100.84. The business’s 50-day moving average price is $76.60 and its two-hundred day moving average price is $80.25.

Otter Tail Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 2.63%. This is a boost from Otter Tail’s previous quarterly dividend of $0.47. The ex-dividend date is Friday, February 14th. Otter Tail’s dividend payout ratio is currently 25.83%.

Analyst Upgrades and Downgrades

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

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.