D.A. Davidson & CO. Purchases 253 Shares of Otter Tail Co. (NASDAQ:OTTR)

D.A. Davidson & CO. lifted its position in shares of Otter Tail Co. (NASDAQ:OTTR) by 3.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,958 shares of the utilities provider’s stock after purchasing an additional 253 shares during the quarter. D.A. Davidson & CO.’s holdings in Otter Tail were worth $514,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in OTTR. Creative Planning boosted its position in shares of Otter Tail by 14.9% during the third quarter. Creative Planning now owns 7,218 shares of the utilities provider’s stock valued at $564,000 after purchasing an additional 937 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Otter Tail by 3,339.9% in the third quarter. International Assets Investment Management LLC now owns 76,434 shares of the utilities provider’s stock worth $5,974,000 after acquiring an additional 74,212 shares in the last quarter. Allworth Financial LP boosted its holdings in Otter Tail by 132.8% in the third quarter. Allworth Financial LP now owns 547 shares of the utilities provider’s stock worth $43,000 after acquiring an additional 312 shares in the last quarter. James Investment Research Inc. boosted its holdings in Otter Tail by 6.1% in the third quarter. James Investment Research Inc. now owns 8,302 shares of the utilities provider’s stock worth $649,000 after acquiring an additional 475 shares in the last quarter. Finally, Covestor Ltd boosted its holdings in Otter Tail by 39.1% in the third quarter. Covestor Ltd now owns 1,563 shares of the utilities provider’s stock worth $122,000 after acquiring an additional 439 shares in the last quarter. 61.32% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Siebert Williams Shank raised Otter Tail from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 6th. StockNews.com raised Otter Tail from a “sell” rating to a “hold” rating in a report on Thursday, November 14th.

Otter Tail Trading Down 0.1 %

Shares of NASDAQ:OTTR opened at $81.45 on Wednesday. The company has a market cap of $3.41 billion, a P/E ratio of 11.36 and a beta of 0.57. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.03 and a quick ratio of 1.66. Otter Tail Co. has a 1 year low of $71.66 and a 1 year high of $100.84. The stock’s fifty day moving average price is $77.03 and its 200-day moving average price is $79.27.

Otter Tail (NASDAQ:OTTR) last announced its quarterly earnings results on Monday, February 17th. The utilities provider reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.04. The firm had revenue of $303.11 million for the quarter, compared to the consensus estimate of $314.75 million. Otter Tail had a return on equity of 18.96% and a net margin of 22.67%. Sell-side analysts expect that Otter Tail Co. will post 5.88 earnings per share for the current year.

Otter Tail Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.525 per share. This is an increase from Otter Tail’s previous quarterly dividend of $0.47. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date is Friday, February 14th. Otter Tail’s dividend payout ratio is presently 29.29%.

Otter Tail Company 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.