Raymond James Financial Inc. Buys Shares of 36,182 Otter Tail Co. (NASDAQ:OTTR)

Raymond James Financial Inc. purchased a new position in shares of Otter Tail Co. (NASDAQ:OTTR) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 36,182 shares of the utilities provider’s stock, valued at approximately $2,672,000. Raymond James Financial Inc. owned 0.09% of Otter Tail as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new position in Otter Tail in the third quarter worth approximately $39,000. Asset Planning Inc purchased a new position in shares of Otter Tail during the 4th quarter worth $37,000. Crews Bank & Trust acquired a new stake in shares of Otter Tail during the 4th quarter worth about $81,000. Nisa Investment Advisors LLC raised its holdings in Otter Tail by 28.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,502 shares of the utilities provider’s stock valued at $111,000 after buying an additional 333 shares during the period. Finally, KBC Group NV lifted its position in Otter Tail by 28.7% in the fourth quarter. KBC Group NV now owns 1,606 shares of the utilities provider’s stock valued at $119,000 after buying an additional 358 shares during the last quarter. Institutional investors and hedge funds own 61.32% of the company’s stock.

Otter Tail Trading Up 0.2 %

Shares of OTTR stock opened at $80.73 on Friday. Otter Tail Co. has a 1-year low of $71.66 and a 1-year high of $100.84. The firm has a market cap of $3.38 billion, a PE ratio of 11.26 and a beta of 0.53. The company has a 50-day moving average of $79.97 and a two-hundred day moving average of $78.62. 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 (NASDAQ:OTTR) last posted its quarterly earnings data on Monday, February 17th. The utilities provider reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.04. The firm had revenue of $303.11 million during the quarter, compared to analysts’ expectations of $314.75 million. Otter Tail had a net margin of 22.67% and a return on equity of 18.96%. On average, analysts predict that Otter Tail Co. will post 5.88 EPS for the current year.

Otter Tail Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were paid a $0.525 dividend. The ex-dividend date was Friday, February 14th. This is a boost 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 2.60%. Otter Tail’s 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.