Otter Tail Co. (NASDAQ:OTTR) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its holdings in shares of Otter Tail Co. (NASDAQ:OTTR) by 100.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 71,518 shares of the utilities provider’s stock after purchasing an additional 35,783 shares during the quarter. Victory Capital Management Inc. owned about 0.17% of Otter Tail worth $5,590,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Atticus Wealth Management LLC purchased a new stake in shares of Otter Tail during the second quarter worth approximately $33,000. Hoese & Co LLP purchased a new position in Otter Tail in the third quarter valued at approximately $39,000. Allworth Financial LP boosted 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 acquiring an additional 312 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Otter Tail by 46.3% in the second quarter. GAMMA Investing LLC now owns 657 shares of the utilities provider’s stock valued at $58,000 after acquiring an additional 208 shares during the period. Finally, Quarry LP boosted its holdings in shares of Otter Tail by 1,811.4% in the second quarter. Quarry LP now owns 669 shares of the utilities provider’s stock valued at $59,000 after acquiring an additional 634 shares during the period. Institutional investors and hedge funds own 61.32% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on OTTR. 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 Price Performance

Shares of NASDAQ OTTR opened at $80.78 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.17 and a quick ratio of 1.66. The stock has a fifty day moving average price of $78.88 and a 200 day moving average price of $85.27. Otter Tail Co. has a 1-year low of $73.43 and a 1-year high of $100.84. The company has a market cap of $3.38 billion, a PE ratio of 11.13 and a beta of 0.52.

Otter Tail (NASDAQ:OTTR) last released 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. Otter Tail had a return on equity of 19.84% and a net margin of 22.70%. The company had revenue of $338.03 million during the quarter, compared to the consensus estimate of $362.20 million. During the same quarter last year, the company earned $2.19 earnings per share. Sell-side analysts forecast that Otter Tail Co. will post 7.01 EPS for the current year.

Otter Tail Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be given a $0.468 dividend. This represents a $1.87 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date is Friday, November 15th. Otter Tail’s dividend payout ratio is currently 25.83%.

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.