Otter Tail Co. (NASDAQ:OTTR) Position Raised by Quantbot Technologies LP

Quantbot Technologies LP boosted its position in Otter Tail Co. (NASDAQ:OTTR) by 191.8% in the third quarter, HoldingsChannel.com reports. The firm owned 17,232 shares of the utilities provider’s stock after purchasing an additional 11,327 shares during the quarter. Quantbot Technologies LP’s holdings in Otter Tail were worth $1,347,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Bank & Trust Co acquired a new stake in Otter Tail during the second quarter valued at approximately $11,129,000. International Assets Investment Management LLC lifted its position in shares of Otter Tail by 3,339.9% during the 3rd quarter. International Assets Investment Management LLC now owns 76,434 shares of the utilities provider’s stock valued at $5,974,000 after acquiring an additional 74,212 shares during the last quarter. Edgestream Partners L.P. boosted its stake in shares of Otter Tail by 2,055.2% during the 2nd quarter. Edgestream Partners L.P. now owns 67,695 shares of the utilities provider’s stock worth $5,929,000 after acquiring an additional 64,554 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new position in shares of Otter Tail in the 3rd quarter worth $2,947,000. Finally, Victory Capital Management Inc. raised its position in shares of Otter Tail by 100.1% during the third quarter. Victory Capital Management Inc. now owns 71,518 shares of the utilities provider’s stock worth $5,590,000 after purchasing an additional 35,783 shares during the period. 61.32% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

OTTR has been the subject of a number of recent analyst reports. Siebert Williams Shank upgraded Otter Tail from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 6th. StockNews.com upgraded shares of 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 $80.64 on Friday. The company has a market cap of $3.37 billion, a P/E ratio of 11.14 and a beta of 0.52. The company’s fifty day moving average is $79.06 and its two-hundred day moving average is $84.77. 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 $73.43 and a 12-month high of $100.84.

Otter Tail (NASDAQ:OTTR) last announced its quarterly earnings data on Monday, November 4th. The utilities provider reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.97 by $0.06. Otter Tail had a return on equity of 19.84% and a net margin of 22.70%. The firm had revenue of $338.03 million during the quarter, compared to the consensus estimate of $362.20 million. During the same period in the prior year, the business earned $2.19 EPS. Equities analysts expect that Otter Tail Co. will post 7.01 earnings per share for the current fiscal year.

Otter Tail Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be given a dividend of $0.468 per share. This represents a $1.87 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend is Friday, November 15th. Otter Tail’s payout ratio is presently 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.