Whittier Trust Co. of Nevada Inc. Raises Position in Otter Tail Co. (NASDAQ:OTTR)

Whittier Trust Co. of Nevada Inc. grew its position in shares of Otter Tail Co. (NASDAQ:OTTR) by 4.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 43,869 shares of the utilities provider’s stock after acquiring an additional 1,774 shares during the period. Whittier Trust Co. of Nevada Inc. owned about 0.10% of Otter Tail worth $3,239,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in OTTR. Victory Capital Management Inc. grew its stake in Otter Tail by 100.1% in 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. KBC Group NV grew its position in shares of Otter Tail by 27.9% in the 3rd quarter. KBC Group NV now owns 1,248 shares of the utilities provider’s stock worth $98,000 after buying an additional 272 shares during the period. Segall Bryant & Hamill LLC bought a new position in shares of Otter Tail in the 3rd quarter worth about $2,947,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in Otter Tail by 158.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 20,709 shares of the utilities provider’s stock valued at $1,619,000 after acquiring an additional 12,703 shares during the period. Finally, Advisors Asset Management Inc. boosted its stake in Otter Tail by 32.4% during the third quarter. Advisors Asset Management Inc. now owns 12,301 shares of the utilities provider’s stock worth $961,000 after acquiring an additional 3,012 shares in the last quarter. Institutional investors own 61.32% of the company’s stock.

Otter Tail Price Performance

Shares of NASDAQ OTTR opened at $80.87 on Friday. The company has a 50 day simple moving average of $79.69 and a two-hundred day simple moving average of $78.56. Otter Tail Co. has a fifty-two week low of $71.66 and a fifty-two week high of $100.84. The company has a market capitalization of $3.39 billion, a price-to-earnings ratio of 11.28 and a beta of 0.53. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.66 and a current ratio of 2.03.

Otter Tail (NASDAQ:OTTR) last announced its quarterly earnings data 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. Otter Tail had a return on equity of 18.96% and a net margin of 22.67%. The business had revenue of $303.11 million during the quarter, compared to analysts’ expectations of $314.75 million. Analysts expect that Otter Tail Co. will post 5.88 EPS for the current fiscal year.

Otter Tail Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 2.60%. This is an increase from Otter Tail’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend was Friday, February 14th. Otter Tail’s dividend payout ratio is 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.