Denali Advisors LLC Makes New $510,000 Investment in Otter Tail Co. (NASDAQ:OTTR)

Denali Advisors LLC purchased a new position in shares of Otter Tail Co. (NASDAQ:OTTR) during the 4th quarter, Holdings Channel.com reports. The fund purchased 6,911 shares of the utilities provider’s stock, valued at approximately $510,000.

A number of other hedge funds have also recently made changes to their positions in the business. State Street Corp boosted its position in Otter Tail by 1.1% during the third quarter. State Street Corp now owns 1,598,531 shares of the utilities provider’s stock valued at $124,941,000 after buying an additional 18,109 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Otter Tail by 0.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 509,130 shares of the utilities provider’s stock worth $39,794,000 after buying an additional 3,425 shares during the period. Bank of New York Mellon Corp boosted its holdings in Otter Tail by 2.3% in the fourth quarter. Bank of New York Mellon Corp now owns 405,146 shares of the utilities provider’s stock valued at $29,916,000 after acquiring an additional 8,993 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Otter Tail by 4.2% during the 4th quarter. Principal Financial Group Inc. now owns 225,987 shares of the utilities provider’s stock valued at $16,687,000 after purchasing an additional 9,088 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in Otter Tail by 2.8% during the 4th quarter. Rhumbline Advisers now owns 108,714 shares of the utilities provider’s stock valued at $8,027,000 after acquiring an additional 2,996 shares in the last quarter. 61.32% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on OTTR shares. Siebert Williams Shank raised shares of Otter Tail from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 6th. StockNews.com raised shares of Otter Tail from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th.

Otter Tail Trading Down 1.0 %

Otter Tail stock opened at $80.64 on Thursday. Otter Tail Co. has a 12 month low of $71.66 and a 12 month high of $100.84. The company has a market capitalization of $3.37 billion, a price-to-earnings ratio of 11.25 and a beta of 0.57. The business’s fifty day simple moving average is $77.13 and its two-hundred day simple moving average is $79.21. The company has a current ratio of 2.03, a quick ratio of 1.66 and a debt-to-equity ratio of 0.57.

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, topping analysts’ consensus estimates of $1.26 by $0.04. The company had revenue of $303.11 million for 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%. As a group, equities analysts predict that Otter Tail Co. will post 5.88 earnings per share for the current fiscal year.

Otter Tail Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid 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 is Friday, February 14th. Otter Tail’s dividend payout ratio (DPR) is currently 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.