500 Shares in Otter Tail Co. (NASDAQ:OTTR) Bought by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB acquired a new stake in Otter Tail Co. (NASDAQ:OTTR) during the 3rd quarter, Holdings Channel reports. The firm acquired 500 shares of the utilities provider’s stock, valued at approximately $39,000.

Several other institutional investors have also recently made changes to their positions in OTTR. Bank of New York Mellon Corp boosted its stake in Otter Tail by 1.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 435,005 shares of the utilities provider’s stock worth $38,102,000 after purchasing an additional 4,862 shares during the period. Allspring Global Investments Holdings LLC grew its stake in Otter Tail by 4.9% during the second quarter. Allspring Global Investments Holdings LLC now owns 7,980 shares of the utilities provider’s stock valued at $699,000 after acquiring an additional 373 shares in the last quarter. Harbour Investments Inc. increased its holdings in Otter Tail by 96.6% in the 2nd quarter. Harbour Investments Inc. now owns 4,088 shares of the utilities provider’s stock valued at $358,000 after acquiring an additional 2,009 shares during the last quarter. Whittier Trust Co. lifted its stake in Otter Tail by 5.2% in the 2nd quarter. Whittier Trust Co. now owns 78,140 shares of the utilities provider’s stock worth $6,844,000 after purchasing an additional 3,841 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Otter Tail by 3.8% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 40,846 shares of the utilities provider’s stock valued at $3,578,000 after purchasing an additional 1,499 shares during the last quarter. Hedge funds and other institutional investors own 61.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on OTTR. StockNews.com upgraded Otter Tail from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Siebert Williams Shank upgraded Otter Tail from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 6th.

Otter Tail Stock Performance

Shares of NASDAQ:OTTR opened at $75.17 on Monday. The firm has a fifty day simple moving average of $79.10 and a two-hundred day simple moving average of $83.33. Otter Tail Co. has a 52 week low of $73.26 and a 52 week high of $100.84. The company has a quick ratio of 1.66, a current ratio of 2.17 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $3.14 billion, a P/E ratio of 10.38 and a beta of 0.54.

Otter Tail (NASDAQ:OTTR) last issued its quarterly earnings data on Monday, November 4th. The utilities provider reported $2.03 earnings per share for the quarter, topping the consensus estimate of $1.97 by $0.06. The company had revenue of $338.03 million for the quarter, compared to analysts’ expectations of $362.20 million. Otter Tail had a return on equity of 19.84% and a net margin of 22.70%. During the same period in the previous year, the firm posted $2.19 earnings per share. On average, analysts expect that Otter Tail Co. will post 7.13 earnings per share for the current fiscal year.

Otter Tail Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th were paid a dividend of $0.468 per share. This represents a $1.87 annualized dividend and a yield of 2.49%. The ex-dividend date of this dividend was Friday, November 15th. Otter Tail’s payout ratio is 25.83%.

About Otter Tail

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.