8,550 Shares in Otter Tail Co. (NASDAQ:OTTR) Purchased by Entropy Technologies LP

Entropy Technologies LP bought a new position in Otter Tail Co. (NASDAQ:OTTR) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 8,550 shares of the utilities provider’s stock, valued at approximately $668,000.

A number of other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Otter Tail by 3.9% in the first quarter. Vanguard Group Inc. now owns 5,238,510 shares of the utilities provider’s stock worth $452,607,000 after buying an additional 197,617 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Otter Tail by 0.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,035,541 shares of the utilities provider’s stock valued at $90,703,000 after purchasing an additional 3,974 shares during the period. Bank of New York Mellon Corp raised its position in Otter Tail by 1.1% during the second quarter. Bank of New York Mellon Corp now owns 435,005 shares of the utilities provider’s stock valued at $38,102,000 after purchasing an additional 4,862 shares during the period. Federated Hermes Inc. raised its position in Otter Tail by 3.6% during the second quarter. Federated Hermes Inc. now owns 143,074 shares of the utilities provider’s stock valued at $12,532,000 after purchasing an additional 4,997 shares during the period. Finally, Bank & Trust Co purchased a new stake in Otter Tail during the second quarter valued at approximately $11,129,000. 61.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on OTTR. 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 Otter Tail from a “sell” rating to a “hold” rating in a research report on Thursday.

Otter Tail Trading Down 0.8 %

Shares of OTTR stock opened at $79.64 on Friday. The company has a market cap of $3.33 billion, a PE ratio of 11.00 and a beta of 0.52. The stock’s 50 day simple moving average is $78.52 and its two-hundred day simple moving average is $85.54. Otter Tail Co. has a 1 year low of $73.43 and a 1 year high of $100.84. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.17 and a quick ratio of 1.66.

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. The firm 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 quarter in the prior year, the firm posted $2.19 earnings per share. Research analysts predict that Otter Tail Co. will post 7.01 earnings per share for the current year.

Otter Tail Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.468 per share. The ex-dividend date is Friday, November 15th. This represents a $1.87 dividend on an annualized basis and a dividend yield of 2.35%. Otter Tail’s dividend 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.