Quantbot Technologies LP Raises Stock Holdings in Otter Tail Co. (NASDAQ:OTTR)

Quantbot Technologies LP raised its stake in shares of Otter Tail Co. (NASDAQ:OTTR) by 25.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 21,696 shares of the utilities provider’s stock after acquiring an additional 4,464 shares during the period. Quantbot Technologies LP’s holdings in Otter Tail were worth $1,602,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB purchased a new position in shares of Otter Tail during the third quarter valued at approximately $39,000. Asset Planning Inc bought a new stake in Otter Tail in the 4th quarter worth approximately $37,000. Crews Bank & Trust purchased a new stake in Otter Tail during the 4th quarter valued at $81,000. Nisa Investment Advisors LLC lifted its holdings in shares of Otter Tail by 28.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,502 shares of the utilities provider’s stock valued at $111,000 after buying an additional 333 shares during the period. Finally, KBC Group NV boosted its stake in shares of Otter Tail by 28.7% in the 4th quarter. KBC Group NV now owns 1,606 shares of the utilities provider’s stock worth $119,000 after buying an additional 358 shares during the last quarter. Hedge funds and other institutional investors own 61.32% of the company’s stock.

Otter Tail Stock Performance

Shares of OTTR opened at $80.82 on Tuesday. Otter Tail Co. has a one year low of $71.66 and a one year high of $100.84. The business has a fifty day moving average of $79.79 and a 200 day moving average of $78.54. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.03 and a quick ratio of 1.66. The firm has a market capitalization of $3.38 billion, a P/E ratio of 11.27 and a beta of 0.53.

Otter Tail (NASDAQ:OTTR) last issued its quarterly earnings data on Monday, February 17th. The utilities provider reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.04. The firm 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, sell-side analysts anticipate that Otter Tail Co. will post 5.88 EPS for the current year.

Otter Tail Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 2.60%. The ex-dividend date was Friday, February 14th. This is a boost from Otter Tail’s previous quarterly dividend of $0.47. Otter Tail’s dividend payout ratio (DPR) is currently 29.29%.

Otter Tail 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.