Buck Wealth Strategies LLC Buys 5,461 Shares of Otter Tail Corporation (NASDAQ:OTTR)

Buck Wealth Strategies LLC grew its position in shares of Otter Tail Corporation (NASDAQ:OTTR - Free Report) by 10.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 59,390 shares of the utilities provider's stock after acquiring an additional 5,461 shares during the quarter. Buck Wealth Strategies LLC owned 0.14% of Otter Tail worth $4,773,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rhumbline Advisers increased its position in shares of 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 purchasing an additional 2,996 shares during the last quarter. State of New Jersey Common Pension Fund D grew its position in Otter Tail by 21.8% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 26,243 shares of the utilities provider's stock valued at $1,938,000 after buying an additional 4,695 shares during the period. Principal Financial Group Inc. increased its holdings in Otter Tail by 4.2% during the fourth quarter. Principal Financial Group Inc. now owns 225,987 shares of the utilities provider's stock worth $16,687,000 after buying an additional 9,088 shares during the last quarter. CIBC Asset Management Inc bought a new stake in Otter Tail in the fourth quarter worth about $213,000. Finally, D.A. Davidson & CO. boosted its stake in Otter Tail by 3.8% in the fourth quarter. D.A. Davidson & CO. now owns 6,958 shares of the utilities provider's stock valued at $514,000 after acquiring an additional 253 shares during the last quarter. Hedge funds and other institutional investors own 61.32% of the company's stock.

Wall Street Analyst Weigh In

Separately, Siebert Williams Shank upgraded shares of Otter Tail from a "hold" rating to a "buy" rating and raised their price target for the stock from $82.00 to $83.00 in a research note on Wednesday, May 7th.

Otter Tail Stock Performance

NASDAQ:OTTR traded down $0.20 during trading hours on Wednesday, reaching $77.93. The stock had a trading volume of 220,105 shares, compared to its average volume of 241,613. The stock has a market cap of $3.27 billion, a P/E ratio of 11.10 and a beta of 0.55. The stock has a 50 day simple moving average of $77.88 and a 200 day simple moving average of $78.16. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.03 and a current ratio of 2.62. Otter Tail Corporation has a 12-month low of $71.66 and a 12-month high of $100.84.

Otter Tail (NASDAQ:OTTR - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The utilities provider reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.09. The company had revenue of $337.35 million during the quarter, compared to analyst estimates of $349.70 million. Otter Tail had a return on equity of 17.95% and a net margin of 22.37%. The firm's revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.77 EPS. On average, research analysts forecast that Otter Tail Corporation will post 5.88 EPS for the current fiscal year.

Otter Tail Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Thursday, May 15th were paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend was Thursday, May 15th. Otter Tail's payout ratio is currently 29.91%.

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.