Buck Wealth Strategies LLC Has $4.77 Million Stock Position in Otter Tail Corporation (NASDAQ:OTTR)

Buck Wealth Strategies LLC boosted its position in Otter Tail Corporation (NASDAQ:OTTR - Free Report) by 10.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 59,390 shares of the utilities provider's stock after buying an additional 5,461 shares during the quarter. Buck Wealth Strategies LLC owned approximately 0.14% of Otter Tail worth $4,773,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the stock. Private Advisor Group LLC increased its position in shares of Otter Tail by 2.8% during the 4th quarter. Private Advisor Group LLC now owns 4,826 shares of the utilities provider's stock worth $356,000 after purchasing an additional 131 shares during the last quarter. Byrne Asset Management LLC boosted its stake in Otter Tail by 54.8% in the 1st quarter. Byrne Asset Management LLC now owns 387 shares of the utilities provider's stock valued at $31,000 after purchasing an additional 137 shares during the period. Quantinno Capital Management LP boosted its stake in Otter Tail by 5.6% in the 4th quarter. Quantinno Capital Management LP now owns 2,760 shares of the utilities provider's stock valued at $204,000 after purchasing an additional 146 shares during the period. Summit Investment Advisors Inc. boosted its stake in Otter Tail by 5.0% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,328 shares of the utilities provider's stock valued at $320,000 after purchasing an additional 207 shares during the period. Finally, Xponance Inc. boosted its stake in Otter Tail by 9.1% in the 4th quarter. Xponance Inc. now owns 2,946 shares of the utilities provider's stock valued at $218,000 after purchasing an additional 246 shares during the period. Institutional investors and hedge funds own 61.32% of the company's stock.

Otter Tail Stock Performance

OTTR traded up $1.55 during trading on Monday, hitting $78.09. The stock had a trading volume of 146,751 shares, compared to its average volume of 242,300. The company has a 50 day moving average price of $77.93 and a 200-day moving average price of $78.16. The firm has a market cap of $3.27 billion, a price-to-earnings ratio of 11.12 and a beta of 0.55. Otter Tail Corporation has a one year low of $71.66 and a one year high of $100.84. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.62 and a quick ratio of 2.03.

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, beating the consensus estimate of $1.53 by $0.09. The firm had revenue of $337.35 million during the quarter, compared to analysts' expectations of $349.70 million. Otter Tail had a return on equity of 17.95% and a net margin of 22.37%. The company's quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.77 EPS. As a group, research analysts predict that Otter Tail Corporation will post 5.88 EPS for the current year.

Otter Tail Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Thursday, May 15th were issued a $0.525 dividend. The ex-dividend date was Thursday, May 15th. This represents a $2.10 annualized dividend and a yield of 2.69%. Otter Tail's dividend payout ratio is presently 29.91%.

Wall Street Analysts Forecast Growth

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

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.