Otter Tail Corporation $OTTR Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Otter Tail Corporation (NASDAQ:OTTR - Free Report) by 87.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 43,470 shares of the utilities provider's stock after purchasing an additional 20,315 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.10% of Otter Tail worth $3,494,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in OTTR. Wells Fargo & Company MN boosted its holdings in shares of Otter Tail by 13.8% in the 4th quarter. Wells Fargo & Company MN now owns 52,149 shares of the utilities provider's stock valued at $3,851,000 after acquiring an additional 6,331 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Otter Tail by 10.1% in the 4th quarter. Russell Investments Group Ltd. now owns 17,785 shares of the utilities provider's stock valued at $1,313,000 after acquiring an additional 1,635 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Otter Tail by 49.6% in the 4th quarter. Invesco Ltd. now owns 291,344 shares of the utilities provider's stock valued at $21,513,000 after acquiring an additional 96,573 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Otter Tail in the 4th quarter valued at $2,672,000. Finally, Sterling Capital Management LLC boosted its holdings in shares of Otter Tail by 7.1% in the 4th quarter. Sterling Capital Management LLC now owns 9,629 shares of the utilities provider's stock valued at $711,000 after acquiring an additional 642 shares during the last quarter. 61.32% of the stock is owned by hedge funds and other institutional investors.

Otter Tail Stock Performance

Shares of OTTR traded up $0.32 during trading hours on Monday, hitting $82.59. The stock had a trading volume of 38,503 shares, compared to its average volume of 236,174. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.57 and a current ratio of 3.31. The firm has a 50-day moving average price of $78.51 and a 200 day moving average price of $78.88. Otter Tail Corporation has a fifty-two week low of $71.66 and a fifty-two week high of $92.51. The firm has a market capitalization of $3.46 billion, a price-to-earnings ratio of 12.15 and a beta of 0.56.

Otter Tail (NASDAQ:OTTR - Get Free Report) last posted its earnings results on Monday, August 4th. The utilities provider reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.11. Otter Tail had a net margin of 21.82% and a return on equity of 16.85%. The firm had revenue of $333.04 million during the quarter, compared to analysts' expectations of $329.60 million. During the same period in the previous year, the business posted $2.07 EPS. The business's revenue was down 2.7% compared to the same quarter last year. As a group, research analysts anticipate that Otter Tail Corporation will post 5.88 EPS for the current year.

Otter Tail Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be paid a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Friday, August 15th. Otter Tail's payout ratio is currently 30.88%.

Analyst Ratings Changes

Separately, Siebert Williams Shank raised shares of Otter Tail from a "hold" rating to a "buy" rating and upped their price objective for the company from $82.00 to $83.00 in a report on Wednesday, May 7th.

Otter Tail Company 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.