4,588 Shares in Otter Tail Co. (NASDAQ:OTTR) Bought by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC purchased a new position in shares of Otter Tail Co. (NASDAQ:OTTR - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 4,588 shares of the utilities provider's stock, valued at approximately $369,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wells Fargo & Company MN lifted its holdings in shares of Otter Tail by 13.8% during the 4th quarter. Wells Fargo & Company MN now owns 52,149 shares of the utilities provider's stock worth $3,851,000 after acquiring an additional 6,331 shares during the period. Barclays PLC increased its position in Otter Tail by 359.8% during the 3rd quarter. Barclays PLC now owns 70,553 shares of the utilities provider's stock worth $5,514,000 after purchasing an additional 55,210 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Otter Tail by 5.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 536,545 shares of the utilities provider's stock valued at $39,618,000 after acquiring an additional 27,415 shares during the last quarter. LPL Financial LLC lifted its stake in shares of Otter Tail by 3.2% in the 4th quarter. LPL Financial LLC now owns 59,865 shares of the utilities provider's stock valued at $4,420,000 after acquiring an additional 1,837 shares during the last quarter. Finally, Private Advisor Group LLC lifted its stake in shares of Otter Tail by 2.8% in the 4th quarter. Private Advisor Group LLC now owns 4,826 shares of the utilities provider's stock valued at $356,000 after acquiring an additional 131 shares during the last quarter. Institutional investors own 61.32% of the company's stock.

Analyst Ratings Changes

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

Otter Tail Trading Down 0.3%

Shares of OTTR stock traded down $0.24 during trading hours on Thursday, hitting $76.40. 132,815 shares of the company's stock traded hands, compared to its average volume of 241,298. The stock's 50 day simple moving average is $78.21 and its 200 day simple moving average is $78.45. The stock has a market cap of $3.20 billion, a PE ratio of 10.66 and a beta of 0.56. Otter Tail Co. has a 12 month low of $71.66 and a 12 month high of $100.84. The company has a quick ratio of 1.66, a current ratio of 2.03 and a debt-to-equity ratio of 0.57.

Otter Tail (NASDAQ:OTTR - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The utilities provider reported $1.62 earnings per share (EPS) 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 the consensus estimate of $349.70 million. Otter Tail had a net margin of 22.67% and a return on equity of 18.96%. The company's revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.77 earnings per share. On average, sell-side analysts anticipate that Otter Tail Co. will post 5.88 EPS for the current year.

Otter Tail Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Thursday, May 15th will be paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend is Thursday, May 15th. Otter Tail's payout ratio is currently 29.91%.

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.