Fifth Third Wealth Advisors LLC Purchases Shares of 4,588 Otter Tail Co. (NASDAQ:OTTR)

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

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Otter Tail by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 5,275,068 shares of the utilities provider's stock valued at $389,511,000 after buying an additional 43,186 shares during the period. Northern Trust Corp grew its holdings in shares of Otter Tail by 15.1% in the 4th quarter. Northern Trust Corp now owns 545,618 shares of the utilities provider's stock worth $40,288,000 after purchasing an additional 71,601 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings 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 worth $39,618,000 after purchasing an additional 27,415 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Otter Tail by 13.5% in the 4th quarter. Millennium Management LLC now owns 411,281 shares of the utilities provider's stock worth $30,369,000 after purchasing an additional 48,888 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Otter Tail by 2.3% during the 4th quarter. Bank of New York Mellon Corp now owns 405,146 shares of the utilities provider's stock worth $29,916,000 after acquiring an additional 8,993 shares during the last quarter. Institutional investors own 61.32% of the company's stock.

Otter Tail Trading Up 1.0%

Shares of NASDAQ:OTTR traded up $0.75 during mid-day trading on Friday, reaching $77.15. The stock had a trading volume of 120,718 shares, compared to its average volume of 241,340. The firm has a market cap of $3.23 billion, a PE ratio of 10.76 and a beta of 0.55. The firm has a 50 day simple moving average of $77.97 and a two-hundred day simple moving average of $78.39. The company has a current ratio of 2.03, a quick ratio of 1.66 and a debt-to-equity ratio of 0.57. Otter Tail Co. has a twelve month low of $71.66 and a twelve month high of $100.84.

Otter Tail (NASDAQ:OTTR - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The utilities provider reported $1.62 earnings per share for the quarter, beating analysts' consensus estimates of $1.53 by $0.09. The business had revenue of $337.35 million for 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%. Otter Tail's revenue for the quarter was down 2.8% on a year-over-year basis. During the same period last year, the company posted $1.77 EPS. On average, research analysts predict that Otter Tail Co. will post 5.88 EPS for the current fiscal year.

Otter Tail Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Thursday, May 15th will be issued a dividend of $0.525 per share. The ex-dividend date is Thursday, May 15th. This represents a $2.10 annualized dividend and a yield of 2.72%. Otter Tail's dividend payout ratio (DPR) is currently 29.91%.

Analyst Ratings Changes

Separately, Siebert Williams Shank raised shares of Otter Tail from a "hold" rating to a "buy" rating and raised their target price 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.