GAMMA Investing LLC Buys 31,986 Shares of Otter Tail Co. (NASDAQ:OTTR)

GAMMA Investing LLC increased its position in Otter Tail Co. (NASDAQ:OTTR - Free Report) by 9,902.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,309 shares of the utilities provider's stock after buying an additional 31,986 shares during the quarter. GAMMA Investing LLC owned 0.08% of Otter Tail worth $2,597,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in OTTR. Private Advisor Group LLC boosted its stake 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 valued at $356,000 after purchasing an additional 131 shares in the last quarter. Quantinno Capital Management LP boosted its position in Otter Tail by 5.6% during the 4th quarter. Quantinno Capital Management LP now owns 2,760 shares of the utilities provider's stock valued at $204,000 after acquiring an additional 146 shares in the last quarter. Summit Investment Advisors Inc. grew its holdings in shares of Otter Tail by 5.0% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,328 shares of the utilities provider's stock worth $320,000 after acquiring an additional 207 shares during the period. Xponance Inc. raised its position in shares of Otter Tail by 9.1% in the 4th quarter. Xponance Inc. now owns 2,946 shares of the utilities provider's stock worth $218,000 after acquiring an additional 246 shares in the last quarter. Finally, D.A. Davidson & CO. raised its position in shares of Otter Tail by 3.8% in the 4th quarter. D.A. Davidson & CO. now owns 6,958 shares of the utilities provider's stock worth $514,000 after acquiring an additional 253 shares in the last quarter. 61.32% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Siebert Williams Shank raised shares of Otter Tail from a "hold" rating to a "buy" rating and boosted their price objective 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 $1.74 during mid-day trading on Friday, reaching $77.59. The company's stock had a trading volume of 161,576 shares, compared to its average volume of 240,928. The company has a current ratio of 2.03, a quick ratio of 1.66 and a debt-to-equity ratio of 0.57. The stock has a market cap of $3.25 billion, a P/E ratio of 10.82 and a beta of 0.55. The firm's fifty day moving average price is $78.02 and its two-hundred day moving average price is $78.35. Otter Tail Co. has a 12-month low of $71.66 and a 12-month high of $100.84.

Otter Tail (NASDAQ:OTTR - Get Free Report) last posted its 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. Otter Tail had a return on equity of 18.96% and a net margin of 22.67%. The company had revenue of $337.35 million for the quarter, compared to the consensus estimate of $349.70 million. During the same quarter in the prior year, the company earned $1.77 earnings per share. Otter Tail's revenue was down 2.8% on a year-over-year basis. On average, equities analysts forecast that Otter Tail Co. will post 5.88 EPS for the current fiscal year.

Otter Tail Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Thursday, May 15th were paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date of this dividend was Thursday, May 15th. Otter Tail's dividend payout ratio (DPR) is 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.