Jane Street Group LLC Has $1.37 Million Stock Position in Otter Tail Co. (NASDAQ:OTTR)

Jane Street Group LLC lowered its stake in shares of Otter Tail Co. (NASDAQ:OTTR - Free Report) by 76.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,607 shares of the utilities provider's stock after selling 61,426 shares during the period. Jane Street Group LLC's holdings in Otter Tail were worth $1,374,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Caisse DE Depot ET Placement DU Quebec raised its position in Otter Tail by 168.8% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 223,005 shares of the utilities provider's stock worth $16,467,000 after acquiring an additional 140,044 shares in the last quarter. Invesco Ltd. increased its stake in shares of Otter Tail by 49.6% during the 4th quarter. Invesco Ltd. now owns 291,344 shares of the utilities provider's stock worth $21,513,000 after purchasing an additional 96,573 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Otter Tail by 93.5% during the 4th quarter. JPMorgan Chase & Co. now owns 189,345 shares of the utilities provider's stock worth $13,981,000 after purchasing an additional 91,516 shares during the last quarter. Northern Trust Corp raised 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 valued at $40,288,000 after purchasing an additional 71,601 shares during the period. Finally, Barclays PLC lifted its stake in Otter Tail by 359.8% in the 3rd quarter. Barclays PLC now owns 70,553 shares of the utilities provider's stock valued at $5,514,000 after purchasing an additional 55,210 shares during the last quarter. Institutional investors and hedge funds own 61.32% of the company's stock.

Analyst Ratings Changes

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

Otter Tail Stock Performance

OTTR traded down $0.53 during trading hours on Friday, reaching $76.13. The company's stock had a trading volume of 133,557 shares, compared to its average volume of 242,474. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.66 and a current ratio of 2.03. The company's 50-day moving average is $78.80 and its 200-day moving average is $78.59. Otter Tail Co. has a 52 week low of $71.66 and a 52 week high of $100.84. The firm has a market cap of $3.19 billion, a PE ratio of 10.62 and a beta of 0.56.

Otter Tail (NASDAQ:OTTR - Get Free Report) last issued 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 company had revenue of $337.35 million for the quarter, compared to analyst estimates of $349.70 million. Otter Tail had a net margin of 22.67% and a return on equity of 18.96%. During the same period in the prior year, the firm earned $1.77 earnings per share. The company'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 year.

Otter Tail Announces Dividend

The company also recently announced 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. The ex-dividend date is Thursday, May 15th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.76%. Otter Tail's dividend payout ratio (DPR) 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.