Two Sigma Investments LP Has $659,000 Stake in Otter Tail Co. (NASDAQ:OTTR)

Two Sigma Investments LP decreased its position in Otter Tail Co. (NASDAQ:OTTR - Free Report) by 81.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,924 shares of the utilities provider's stock after selling 39,400 shares during the period. Two Sigma Investments LP's holdings in Otter Tail were worth $659,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in Otter Tail by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 5,275,068 shares of the utilities provider's stock valued at $389,511,000 after purchasing an additional 43,186 shares in the last quarter. Northern Trust Corp increased its stake in Otter Tail by 15.1% in the fourth 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 in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Otter Tail by 5.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 536,545 shares of the utilities provider's stock valued at $39,618,000 after purchasing an additional 27,415 shares in the last quarter. Millennium Management LLC increased its stake in Otter Tail by 13.5% in the fourth quarter. Millennium Management LLC now owns 411,281 shares of the utilities provider's stock valued at $30,369,000 after purchasing an additional 48,888 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Otter Tail by 2.3% in the fourth quarter. Bank of New York Mellon Corp now owns 405,146 shares of the utilities provider's stock valued at $29,916,000 after purchasing an additional 8,993 shares in the last quarter. Institutional investors and hedge funds own 61.32% of the company's stock.

Otter Tail Trading Up 1.0%

Shares of OTTR stock opened at $77.15 on Friday. Otter Tail Co. has a 52-week low of $71.66 and a 52-week high of $100.84. 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 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 market capitalization of $3.23 billion, a price-to-earnings ratio of 10.76 and a beta of 0.55.

Otter Tail (NASDAQ:OTTR - Get Free Report) last released 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 net margin of 22.67% and a return on equity of 18.96%. The firm had revenue of $337.35 million during the quarter, compared to the consensus estimate of $349.70 million. During the same period in the prior year, the firm earned $1.77 EPS. The company's revenue was down 2.8% compared to the same quarter last year. Research analysts anticipate that Otter Tail Co. will post 5.88 EPS for the current fiscal year.

Otter Tail Dividend Announcement

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

Analysts Set New Price Targets

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

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