Otter Tail Co. (NASDAQ:OTTR) Position Lessened by Two Sigma Investments LP

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

Several other hedge funds also recently modified their holdings of the company. Private Advisor Group LLC increased its position 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 during the period. Quantinno Capital Management LP grew its holdings in shares of Otter Tail by 5.6% in the 4th quarter. Quantinno Capital Management LP now owns 2,760 shares of the utilities provider's stock worth $204,000 after acquiring an additional 146 shares during the last quarter. Summit Investment Advisors Inc. grew its holdings in shares of Otter Tail by 5.0% in 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 last quarter. Xponance Inc. grew its holdings 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 during the last quarter. Finally, D.A. Davidson & CO. grew its holdings 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 during the last quarter. 61.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Otter Tail Price Performance

Shares of NASDAQ OTTR traded down $0.24 during mid-day trading on Wednesday, reaching $79.59. The company had a trading volume of 170,162 shares, compared to its average volume of 241,233. 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 $3.34 billion, a PE ratio of 11.10 and a beta of 0.55. The company has a 50-day moving average price of $77.94 and a two-hundred day moving average price of $78.37. Otter Tail Co. has a 1-year low of $71.66 and a 1-year high of $100.84.

Otter Tail (NASDAQ:OTTR - Get Free Report) last issued its earnings results on Monday, May 5th. The utilities provider reported $1.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.53 by $0.09. The business had revenue of $337.35 million for the quarter, compared to analysts' expectations of $349.70 million. Otter Tail had a return on equity of 18.96% and a net margin of 22.67%. The company's quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.77 EPS. On average, equities analysts anticipate that Otter Tail Co. will post 5.88 earnings per share for the current year.

Otter Tail Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Thursday, May 15th were given a $0.525 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $2.10 annualized dividend and a dividend yield of 2.64%. Otter Tail's dividend payout ratio (DPR) is presently 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.