Universal Beteiligungs und Servicegesellschaft mbH Makes New $353,000 Investment in Otter Tail Corporation (NASDAQ:OTTR)

Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Otter Tail Corporation (NASDAQ:OTTR - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,390 shares of the utilities provider's stock, valued at approximately $353,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Northern Trust Corp lifted its holdings in shares of Otter Tail by 15.1% during 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 in the last quarter. Millennium Management LLC increased its position in shares of Otter Tail by 13.5% during 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. Invesco Ltd. grew its position in shares of Otter Tail by 49.6% in the 4th quarter. Invesco Ltd. now owns 291,344 shares of the utilities provider's stock valued at $21,513,000 after acquiring an additional 96,573 shares during the period. Gamco Investors INC. ET AL lifted its position in shares of Otter Tail by 3.9% in the fourth quarter. Gamco Investors INC. ET AL now owns 273,692 shares of the utilities provider's stock valued at $20,209,000 after buying an additional 10,250 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Otter Tail by 2.5% in the first quarter. Principal Financial Group Inc. now owns 231,561 shares of the utilities provider's stock valued at $18,611,000 after purchasing an additional 5,574 shares during the last quarter. 61.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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 report on Wednesday, May 7th.

Otter Tail Stock Up 1.1%

Otter Tail stock traded up $0.84 during midday trading on Thursday, hitting $79.42. 113,663 shares of the stock were exchanged, compared to its average volume of 238,860. The company has a quick ratio of 2.03, a current ratio of 3.31 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $3.33 billion, a price-to-earnings ratio of 11.69 and a beta of 0.56. Otter Tail Corporation has a 52-week low of $71.66 and a 52-week high of $92.51. The business's 50-day moving average price is $77.91 and its 200-day moving average price is $78.72.

Otter Tail (NASDAQ:OTTR - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The utilities provider reported $1.85 earnings per share for the quarter, beating analysts' consensus estimates of $1.74 by $0.11. Otter Tail had a return on equity of 16.85% and a net margin of 21.82%. The business had revenue of $333.04 million for the quarter, compared to the consensus estimate of $329.60 million. During the same quarter last year, the business posted $2.07 earnings per share. The company's revenue for the quarter was down 2.7% on a year-over-year basis. On average, research analysts expect that Otter Tail Corporation will post 5.88 EPS for the current fiscal year.

Otter Tail Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 15th will be issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Friday, August 15th. Otter Tail's dividend payout ratio is currently 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.