Vest Financial LLC Buys New Position in Otter Tail Co. (NASDAQ:OTTR)

Vest Financial LLC acquired a new stake in Otter Tail Co. (NASDAQ:OTTR - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 29,999 shares of the utilities provider's stock, valued at approximately $2,411,000. Vest Financial LLC owned about 0.07% of Otter Tail at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Wells Fargo & Company MN boosted its stake in shares of Otter Tail by 13.8% in the 4th quarter. Wells Fargo & Company MN now owns 52,149 shares of the utilities provider's stock valued at $3,851,000 after purchasing an additional 6,331 shares in the last quarter. 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. Charles Schwab Investment Management Inc. boosted its position 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 buying an additional 27,415 shares in the last quarter. LPL Financial LLC grew its stake in shares of Otter Tail by 3.2% during the fourth quarter. LPL Financial LLC now owns 59,865 shares of the utilities provider's stock worth $4,420,000 after buying an additional 1,837 shares during the last quarter. Finally, Private Advisor Group LLC increased its holdings in shares of Otter Tail by 2.8% during the fourth quarter. Private Advisor Group LLC now owns 4,826 shares of the utilities provider's stock worth $356,000 after buying an additional 131 shares in the last quarter. 61.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Otter Tail Trading Up 1.6%

Shares of NASDAQ:OTTR traded up $1.26 during midday trading on Monday, hitting $78.41. 181,414 shares of the stock were exchanged, compared to its average volume of 241,100. The business's 50-day moving average price is $77.90 and its 200 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. 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 stock has a market capitalization of $3.29 billion, a price-to-earnings ratio of 10.94 and a beta of 0.55.

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, topping 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 for the quarter, compared to analyst estimates of $349.70 million. During the same period in the previous year, the firm posted $1.77 EPS. The company's revenue for the quarter was down 2.8% compared to the same quarter last year. Analysts predict that Otter Tail Co. will post 5.88 earnings per share for the current year.

Otter Tail Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Thursday, May 15th will be given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 2.68%. The ex-dividend date of this dividend is Thursday, May 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.