Voloridge Investment Management LLC Takes Position in Otter Tail Co. (NASDAQ:OTTR)

Voloridge Investment Management LLC bought a new stake in shares of Otter Tail Co. (NASDAQ:OTTR - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 76,860 shares of the utilities provider's stock, valued at approximately $5,675,000. Voloridge Investment Management LLC owned 0.18% of Otter Tail as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Otter Tail by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 5,275,068 shares of the utilities provider's stock valued at $389,511,000 after acquiring an additional 43,186 shares during the period. Northern Trust Corp boosted its holdings in Otter Tail by 15.1% in the 4th quarter. Northern Trust Corp now owns 545,618 shares of the utilities provider's stock worth $40,288,000 after buying an additional 71,601 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Otter Tail by 5.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 536,545 shares of the utilities provider's stock worth $39,618,000 after buying an additional 27,415 shares during the last quarter. Millennium Management LLC boosted its holdings in Otter Tail by 13.5% in the 4th quarter. Millennium Management LLC now owns 411,281 shares of the utilities provider's stock worth $30,369,000 after buying an additional 48,888 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Otter Tail by 2.3% in the 4th quarter. Bank of New York Mellon Corp now owns 405,146 shares of the utilities provider's stock worth $29,916,000 after buying an additional 8,993 shares during the last quarter. 61.32% of the stock is currently owned by institutional investors and hedge funds.

Otter Tail Price Performance

OTTR traded down $0.25 during trading on Friday, reaching $77.22. The company's stock had a trading volume of 155,163 shares, compared to its average volume of 242,867. The company has a quick ratio of 1.66, a current ratio of 2.03 and a debt-to-equity ratio of 0.57. The firm has a fifty day simple moving average of $78.35 and a two-hundred day simple moving average of $78.49. Otter Tail Co. has a 1 year low of $71.66 and a 1 year high of $100.84. The company has a market cap of $3.24 billion, a price-to-earnings ratio of 10.77 and a beta of 0.56.

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, 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 business had revenue of $337.35 million for the quarter, compared to analyst estimates of $349.70 million. During the same period last year, the company posted $1.77 EPS. The business's revenue was down 2.8% on a year-over-year basis. As a group, analysts anticipate that Otter Tail Co. will post 5.88 EPS for the current year.

Otter Tail Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

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.