Otter Tail Co. (NASDAQ:OTTR) Stock Holdings Boosted by Federated Hermes Inc.

Federated Hermes Inc. increased its holdings in shares of Otter Tail Co. (NASDAQ:OTTR - Free Report) by 82.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 143,231 shares of the utilities provider's stock after buying an additional 64,876 shares during the quarter. Federated Hermes Inc. owned 0.34% of Otter Tail worth $12,170,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Fuller & Thaler Asset Management Inc. grew its stake in Otter Tail by 32.0% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 545,488 shares of the utilities provider's stock valued at $41,413,000 after purchasing an additional 132,162 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Otter Tail by 2.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 508,849 shares of the utilities provider's stock worth $38,632,000 after buying an additional 11,061 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of Otter Tail by 8,231.5% in the fourth quarter. International Assets Investment Management LLC now owns 187,958 shares of the utilities provider's stock worth $15,971,000 after buying an additional 185,702 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Otter Tail by 10.7% in the third quarter. Rhumbline Advisers now owns 116,001 shares of the utilities provider's stock worth $8,807,000 after buying an additional 11,173 shares during the last quarter. Finally, Phocas Financial Corp. boosted its stake in shares of Otter Tail by 2.0% in the fourth quarter. Phocas Financial Corp. now owns 113,492 shares of the utilities provider's stock worth $9,643,000 after buying an additional 2,188 shares during the last quarter. 61.32% of the stock is currently owned by hedge funds and other institutional investors.

Otter Tail Stock Performance

Shares of OTTR traded up $0.66 during mid-day trading on Wednesday, reaching $85.70. The company had a trading volume of 119,014 shares, compared to its average volume of 255,481. The stock has a market capitalization of $3.57 billion, a P/E ratio of 12.09 and a beta of 0.56. Otter Tail Co. has a 52-week low of $68.96 and a 52-week high of $99.49. The company has a quick ratio of 1.36, a current ratio of 1.84 and a debt-to-equity ratio of 0.57. The stock has a 50 day moving average of $85.06 and a two-hundred day moving average of $82.64.

Otter Tail (NASDAQ:OTTR - Get Free Report) last released its quarterly earnings results on Tuesday, February 13th. The utilities provider reported $1.25 earnings per share for the quarter, topping analysts' consensus estimates of $1.22 by $0.03. Otter Tail had a return on equity of 21.64% and a net margin of 21.81%. The company had revenue of $314.31 million during the quarter, compared to analysts' expectations of $300.60 million. During the same quarter in the prior year, the firm posted $1.00 EPS. On average, analysts expect that Otter Tail Co. will post 5.28 earnings per share for the current year.

Otter Tail Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Thursday, February 15th were issued a $0.468 dividend. This represents a $1.87 annualized dividend and a dividend yield of 2.18%. The ex-dividend date was Wednesday, February 14th. This is a boost from Otter Tail's previous quarterly dividend of $0.44. Otter Tail's dividend payout ratio (DPR) is currently 26.71%.

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.