Swiss National Bank trimmed its stake in Otter Tail Co. (NASDAQ:OTTR - Free Report) by 10.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 74,000 shares of the utilities provider's stock after selling 8,600 shares during the quarter. Swiss National Bank owned about 0.18% of Otter Tail worth $6,288,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new stake in Otter Tail in the 3rd quarter valued at about $58,000. GAMMA Investing LLC purchased a new stake in Otter Tail during the 4th quarter worth about $62,000. Blue Trust Inc. lifted its holdings in Otter Tail by 53.9% during the 4th quarter. Blue Trust Inc. now owns 1,034 shares of the utilities provider's stock worth $88,000 after purchasing an additional 362 shares in the last quarter. Financial Perspectives Inc purchased a new stake in Otter Tail during the 4th quarter worth about $88,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in Otter Tail during the 4th quarter worth about $130,000. Institutional investors and hedge funds own 61.32% of the company's stock.
Otter Tail Price Performance
OTTR stock traded up $0.21 during midday trading on Thursday, reaching $92.22. The company had a trading volume of 89,762 shares, compared to its average volume of 239,832. Otter Tail Co. has a 1 year low of $68.96 and a 1 year high of $99.49. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.92 and a quick ratio of 2.21. The company has a market capitalization of $3.86 billion, a P/E ratio of 12.67 and a beta of 0.56. The firm has a 50-day moving average price of $85.25 and a 200-day moving average price of $84.36.
Otter Tail (NASDAQ:OTTR - Get Free Report) last issued its earnings results on Tuesday, February 13th. The utilities provider reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.03. The business had revenue of $314.31 million during the quarter, compared to analyst estimates of $300.60 million. Otter Tail had a return on equity of 21.58% and a net margin of 22.55%. During the same quarter in the prior year, the firm earned $1.00 earnings per share. On average, research analysts anticipate that Otter Tail Co. will post 6.38 earnings per share for the current fiscal year.
Otter Tail Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be issued a $0.468 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $1.87 annualized dividend and a dividend yield of 2.03%. Otter Tail's dividend payout ratio is currently 25.69%.
About Otter Tail
(
Free Report)
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.
Featured Articles
Before you consider Otter Tail, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Otter Tail wasn't on the list.
While Otter Tail currently has a "hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Do you expect the global demand for energy to shrink?! If not, it's time to take a look at how energy stocks can play a part in your portfolio.
Get This Free Report
