NewEdge Advisors LLC Raises Holdings in Otter Tail Co. (NASDAQ:OTTR)

NewEdge Advisors LLC raised its stake in Otter Tail Co. (NASDAQ:OTTR - Free Report) by 63.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,191 shares of the utilities provider's stock after acquiring an additional 6,649 shares during the period. NewEdge Advisors LLC's holdings in Otter Tail were worth $1,269,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Stifel Financial Corp purchased a new stake in shares of Otter Tail in the third quarter worth about $238,000. Barclays PLC grew its holdings in shares of Otter Tail by 359.8% in the third 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 in the last quarter. Virtu Financial LLC bought a new stake in Otter Tail in the third quarter worth $711,000. Wilmington Savings Fund Society FSB bought a new position in Otter Tail during the third quarter valued at $39,000. Finally, Franklin Resources Inc. grew its stake in shares of Otter Tail by 5.5% in the 3rd quarter. Franklin Resources Inc. now owns 34,547 shares of the utilities provider's stock worth $2,714,000 after buying an additional 1,804 shares in the last quarter. Hedge funds and other institutional investors own 61.32% of the company's stock.

Otter Tail Trading Down 0.0 %

Shares of NASDAQ:OTTR traded down $0.03 during trading on Tuesday, reaching $77.97. The company's stock had a trading volume of 21,504 shares, compared to its average volume of 262,453. The stock has a market capitalization of $3.26 billion, a PE ratio of 10.87 and a beta of 0.49. Otter Tail Co. has a 12 month low of $71.66 and a 12 month high of $100.84. The company has a current ratio of 2.03, a quick ratio of 1.66 and a debt-to-equity ratio of 0.57. The firm's 50 day simple moving average is $79.93 and its two-hundred day simple moving average is $78.73.

Otter Tail (NASDAQ:OTTR - Get Free Report) last announced its earnings results on Monday, February 17th. The utilities provider reported $1.30 EPS for the quarter, topping analysts' consensus estimates of $1.26 by $0.04. The firm had revenue of $303.11 million during the quarter, compared to analysts' expectations of $314.75 million. Otter Tail had a return on equity of 18.96% and a net margin of 22.67%. On average, research analysts predict that Otter Tail Co. will post 5.88 EPS for the current fiscal year.

Otter Tail Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 2.69%. This is an increase from Otter Tail's previous quarterly dividend of $0.47. The ex-dividend date was Friday, February 14th. Otter Tail's dividend payout ratio is presently 29.29%.

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.