Gamco Investors INC. ET AL Acquires 10,250 Shares of Otter Tail Co. (NASDAQ:OTTR)

Gamco Investors INC. ET AL raised its position in Otter Tail Co. (NASDAQ:OTTR - Free Report) by 3.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 273,692 shares of the utilities provider's stock after acquiring an additional 10,250 shares during the quarter. Gamco Investors INC. ET AL owned approximately 0.65% of Otter Tail worth $20,209,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new position in Otter Tail in the 3rd quarter worth $39,000. Asset Planning Inc bought a new stake in Otter Tail during the 4th quarter valued at approximately $37,000. Crews Bank & Trust bought a new position in shares of Otter Tail in the 4th quarter worth approximately $81,000. New Age Alpha Advisors LLC purchased a new position in shares of Otter Tail in the 4th quarter valued at approximately $94,000. Finally, Nisa Investment Advisors LLC grew its stake in Otter Tail by 28.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,502 shares of the utilities provider's stock worth $111,000 after purchasing an additional 333 shares during the period. 61.32% of the stock is owned by institutional investors.

Otter Tail Stock Down 0.9 %

Shares of OTTR stock traded down $0.75 during mid-day trading on Monday, reaching $78.21. 27,420 shares of the company's stock traded hands, compared to its average volume of 268,047. The company's 50-day moving average price is $80.07 and its 200-day moving average price is $78.63. The company has a market cap of $3.27 billion, a P/E ratio of 10.91 and a beta of 0.49. The company has a quick ratio of 1.66, a current ratio of 2.03 and a debt-to-equity ratio of 0.57. Otter Tail Co. has a 12 month low of $71.66 and a 12 month high of $100.84.

Otter Tail (NASDAQ:OTTR - Get Free Report) last issued its quarterly 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 for 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, equities analysts expect that Otter Tail Co. will post 5.88 earnings per share for the current fiscal year.

Otter Tail Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were given a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend was Friday, February 14th. This is a positive change from Otter Tail's previous quarterly dividend of $0.47. Otter Tail's payout ratio is currently 29.29%.

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.