Otter Tail Co. (NASDAQ:OTTR) Shares Bought by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. lifted its holdings in shares of Otter Tail Co. (NASDAQ:OTTR - Free Report) by 28.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,315 shares of the utilities provider's stock after purchasing an additional 18,426 shares during the period. D. E. Shaw & Co. Inc. owned about 0.20% of Otter Tail worth $6,078,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Asset Planning Inc acquired a new position in Otter Tail during the fourth quarter worth approximately $37,000. Crews Bank & Trust purchased a new stake in shares of Otter Tail during the 4th quarter valued at $81,000. New Age Alpha Advisors LLC acquired a new stake in shares of Otter Tail during the 4th quarter worth $94,000. Nisa Investment Advisors LLC raised its position in shares of Otter Tail by 28.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,502 shares of the utilities provider's stock worth $111,000 after buying an additional 333 shares during the period. Finally, KBC Group NV boosted its holdings in Otter Tail by 28.7% in the fourth quarter. KBC Group NV now owns 1,606 shares of the utilities provider's stock valued at $119,000 after acquiring an additional 358 shares during the last quarter. 61.32% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Otter Tail Stock Down 0.9%

Shares of NASDAQ:OTTR traded down $0.72 during trading on Tuesday, hitting $79.05. The company's stock had a trading volume of 155,240 shares, compared to its average volume of 241,483. The company has a market capitalization of $3.31 billion, a PE ratio of 11.03 and a beta of 0.56. Otter Tail Co. has a fifty-two week low of $71.66 and a fifty-two week high of $100.84. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.66 and a current ratio of 2.03. The stock's 50-day moving average price is $79.26 and its two-hundred day moving average price is $78.72.

Otter Tail (NASDAQ:OTTR - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The utilities provider reported $1.62 EPS for the quarter, beating analysts' consensus estimates of $1.53 by $0.09. The firm had revenue of $337.35 million for the quarter, compared to the consensus estimate of $349.70 million. Otter Tail had a net margin of 22.67% and a return on equity of 18.96%. The firm's revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.77 EPS. As a group, sell-side analysts expect that Otter Tail Co. will post 5.88 EPS for the current year.

Otter Tail Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Thursday, May 15th will be given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend is Thursday, May 15th. Otter Tail's payout ratio is 29.91%.

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.