Raymond James Financial Inc. bought a new position in shares of Otter Tail Co. (NASDAQ:OTTR - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 36,182 shares of the utilities provider's stock, valued at approximately $2,672,000. Raymond James Financial Inc. owned about 0.09% of Otter Tail at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of OTTR. Vanguard Group Inc. lifted its holdings in Otter Tail by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 5,275,068 shares of the utilities provider's stock valued at $389,511,000 after purchasing an additional 43,186 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Otter Tail by 5.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 536,545 shares of the utilities provider's stock valued at $39,618,000 after acquiring an additional 27,415 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Otter Tail by 2.3% during the fourth quarter. Bank of New York Mellon Corp now owns 405,146 shares of the utilities provider's stock valued at $29,916,000 after buying an additional 8,993 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Otter Tail by 49.6% during the 4th quarter. Invesco Ltd. now owns 291,344 shares of the utilities provider's stock valued at $21,513,000 after buying an additional 96,573 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Otter Tail by 4.2% during the 4th quarter. Principal Financial Group Inc. now owns 225,987 shares of the utilities provider's stock valued at $16,687,000 after purchasing an additional 9,088 shares during the last quarter. Institutional investors own 61.32% of the company's stock.
Otter Tail Trading Up 2.1 %
Shares of OTTR traded up $1.66 during mid-day trading on Friday, reaching $81.02. 229,251 shares of the company's stock traded hands, compared to its average volume of 239,184. Otter Tail Co. has a 12 month low of $71.66 and a 12 month high of $100.84. The stock's 50-day moving average is $79.78 and its two-hundred day moving average is $78.75. The stock has a market cap of $3.39 billion, a P/E ratio of 11.30 and a beta of 0.49. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.03 and a quick ratio of 1.66.
Otter Tail (NASDAQ:OTTR - Get Free Report) last announced its quarterly earnings results on Monday, February 17th. The utilities provider reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.04. The company 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%. Research analysts forecast that Otter Tail Co. will post 5.88 earnings per share for the current fiscal year.
Otter Tail Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.59%. This is a positive change from Otter Tail's previous quarterly dividend of $0.47. The ex-dividend date was Friday, February 14th. Otter Tail's dividend payout ratio (DPR) is presently 29.29%.
Otter Tail Profile
(
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.
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