Tudor Investment Corp ET AL Sells 18,656 Shares of Otter Tail Co. (NASDAQ:OTTR)

Tudor Investment Corp ET AL reduced its holdings in Otter Tail Co. (NASDAQ:OTTR - Free Report) by 14.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 106,973 shares of the utilities provider's stock after selling 18,656 shares during the quarter. Tudor Investment Corp ET AL owned about 0.26% of Otter Tail worth $7,899,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in OTTR. Barclays PLC lifted its holdings in Otter Tail by 359.8% in the third quarter. Barclays PLC now owns 70,553 shares of the utilities provider's stock worth $5,514,000 after buying an additional 55,210 shares during the period. Virtu Financial LLC bought a new position in shares of Otter Tail in the 3rd quarter worth approximately $711,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Otter Tail in the 3rd quarter valued at approximately $39,000. Franklin Resources Inc. boosted its position in shares of Otter Tail by 5.5% during the third quarter. Franklin Resources Inc. now owns 34,547 shares of the utilities provider's stock valued at $2,714,000 after purchasing an additional 1,804 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in Otter Tail in the fourth quarter worth $455,000. 61.32% of the stock is owned by hedge funds and other institutional investors.

Otter Tail Stock Up 0.6 %

Otter Tail stock traded up $0.51 on Monday, hitting $81.53. 38,044 shares of the stock traded hands, compared to its average volume of 238,921. Otter Tail Co. has a 1 year low of $70.55 and a 1 year high of $100.84. The firm has a market cap of $3.41 billion, a P/E ratio of 11.37 and a beta of 0.49. 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 business's fifty day simple moving average is $79.78 and its 200 day simple moving average is $78.75.

Otter Tail (NASDAQ:OTTR - Get Free Report) last posted its quarterly earnings data on Monday, February 17th. The utilities provider reported $1.30 EPS for the quarter, topping the consensus estimate of $1.26 by $0.04. Otter Tail had a net margin of 22.67% and a return on equity of 18.96%. The business had revenue of $303.11 million for the quarter, compared to analyst estimates of $314.75 million. As a group, sell-side analysts forecast that Otter Tail Co. will post 5.88 earnings per share for the current year.

Otter Tail Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 2.58%. 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 dividend payout ratio (DPR) is 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.