Quantamental Technologies LLC bought a new stake in Otter Tail Co. (NASDAQ:OTTR) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,055 shares of the utilities provider’s stock, valued at approximately $56,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in OTTR. First Trust Advisors LP increased its holdings in shares of Otter Tail by 10.7% during the 2nd quarter. First Trust Advisors LP now owns 679,194 shares of the utilities provider’s stock worth $35,868,000 after acquiring an additional 65,524 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Otter Tail by 9.8% in the fourth quarter. Geode Capital Management LLC now owns 471,635 shares of the utilities provider’s stock valued at $23,411,000 after buying an additional 41,911 shares during the period. GWM Advisors LLC raised its stake in shares of Otter Tail by 972.7% in the first quarter. GWM Advisors LLC now owns 106,620 shares of the utilities provider’s stock valued at $559,000 after buying an additional 96,681 shares during the period. Martingale Asset Management L P raised its stake in shares of Otter Tail by 40.7% in the first quarter. Martingale Asset Management L P now owns 103,721 shares of the utilities provider’s stock valued at $5,168,000 after buying an additional 30,000 shares during the period. Finally, Swiss National Bank raised its stake in shares of Otter Tail by 2.2% in the second quarter. Swiss National Bank now owns 66,500 shares of the utilities provider’s stock valued at $3,512,000 after buying an additional 1,400 shares during the period. Hedge funds and other institutional investors own 44.03% of the company’s stock.
Otter Tail stock traded up $0.28 during midday trading on Friday, hitting $54.18. 509 shares of the company’s stock were exchanged, compared to its average volume of 65,712. Otter Tail Co. has a 12-month low of $44.22 and a 12-month high of $54.51. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.77 and a current ratio of 1.28. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of 26.27, a price-to-earnings-growth ratio of 3.42 and a beta of 0.36. The firm’s 50 day simple moving average is $51.68 and its 200 day simple moving average is $51.14.
Otter Tail (NASDAQ:OTTR) last announced its earnings results on Monday, August 5th. The utilities provider reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.09). The business had revenue of $229.20 million for the quarter, compared to analyst estimates of $229.20 million. Otter Tail had a return on equity of 10.78% and a net margin of 8.57%. The business’s revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.47 EPS. On average, equities research analysts forecast that Otter Tail Co. will post 2.2 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.35 per share. The ex-dividend date was Wednesday, August 14th. This represents a $1.40 annualized dividend and a yield of 2.58%. Otter Tail’s dividend payout ratio is currently 67.96%.
Several analysts have issued reports on the company. Zacks Investment Research lowered Otter Tail from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 21st. Maxim Group set a $60.00 price target on Otter Tail and gave the company a “buy” rating in a research report on Wednesday, August 7th. Finally, BidaskClub raised Otter Tail from a “hold” rating to a “buy” rating in a research report on Friday, September 6th.
Otter Tail Company Profile
Otter Tail Corporation, together with its subsidiaries, engages in electric, manufacturing, and plastics businesses in the United States. The company's 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, Inc markets.
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