WINTON GROUP Ltd purchased a new position in Otter Tail Co. (NASDAQ:OTTR – Get Rating) in the first quarter, HoldingsChannel.com reports. The fund purchased 3,504 shares of the utilities provider’s stock, valued at approximately $219,000.
A number of other institutional investors also recently made changes to their positions in OTTR. Chilton Capital Management LLC acquired a new position in shares of Otter Tail in the fourth quarter worth $30,000. Meeder Asset Management Inc. acquired a new position in shares of Otter Tail in the first quarter worth $41,000. Signaturefd LLC raised its holdings in shares of Otter Tail by 65.8% in the first quarter. Signaturefd LLC now owns 731 shares of the utilities provider’s stock worth $46,000 after acquiring an additional 290 shares during the last quarter. Contravisory Investment Management Inc. acquired a new position in shares of Otter Tail in the first quarter worth $220,000. Finally, Wedge Capital Management L L P NC acquired a new position in shares of Otter Tail in the first quarter worth $225,000. 46.58% of the stock is owned by institutional investors and hedge funds.
Otter Tail Price Performance
Shares of NASDAQ:OTTR opened at $77.37 on Tuesday. The company has a market cap of $3.22 billion, a P/E ratio of 12.36 and a beta of 0.46. The company has a quick ratio of 1.13, a current ratio of 1.64 and a debt-to-equity ratio of 0.74. Otter Tail Co. has a 52 week low of $54.14 and a 52 week high of $82.46. The business has a fifty day simple moving average of $71.60 and a 200-day simple moving average of $65.90.
Otter Tail (NASDAQ:OTTR – Get Rating) last announced its quarterly earnings data on Monday, August 1st. The utilities provider reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.50. Otter Tail had a return on equity of 25.55% and a net margin of 18.42%. The business had revenue of $400.04 million during the quarter, compared to the consensus estimate of $336.87 million. During the same quarter in the previous year, the business earned $1.01 earnings per share. The business’s revenue for the quarter was up 40.1% on a year-over-year basis. Equities research analysts forecast that Otter Tail Co. will post 7.08 EPS for the current year.
Otter Tail Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, September 9th. Shareholders of record on Monday, August 15th will be given a dividend of $0.412 per share. This represents a $1.65 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date is Friday, August 12th. Otter Tail’s dividend payout ratio (DPR) is presently 26.36%.
Wall Street Analysts Forecast Growth
OTTR has been the subject of a number of analyst reports. Siebert Williams Shank cut Otter Tail from a “hold” rating to a “sell” rating and boosted their price target for the stock from $62.00 to $64.00 in a report on Wednesday, August 3rd. StockNews.com raised Otter Tail from a “hold” rating to a “buy” rating in a research report on Tuesday.
About Otter Tail
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Otter Tail Corporation, together with its subsidiaries, engages in electric utility, manufacturing, and plastic pipe 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.
See Also
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