Advisors Asset Management Inc. Boosts Stake in Otter Tail Co. (NASDAQ:OTTR)

Advisors Asset Management Inc. grew its stake in Otter Tail Co. (NASDAQ:OTTR) by 32.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,301 shares of the utilities provider’s stock after acquiring an additional 3,012 shares during the quarter. Advisors Asset Management Inc.’s holdings in Otter Tail were worth $961,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Atticus Wealth Management LLC purchased a new stake in Otter Tail during the second quarter valued at approximately $33,000. Hoese & Co LLP acquired a new position in shares of Otter Tail during the third quarter worth $39,000. Allworth Financial LP lifted its holdings in shares of Otter Tail by 132.8% during the 3rd quarter. Allworth Financial LP now owns 547 shares of the utilities provider’s stock valued at $43,000 after purchasing an additional 312 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Otter Tail by 46.3% in the 2nd quarter. GAMMA Investing LLC now owns 657 shares of the utilities provider’s stock worth $58,000 after purchasing an additional 208 shares in the last quarter. Finally, Quarry LP grew its stake in Otter Tail by 1,811.4% during the 2nd quarter. Quarry LP now owns 669 shares of the utilities provider’s stock worth $59,000 after buying an additional 634 shares during the last quarter. 61.32% of the stock is owned by institutional investors.

Otter Tail Price Performance

NASDAQ OTTR opened at $80.23 on Wednesday. The stock’s fifty day moving average price is $78.98 and its 200 day moving average price is $85.05. Otter Tail Co. has a 1 year low of $73.43 and a 1 year high of $100.84. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.17 and a quick ratio of 1.66. The company has a market cap of $3.36 billion, a price-to-earnings ratio of 11.08 and a beta of 0.52.

Otter Tail (NASDAQ:OTTR) last issued its quarterly earnings results on Monday, November 4th. The utilities provider reported $2.03 earnings per share for the quarter, topping the consensus estimate of $1.97 by $0.06. The company had revenue of $338.03 million for the quarter, compared to the consensus estimate of $362.20 million. Otter Tail had a net margin of 22.70% and a return on equity of 19.84%. During the same quarter in the prior year, the company earned $2.19 EPS. As a group, equities research analysts forecast that Otter Tail Co. will post 7.01 earnings per share for the current year.

Otter Tail Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.468 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.87 dividend on an annualized basis and a dividend yield of 2.33%. Otter Tail’s payout ratio is currently 25.83%.

Analyst Ratings Changes

Several equities research analysts have weighed in on OTTR shares. StockNews.com raised Otter Tail from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. Siebert Williams Shank upgraded shares of Otter Tail from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 6th.

About Otter Tail

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.