Los Angeles Capital Management LLC Boosts Holdings in Otter Tail Co. (NASDAQ:OTTR)

Los Angeles Capital Management LLC boosted its holdings in Otter Tail Co. (NASDAQ:OTTR) by 26.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 26,641 shares of the utilities provider’s stock after acquiring an additional 5,550 shares during the period. Los Angeles Capital Management LLC owned 0.06% of Otter Tail worth $2,082,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in OTTR. Vanguard Group Inc. lifted its stake in shares of Otter Tail by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 5,238,510 shares of the utilities provider’s stock valued at $452,607,000 after purchasing an additional 197,617 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Otter Tail by 0.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,035,541 shares of the utilities provider’s stock valued at $90,703,000 after buying an additional 3,974 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Otter Tail by 1.1% in the second quarter. Bank of New York Mellon Corp now owns 435,005 shares of the utilities provider’s stock valued at $38,102,000 after buying an additional 4,862 shares during the last quarter. Federated Hermes Inc. boosted its stake in Otter Tail by 3.6% during the second quarter. Federated Hermes Inc. now owns 143,074 shares of the utilities provider’s stock worth $12,532,000 after buying an additional 4,997 shares during the period. Finally, Bank & Trust Co acquired a new stake in shares of Otter Tail during the second quarter valued at about $11,129,000. 61.32% of the stock is currently owned by hedge funds and other institutional investors.

Otter Tail Stock Up 0.6 %

Shares of NASDAQ:OTTR opened at $80.31 on Thursday. The firm has a market capitalization of $3.36 billion, a PE ratio of 11.09 and a beta of 0.52. 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 firm’s 50-day moving average is $78.52 and its two-hundred day moving average is $85.54.

Otter Tail (NASDAQ:OTTR) last announced its 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. Otter Tail had a net margin of 22.70% and a return on equity of 19.84%. The firm had revenue of $338.03 million for the quarter, compared to the consensus estimate of $362.20 million. During the same period in the prior year, the firm earned $2.19 EPS. Analysts predict that Otter Tail Co. will post 7.01 EPS for the current year.

Otter Tail Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Siebert Williams Shank raised shares of Otter Tail from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 6th. StockNews.com upgraded Otter Tail from a “sell” rating to a “hold” rating in a research report on Thursday.

Otter Tail 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.