US Bancorp DE Has $2.42 Million Stock Holdings in Otter Tail Co. (NASDAQ:OTTR)

US Bancorp DE boosted its stake in Otter Tail Co. (NASDAQ:OTTR) by 1.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 32,721 shares of the utilities provider’s stock after purchasing an additional 395 shares during the quarter. US Bancorp DE owned about 0.08% of Otter Tail worth $2,416,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in OTTR. Covestor Ltd grew its holdings in shares of Otter Tail by 39.1% during the third quarter. Covestor Ltd now owns 1,563 shares of the utilities provider’s stock valued at $122,000 after buying an additional 439 shares during the last quarter. Crossmark Global Holdings Inc. grew its holdings in shares of Otter Tail by 9.9% during the third quarter. Crossmark Global Holdings Inc. now owns 3,144 shares of the utilities provider’s stock valued at $245,000 after buying an additional 283 shares during the last quarter. Los Angeles Capital Management LLC grew its holdings in shares of Otter Tail by 26.3% during the third quarter. Los Angeles Capital Management LLC now owns 26,641 shares of the utilities provider’s stock valued at $2,082,000 after buying an additional 5,550 shares during the last quarter. Versor Investments LP grew its holdings in shares of Otter Tail by 59.7% during the third quarter. Versor Investments LP now owns 11,500 shares of the utilities provider’s stock valued at $899,000 after buying an additional 4,300 shares during the last quarter. Finally, Entropy Technologies LP bought a new position in shares of Otter Tail during the third quarter valued at about $668,000. 61.32% of the stock is currently owned by institutional investors and hedge funds.

Otter Tail Stock Up 1.4 %

OTTR opened at $80.03 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.03 and a quick ratio of 1.66. The company’s 50-day moving average is $77.81 and its 200 day moving average is $78.91. Otter Tail Co. has a fifty-two week low of $71.66 and a fifty-two week high of $100.84. The firm has a market capitalization of $3.35 billion, a P/E ratio of 11.16 and a beta of 0.57.

Otter Tail (NASDAQ:OTTR) last released its quarterly earnings results on Monday, February 17th. The utilities provider reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.04. Otter Tail had a net margin of 22.67% and a return on equity of 18.96%. The company had revenue of $303.11 million for the quarter, compared to analyst estimates of $314.75 million. Research analysts expect that Otter Tail Co. will post 5.88 earnings per share for the current fiscal year.

Otter Tail Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a dividend of $0.525 per share. This is an increase from Otter Tail’s previous quarterly dividend of $0.47. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend is Friday, February 14th. Otter Tail’s dividend payout ratio is currently 29.29%.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Otter Tail from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th.

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.