AXQ Capital LP Invests $263,000 in Otter Tail Co. (NASDAQ:OTTR)

AXQ Capital LP purchased a new position in shares of Otter Tail Co. (NASDAQ:OTTR) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,568 shares of the utilities provider’s stock, valued at approximately $263,000.

Other institutional investors have also modified their holdings of the company. XTX Topco Ltd bought a new position in shares of Otter Tail during the third quarter worth about $589,000. Intech Investment Management LLC bought a new position in shares of Otter Tail during the third quarter worth about $683,000. Stifel Financial Corp bought a new position in shares of Otter Tail during the third quarter worth about $238,000. Assenagon Asset Management S.A. bought a new position in shares of Otter Tail during the fourth quarter worth about $455,000. Finally, Barclays PLC grew its position in shares of Otter Tail by 359.8% during the third quarter. Barclays PLC now owns 70,553 shares of the utilities provider’s stock worth $5,514,000 after acquiring an additional 55,210 shares during the last quarter. Institutional investors own 61.32% of the company’s stock.

Otter Tail Stock Down 1.8 %

Otter Tail stock opened at $80.87 on Monday. The firm has a market capitalization of $3.39 billion, a P/E ratio of 11.28 and a beta of 0.53. The company has a 50-day simple moving average of $79.69 and a 200-day simple moving average of $78.52. Otter Tail Co. has a one year low of $71.66 and a one year high of $100.84. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.66 and a current ratio of 2.03.

Otter Tail (NASDAQ:OTTR) last posted its quarterly earnings data on Monday, February 17th. The utilities provider reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.04. The business had revenue of $303.11 million during the quarter, compared to the consensus estimate of $314.75 million. Otter Tail had a net margin of 22.67% and a return on equity of 18.96%. As a group, equities analysts expect that Otter Tail Co. will post 5.88 earnings per share for the current year.

Otter Tail Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were issued a $0.525 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.10 annualized dividend and a yield of 2.60%. This is an increase from Otter Tail’s previous quarterly dividend of $0.47. Otter Tail’s dividend payout ratio is presently 29.29%.

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.