OneAscent Financial Services LLC Invests $1.94 Million in Otter Tail Co. (NASDAQ:OTTR)

OneAscent Financial Services LLC acquired a new position in shares of Otter Tail Co. (NASDAQ:OTTR) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 24,755 shares of the utilities provider’s stock, valued at approximately $1,935,000. Otter Tail accounts for about 1.4% of OneAscent Financial Services LLC’s holdings, making the stock its 11th biggest position. OneAscent Financial Services LLC owned about 0.06% of Otter Tail as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in 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 period. Bank & Trust Co acquired a new stake in Otter Tail in the 2nd quarter valued at $11,129,000. International Assets Investment Management LLC grew its position in Otter Tail by 3,339.9% in the 3rd quarter. International Assets Investment Management LLC now owns 76,434 shares of the utilities provider’s stock valued at $5,974,000 after purchasing an additional 74,212 shares during the period. Edgestream Partners L.P. grew its position in Otter Tail by 2,055.2% in the 2nd quarter. Edgestream Partners L.P. now owns 67,695 shares of the utilities provider’s stock valued at $5,929,000 after purchasing an additional 64,554 shares during the period. Finally, Victory Capital Management Inc. grew its position in Otter Tail by 100.1% in the 3rd quarter. Victory Capital Management Inc. now owns 71,518 shares of the utilities provider’s stock valued at $5,590,000 after purchasing an additional 35,783 shares during the period. Institutional investors and hedge funds own 61.32% of the company’s stock.

Analyst Ratings Changes

OTTR has been the topic of several recent analyst reports. Siebert Williams Shank upgraded Otter Tail from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 6th. StockNews.com upgraded Otter Tail from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th.

Otter Tail Price Performance

Shares of NASDAQ:OTTR opened at $80.09 on Tuesday. The company has a current ratio of 2.17, a quick ratio of 1.66 and a debt-to-equity ratio of 0.58. The stock’s fifty day simple moving average is $78.61 and its two-hundred day simple moving average is $85.45. Otter Tail Co. has a 1-year low of $73.43 and a 1-year high of $100.84. The stock has a market cap of $3.35 billion, a PE ratio of 11.06 and a beta of 0.52.

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

Otter Tail Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.468 per share. This represents a $1.87 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date is Friday, November 15th. Otter Tail’s payout ratio is 25.83%.

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.