Virtu Financial LLC Takes Position in Otter Tail Co. (NASDAQ:OTTR)

Virtu Financial LLC bought a new position in Otter Tail Co. (NASDAQ:OTTR) during the third quarter, according to its most recent filing with the SEC. The firm bought 9,097 shares of the utilities provider’s stock, valued at approximately $711,000.

Other hedge funds have also bought and sold shares of the company. Barclays PLC lifted its position in Otter Tail by 359.8% in the 3rd quarter. Barclays PLC now owns 70,553 shares of the utilities provider’s stock valued at $5,514,000 after acquiring an additional 55,210 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Otter Tail in the third quarter worth approximately $306,000. MML Investors Services LLC raised its stake in shares of Otter Tail by 6.6% in the third quarter. MML Investors Services LLC now owns 5,186 shares of the utilities provider’s stock worth $405,000 after purchasing an additional 321 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Otter Tail in the third quarter valued at approximately $589,000. Finally, State Street Corp boosted its position in shares of Otter Tail by 1.1% during the third quarter. State Street Corp now owns 1,598,531 shares of the utilities provider’s stock valued at $124,941,000 after buying an additional 18,109 shares during the last quarter. Institutional investors and hedge funds own 61.32% of the company’s stock.

Otter Tail Trading Down 0.9 %

NASDAQ:OTTR opened at $75.88 on Friday. Otter Tail Co. has a 52 week low of $73.43 and a 52 week high of $100.84. The firm has a 50-day moving average price of $79.15 and a two-hundred day moving average price of $83.88. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.66 and a current ratio of 2.17. The firm has a market cap of $3.17 billion, a price-to-earnings ratio of 10.48 and a beta of 0.54.

Otter Tail (NASDAQ:OTTR) last issued its quarterly earnings results on Monday, November 4th. The utilities provider reported $2.03 EPS for the quarter, beating analysts’ consensus estimates of $1.97 by $0.06. The company had revenue of $338.03 million during the quarter, compared to the consensus estimate 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 posted $2.19 earnings per share. On average, equities analysts expect that Otter Tail Co. will post 7.13 earnings per share for the current fiscal year.

Otter Tail Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th were paid a dividend of $0.468 per share. This represents a $1.87 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend was Friday, November 15th. Otter Tail’s payout ratio is 25.83%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on OTTR. Siebert Williams Shank raised Otter Tail from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 6th. StockNews.com upgraded shares of Otter Tail from a “sell” rating to a “hold” rating in a research note 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.