Otter Tail Co. (NASDAQ:OTTR) Stake Cut by Bank & Trust Co

Bank & Trust Co lowered its position in shares of Otter Tail Co. (NASDAQ:OTTR) by 1.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 125,379 shares of the utilities provider’s stock after selling 1,622 shares during the period. Otter Tail accounts for about 7.8% of Bank & Trust Co’s holdings, making the stock its 2nd biggest position. Bank & Trust Co’s holdings in Otter Tail were worth $9,258,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of OTTR. Hoese & Co LLP purchased a new stake in shares of Otter Tail in the third quarter worth $39,000. Wilmington Savings Fund Society FSB purchased a new position in Otter Tail in the 3rd quarter worth approximately $39,000. Allworth Financial LP increased its holdings in shares of Otter Tail by 132.8% in the 3rd quarter. Allworth Financial LP now owns 547 shares of the utilities provider’s stock worth $43,000 after buying an additional 312 shares during the last quarter. Quarry LP raised its position in shares of Otter Tail by 1,811.4% during the 2nd quarter. Quarry LP now owns 669 shares of the utilities provider’s stock valued at $59,000 after buying an additional 634 shares in the last quarter. Finally, KBC Group NV lifted its holdings in shares of Otter Tail by 27.9% during the 3rd quarter. KBC Group NV now owns 1,248 shares of the utilities provider’s stock worth $98,000 after acquiring an additional 272 shares during the last quarter. Institutional investors own 61.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on OTTR. Siebert Williams Shank raised 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 report on Thursday, November 14th.

Otter Tail Stock Up 0.9 %

Shares of NASDAQ:OTTR traded up $0.66 during trading on Tuesday, reaching $73.19. 59,022 shares of the stock traded hands, compared to its average volume of 183,546. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.66 and a current ratio of 2.17. Otter Tail Co. has a 52-week low of $72.04 and a 52-week high of $100.84. The stock has a market cap of $3.06 billion, a P/E ratio of 10.11 and a beta of 0.56. The stock has a 50-day moving average of $78.15 and a two-hundred day moving average of $82.33.

Otter Tail (NASDAQ:OTTR) last released its quarterly earnings results on Monday, November 4th. The utilities provider reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.97 by $0.06. The business had revenue of $338.03 million during the quarter, compared to analyst estimates of $362.20 million. Otter Tail had a return on equity of 19.84% and a net margin of 22.70%. During the same quarter in the previous year, the company posted $2.19 earnings per share. As a group, sell-side analysts expect that Otter Tail Co. will post 7.13 earnings per share for the current fiscal year.

Otter Tail Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 15th were issued a dividend of $0.468 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.87 annualized dividend and a yield of 2.56%. 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.