Financial Perspectives Inc Invests $88,000 in Otter Tail Co. (NASDAQ:OTTR)

Financial Perspectives Inc acquired a new stake in Otter Tail Co. (NASDAQ:OTTR) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 1,036 shares of the utilities provider’s stock, valued at approximately $88,000.

Several other institutional investors and hedge funds have also modified their holdings of OTTR. International Assets Investment Management LLC grew its position in shares of Otter Tail by 8,231.5% in the 4th quarter. International Assets Investment Management LLC now owns 187,958 shares of the utilities provider’s stock valued at $15,971,000 after purchasing an additional 185,702 shares during the period. Fuller & Thaler Asset Management Inc. lifted its stake in Otter Tail by 32.0% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 545,488 shares of the utilities provider’s stock valued at $41,413,000 after acquiring an additional 132,162 shares in the last quarter. Federated Hermes Inc. lifted its stake in Otter Tail by 82.8% in the 4th quarter. Federated Hermes Inc. now owns 143,231 shares of the utilities provider’s stock valued at $12,170,000 after acquiring an additional 64,876 shares in the last quarter. OneAscent Financial Services LLC bought a new stake in Otter Tail in the 4th quarter valued at approximately $3,127,000. Finally, Illinois Municipal Retirement Fund bought a new stake in Otter Tail in the 3rd quarter valued at approximately $1,890,000. 61.32% of the stock is currently owned by institutional investors and hedge funds.

Otter Tail Stock Up 0.9 %

NASDAQ OTTR traded up $0.76 during trading on Tuesday, hitting $85.04. The stock had a trading volume of 171,698 shares, compared to its average volume of 257,232. Otter Tail Co. has a 12 month low of $68.96 and a 12 month high of $99.49. The company has a market capitalization of $3.55 billion, a PE ratio of 12.15 and a beta of 0.56. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.36 and a current ratio of 1.84. The company’s 50-day moving average price is $85.14 and its two-hundred day moving average price is $82.57.

Otter Tail (NASDAQ:OTTR) last announced its quarterly earnings data on Tuesday, February 13th. The utilities provider reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.03. Otter Tail had a return on equity of 21.64% and a net margin of 21.81%. The company had revenue of $314.31 million for the quarter, compared to analysts’ expectations of $300.60 million. During the same quarter in the prior year, the business posted $1.00 EPS. As a group, sell-side analysts forecast that Otter Tail Co. will post 5.28 EPS for the current year.

Otter Tail Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Thursday, February 15th were paid a $0.468 dividend. This represents a $1.87 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend was Wednesday, February 14th. This is a boost from Otter Tail’s previous quarterly dividend of $0.44. Otter Tail’s dividend payout ratio is 26.71%.

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.