LSV Asset Management Acquires 109,372 Shares of Otter Tail Corporation $OTTR

LSV Asset Management grew its holdings in Otter Tail Corporation (NASDAQ:OTTR) by 183.2% during the third quarter, Holdings Channel.com reports. The firm owned 169,072 shares of the utilities provider’s stock after acquiring an additional 109,372 shares during the quarter. LSV Asset Management’s holdings in Otter Tail were worth $13,859,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. GAMMA Investing LLC boosted its holdings in Otter Tail by 44.0% during the third quarter. GAMMA Investing LLC now owns 432 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 132 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Otter Tail during the 2nd quarter worth about $53,000. Nisa Investment Advisors LLC boosted its stake in shares of Otter Tail by 14.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 997 shares of the utilities provider’s stock worth $82,000 after buying an additional 129 shares during the last quarter. Allworth Financial LP boosted its stake in shares of Otter Tail by 84.3% during the 2nd quarter. Allworth Financial LP now owns 1,198 shares of the utilities provider’s stock worth $92,000 after buying an additional 548 shares during the last quarter. Finally, HM Payson & Co. bought a new position in shares of Otter Tail in the 3rd quarter valued at about $110,000. Institutional investors own 61.32% of the company’s stock.

Otter Tail Stock Performance

Shares of OTTR stock opened at $88.16 on Friday. The company has a fifty day moving average price of $85.15 and a two-hundred day moving average price of $82.65. Otter Tail Corporation has a one year low of $71.79 and a one year high of $90.11. The stock has a market cap of $3.69 billion, a P/E ratio of 13.30 and a beta of 0.55. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.57 and a quick ratio of 2.82.

Otter Tail Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Friday, February 13th will be paid a $0.5775 dividend. This is an increase from Otter Tail’s previous quarterly dividend of $0.53. The ex-dividend date is Friday, February 13th. This represents a $2.31 annualized dividend and a yield of 2.6%. Otter Tail’s dividend payout ratio (DPR) is 31.67%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “buy (b-)” rating on shares of Otter Tail in a report on Thursday, January 22nd. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $83.00.

About Otter Tail

Otter Tail Corporation, through its primary subsidiary Otter Tail Power Company, is a regulated electric utility engaged in the generation, transmission and distribution of electricity. The company operates a diversified portfolio of owned and contracted power generation facilities, including coal, natural gas, wind and hydroelectric units, supplemented by long-term power purchase agreements. In addition to utility operations, Otter Tail provides related engineering, construction and maintenance services to support grid reliability and efficiency.

The company’s service territory covers a predominantly rural footprint in the Upper Midwest, including communities in west-central Minnesota, eastern North Dakota, northwest Wisconsin and small portions of South Dakota.