Dimensional Fund Advisors LP grew its position in shares of Otter Tail Co. (NASDAQ:OTTR) by 3.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,158,720 shares of the utilities provider’s stock after purchasing an additional 33,584 shares during the period. Dimensional Fund Advisors LP owned about 2.93% of Otter Tail worth $50,232,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Old Mutual Global Investors UK Ltd. bought a new stake in Otter Tail during the second quarter worth about $107,000. Ameritas Investment Partners Inc. lifted its stake in Otter Tail by 9.8% during the second quarter. Ameritas Investment Partners Inc. now owns 3,453 shares of the utilities provider’s stock worth $137,000 after purchasing an additional 309 shares during the last quarter. C M Bidwell & Associates Ltd. bought a new stake in Otter Tail during the second quarter worth about $173,000. Amalgamated Bank bought a new stake in Otter Tail during the third quarter worth about $212,000. Finally, Murphy Capital Management Inc. bought a new stake in Otter Tail during the third quarter worth about $216,000. 41.02% of the stock is owned by hedge funds and other institutional investors.
In other news, Director John D. Erickson sold 2,400 shares of the business’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $45.55, for a total value of $109,320.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP George A. Koeck sold 3,000 shares of the business’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $46.50, for a total value of $139,500.00. The disclosure for this sale can be found here. In the last three months, insiders sold 6,900 shares of company stock valued at $318,570. 1.40% of the stock is currently owned by corporate insiders.
Otter Tail (NASDAQ:OTTR) last released its earnings results on Wednesday, November 1st. The utilities provider reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.06. Otter Tail had a return on equity of 10.47% and a net margin of 8.53%. The company had revenue of $216.50 million during the quarter, compared to analyst estimates of $201.70 million. During the same quarter in the previous year, the company posted $0.37 EPS. Otter Tail’s revenue for the quarter was up 9.8% on a year-over-year basis. analysts expect that Otter Tail Co. will post 1.8 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Saturday, December 9th. Stockholders of record on Wednesday, November 15th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date was Tuesday, November 14th. Otter Tail’s dividend payout ratio (DPR) is presently 71.11%.
OTTR has been the subject of several research analyst reports. KeyCorp reaffirmed a “hold” rating on shares of Otter Tail in a research note on Friday, October 20th. Zacks Investment Research raised Otter Tail from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a research note on Friday, September 15th. Finally, BidaskClub lowered Otter Tail from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $44.67.
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Otter Tail Company Profile
Otter Tail Corporation is a holding company. The Company operates through three segments: Electric, Manufacturing and Plastics. The Electric segment includes the production, transmission, distribution and sale of electric energy in Minnesota, North Dakota and South Dakota by Otter Tail Power Company (OTP).
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