Otter Tail Co. (NASDAQ:OTTR) Shares Purchased by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd raised its stake in Otter Tail Co. (NASDAQ:OTTR) by 240.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,211 shares of the utilities provider’s stock after acquiring an additional 8,624 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Otter Tail were worth $955,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in OTTR. Atticus Wealth Management LLC purchased a new position in Otter Tail in the 2nd quarter valued at about $33,000. Hoese & Co LLP purchased a new position in shares of Otter Tail during the third quarter valued at approximately $39,000. Allworth Financial LP boosted its position in Otter Tail by 132.8% during the third quarter. Allworth Financial LP now owns 547 shares of the utilities provider’s stock worth $43,000 after acquiring an additional 312 shares during the last quarter. GAMMA Investing LLC grew its stake in Otter Tail by 46.3% in the 2nd quarter. GAMMA Investing LLC now owns 657 shares of the utilities provider’s stock worth $58,000 after acquiring an additional 208 shares during the period. Finally, Quarry LP raised its holdings in Otter Tail by 1,811.4% in the 2nd quarter. Quarry LP now owns 669 shares of the utilities provider’s stock valued at $59,000 after acquiring an additional 634 shares during the last quarter. 61.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. StockNews.com upgraded Otter Tail from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. Siebert Williams Shank raised Otter Tail from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 6th.

Otter Tail Stock Performance

Shares of OTTR stock opened at $80.88 on Thursday. The firm has a market capitalization of $3.38 billion, a price-to-earnings ratio of 11.17 and a beta of 0.52. The company has a 50 day moving average price of $79.02 and a 200 day moving average price of $84.93. Otter Tail Co. has a one year low of $73.43 and a one year high of $100.84. 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 (NASDAQ:OTTR) last issued its earnings results on Monday, November 4th. The utilities provider reported $2.03 earnings per share for the quarter, topping the consensus estimate of $1.97 by $0.06. Otter Tail had a return on equity of 19.84% and a net margin of 22.70%. The business had revenue of $338.03 million for the quarter, compared to analyst estimates of $362.20 million. During the same period last year, the company posted $2.19 EPS. Sell-side analysts anticipate that Otter Tail Co. will post 7.01 EPS for the current year.

Otter Tail Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be given a dividend of $0.468 per share. This represents a $1.87 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend is Friday, November 15th. Otter Tail’s dividend payout ratio (DPR) is presently 25.83%.

About Otter Tail

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.