Crews Bank & Trust Takes Position in Otter Tail Co. (NASDAQ:OTTR)

Crews Bank & Trust purchased a new position in shares of Otter Tail Co. (NASDAQ:OTTR) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,092 shares of the utilities provider’s stock, valued at approximately $81,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in OTTR. State Street Corp raised its holdings in shares of Otter Tail by 1.1% in the 3rd quarter. State Street Corp now owns 1,598,531 shares of the utilities provider’s stock worth $124,941,000 after buying an additional 18,109 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Otter Tail by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 509,130 shares of the utilities provider’s stock valued at $39,794,000 after acquiring an additional 3,425 shares during the period. Caisse DE Depot ET Placement DU Quebec acquired a new position in Otter Tail during the third quarter worth $6,484,000. Whittier Trust Co. lifted its holdings in shares of Otter Tail by 4.6% during the third quarter. Whittier Trust Co. now owns 81,749 shares of the utilities provider’s stock valued at $6,388,000 after acquiring an additional 3,609 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Otter Tail by 4.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 78,827 shares of the utilities provider’s stock valued at $6,904,000 after purchasing an additional 3,593 shares in the last quarter. Institutional investors own 61.32% of the company’s stock.

Analyst Upgrades and Downgrades

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

Otter Tail Price Performance

OTTR opened at $77.04 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.17 and a quick ratio of 1.66. The stock has a market capitalization of $3.22 billion, a P/E ratio of 10.64 and a beta of 0.56. The company’s 50 day simple moving average is $76.97 and its 200-day simple moving average is $81.14. Otter Tail Co. has a one year low of $71.66 and a one year high of $100.84.

Otter Tail (NASDAQ:OTTR) last announced its quarterly earnings data on Monday, November 4th. The utilities provider reported $2.03 EPS for the quarter, beating analysts’ consensus estimates of $1.97 by $0.06. Otter Tail had a return on equity of 19.84% and a net margin of 22.70%. The firm 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 earned $2.19 EPS. Sell-side analysts anticipate that Otter Tail Co. will post 7.13 earnings per share for the current fiscal year.

Otter Tail Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th were given a dividend of $0.468 per share. This represents a $1.87 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend was Friday, November 15th. Otter Tail’s dividend payout ratio is 25.83%.

Otter Tail 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.