Otter Tail Co. (NASDAQ:OTTR) Shares Acquired by Versor Investments LP

Versor Investments LP boosted its holdings in shares of Otter Tail Co. (NASDAQ:OTTR) by 59.7% in the third quarter, HoldingsChannel.com reports. The fund owned 11,500 shares of the utilities provider’s stock after buying an additional 4,300 shares during the quarter. Versor Investments LP’s holdings in Otter Tail were worth $899,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Atticus Wealth Management LLC purchased a new stake in Otter Tail during the 2nd quarter worth about $33,000. Hoese & Co LLP purchased a new stake in Otter Tail in the 3rd quarter worth approximately $39,000. Allworth Financial LP raised its holdings in Otter Tail by 132.8% in the 3rd quarter. Allworth Financial LP now owns 547 shares of the utilities provider’s stock valued at $43,000 after acquiring an additional 312 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Otter Tail by 46.3% during the 2nd quarter. GAMMA Investing LLC now owns 657 shares of the utilities provider’s stock worth $58,000 after purchasing an additional 208 shares during the period. Finally, Quarry LP boosted its holdings in shares of Otter Tail by 1,811.4% during the second quarter. Quarry LP now owns 669 shares of the utilities provider’s stock worth $59,000 after purchasing an additional 634 shares during the last quarter. Hedge funds and other institutional investors own 61.32% of the company’s stock.

Otter Tail Stock Down 1.9 %

Shares of NASDAQ OTTR opened at $79.86 on Wednesday. The firm has a market cap of $3.34 billion, a price-to-earnings ratio of 11.14 and a beta of 0.52. Otter Tail Co. has a 1 year low of $73.43 and a 1 year high of $100.84. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.67 and a current ratio of 2.17. The stock’s 50-day simple moving average is $78.56 and its 200-day simple moving average is $85.61.

Otter Tail (NASDAQ:OTTR) last posted its quarterly earnings results on Monday, November 4th. The utilities provider reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.97 by $0.06. The firm had revenue of $338.03 million for the quarter, compared to analysts’ expectations of $362.20 million. Otter Tail had a net margin of 22.70% and a return on equity of 19.84%. During the same period in the prior year, the company posted $2.19 earnings per share. As a group, equities analysts anticipate that Otter Tail Co. will post 7.01 earnings per share for the current fiscal year.

Otter Tail Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.468 per share. This represents a $1.87 annualized dividend and a yield of 2.34%. The ex-dividend date is Friday, November 15th. Otter Tail’s payout ratio is currently 25.83%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on OTTR shares. StockNews.com downgraded Otter Tail from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. Siebert Williams Shank raised shares of Otter Tail from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 6th.

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.