Martingale Asset Management L P Boosts Stock Position in Otter Tail Co. (NASDAQ:OTTR)

Martingale Asset Management L P increased its stake in shares of Otter Tail Co. (NASDAQ:OTTR) by 17.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 37,787 shares of the utilities provider’s stock after buying an additional 5,599 shares during the quarter. Martingale Asset Management L P owned about 0.09% of Otter Tail worth $2,790,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OTTR. Private Advisor Group LLC raised its holdings in shares of Otter Tail by 2.8% during the 4th quarter. Private Advisor Group LLC now owns 4,826 shares of the utilities provider’s stock worth $356,000 after acquiring an additional 131 shares during the period. Quantinno Capital Management LP increased its position in Otter Tail by 6.6% during the third quarter. Quantinno Capital Management LP now owns 2,614 shares of the utilities provider’s stock worth $204,000 after purchasing an additional 162 shares during the last quarter. Xponance Inc. raised its stake in Otter Tail by 9.1% during the fourth quarter. Xponance Inc. now owns 2,946 shares of the utilities provider’s stock worth $218,000 after purchasing an additional 246 shares during the period. D.A. Davidson & CO. boosted its holdings in Otter Tail by 3.8% in the 4th quarter. D.A. Davidson & CO. now owns 6,958 shares of the utilities provider’s stock valued at $514,000 after purchasing an additional 253 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC grew its stake in shares of Otter Tail by 7.5% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 3,672 shares of the utilities provider’s stock valued at $271,000 after buying an additional 256 shares during the period. Institutional investors and hedge funds own 61.32% of the company’s stock.

Otter Tail Stock Down 0.6 %

Shares of NASDAQ OTTR opened at $77.52 on Friday. Otter Tail Co. has a 1 year low of $71.66 and a 1 year high of $100.84. The company has a market capitalization of $3.25 billion, a P/E ratio of 10.81 and a beta of 0.49. The company has a 50 day simple moving average of $79.99 and a 200-day simple moving average of $78.57. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.03 and a quick ratio of 1.66.

Otter Tail (NASDAQ:OTTR) last posted its earnings results on Monday, February 17th. The utilities provider reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.04. The company had revenue of $303.11 million for the quarter, compared to the consensus estimate of $314.75 million. Otter Tail had a return on equity of 18.96% and a net margin of 22.67%. On average, equities research analysts predict that Otter Tail Co. will post 5.88 earnings per share for the current year.

Otter Tail Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 2.71%. The ex-dividend date was Friday, February 14th. This is a positive change from Otter Tail’s previous quarterly dividend of $0.47. Otter Tail’s dividend payout ratio (DPR) is 29.29%.

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.