Otter Tail (NASDAQ:OTTR) Trading 6.3% Higher

Otter Tail Co. (NASDAQ:OTTR) shares traded up 6.3% during mid-day trading on Tuesday . The company traded as high as $97.00 and last traded at $96.34. 37,815 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 243,156 shares. The stock had previously closed at $90.66.

Otter Tail Stock Down 1.0 %

The stock has a market capitalization of $3.83 billion, a P/E ratio of 13.11 and a beta of 0.56. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.84 and a quick ratio of 1.36. The firm has a 50-day simple moving average of $84.89 and a 200 day simple moving average of $83.66.

Otter Tail (NASDAQ:OTTR) last posted its earnings results on Tuesday, February 13th. The utilities provider reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.03. Otter Tail had a net margin of 21.81% and a return on equity of 21.64%. The firm had revenue of $314.31 million for the quarter, compared to analyst estimates of $300.60 million. During the same period in the previous year, the firm posted $1.00 EPS. On average, equities research analysts forecast that Otter Tail Co. will post 5.28 EPS for the current year.

Otter Tail Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Wednesday, May 15th will be given a dividend of $0.468 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $1.87 dividend on an annualized basis and a dividend yield of 2.04%. Otter Tail’s dividend payout ratio (DPR) is 26.71%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in OTTR. International Assets Investment Management LLC raised its stake in Otter Tail by 8,231.5% during the fourth quarter. International Assets Investment Management LLC now owns 187,958 shares of the utilities provider’s stock worth $15,971,000 after buying an additional 185,702 shares during the last quarter. Fuller & Thaler Asset Management Inc. boosted its position in shares of Otter Tail by 32.0% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 545,488 shares of the utilities provider’s stock valued at $41,413,000 after purchasing an additional 132,162 shares in the last quarter. Rhumbline Advisers grew its stake in Otter Tail by 10.7% during the third quarter. Rhumbline Advisers now owns 116,001 shares of the utilities provider’s stock worth $8,807,000 after purchasing an additional 11,173 shares during the period. Jump Financial LLC bought a new stake in Otter Tail in the third quarter worth approximately $698,000. Finally, QRG Capital Management Inc. acquired a new position in Otter Tail in the third quarter valued at approximately $456,000. Institutional investors own 61.32% of the company’s stock.

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.