Foster & Motley Inc. Sells 145 Shares of Otter Tail Co. (NASDAQ:OTTR)

Foster & Motley Inc. lowered its holdings in Otter Tail Co. (NASDAQ:OTTR) by 1.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,473 shares of the utilities provider’s stock after selling 145 shares during the period. Foster & Motley Inc.’s holdings in Otter Tail were worth $699,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. State Street Corp raised its stake in shares of Otter Tail by 1.1% during the 3rd quarter. State Street Corp now owns 1,598,531 shares of the utilities provider’s stock worth $124,941,000 after purchasing an additional 18,109 shares during the period. Charles Schwab Investment Management Inc. raised 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 worth $39,794,000 after acquiring an additional 3,425 shares during the period. Caisse DE Depot ET Placement DU Quebec purchased a new position in Otter Tail in the third quarter valued at about $6,484,000. Whittier Trust Co. grew its position in shares of Otter Tail by 4.6% during the 3rd 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 increased its stake in shares of Otter Tail by 4.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 78,827 shares of the utilities provider’s stock worth $6,904,000 after purchasing an additional 3,593 shares during the last quarter. Institutional investors own 61.32% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on OTTR. StockNews.com upgraded Otter Tail from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Siebert Williams Shank raised Otter Tail from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 6th.

Otter Tail Price Performance

OTTR opened at $77.04 on Friday. The firm has a 50-day moving average price of $76.97 and a 200-day moving average price of $81.14. Otter Tail Co. has a twelve month low of $71.66 and a twelve month high of $100.84. The company has a quick ratio of 1.66, a current ratio of 2.17 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $3.22 billion, a price-to-earnings ratio of 10.64 and a beta of 0.56.

Otter Tail (NASDAQ:OTTR) last issued its earnings results on Monday, November 4th. The utilities provider reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.97 by $0.06. Otter Tail had a net margin of 22.70% and a return on equity of 19.84%. The business had revenue of $338.03 million for the quarter, compared to analysts’ expectations of $362.20 million. During the same quarter in the previous year, the firm posted $2.19 EPS. Equities analysts expect that Otter Tail Co. will post 7.13 EPS for the current year.

Otter Tail Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th were paid a $0.468 dividend. The ex-dividend date was Friday, November 15th. This represents a $1.87 annualized dividend and a yield of 2.43%. Otter Tail’s dividend payout ratio is currently 25.83%.

Otter Tail Company 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.