Segall Bryant & Hamill LLC Sells 11,226 Shares of Otter Tail Co. (NASDAQ:OTTR)

Segall Bryant & Hamill LLC decreased its stake in shares of Otter Tail Co. (NASDAQ:OTTR) by 29.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,478 shares of the utilities provider’s stock after selling 11,226 shares during the period. Segall Bryant & Hamill LLC owned approximately 0.06% of Otter Tail worth $1,955,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in OTTR. Vanguard Group Inc. increased its holdings in Otter Tail by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 5,275,068 shares of the utilities provider’s stock worth $389,511,000 after purchasing an additional 43,186 shares in the last quarter. LPL Financial LLC boosted its position in shares of Otter Tail by 3.2% during the fourth quarter. LPL Financial LLC now owns 59,865 shares of the utilities provider’s stock worth $4,420,000 after buying an additional 1,837 shares during the period. AXQ Capital LP bought a new position in shares of Otter Tail during the fourth quarter worth about $263,000. Sei Investments Co. raised its position in Otter Tail by 4.3% in the 4th quarter. Sei Investments Co. now owns 7,709 shares of the utilities provider’s stock valued at $569,000 after buying an additional 318 shares during the last quarter. Finally, Quantbot Technologies LP lifted its stake in Otter Tail by 25.9% in the 4th quarter. Quantbot Technologies LP now owns 21,696 shares of the utilities provider’s stock valued at $1,602,000 after acquiring an additional 4,464 shares in the last quarter. 61.32% of the stock is currently owned by institutional investors and hedge funds.

Otter Tail Price Performance

Shares of OTTR opened at $80.73 on Friday. The company has a quick ratio of 1.66, a current ratio of 2.03 and a debt-to-equity ratio of 0.57. Otter Tail Co. has a twelve month low of $71.66 and a twelve month high of $100.84. The stock has a market capitalization of $3.38 billion, a P/E ratio of 11.26 and a beta of 0.53. The company has a 50 day moving average of $79.97 and a 200-day moving average of $78.60.

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

Otter Tail Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were given a $0.525 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.60%. This is an increase from Otter Tail’s previous quarterly dividend of $0.47. Otter Tail’s payout ratio is currently 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.