Y Intercept Hong Kong Ltd Takes $306,000 Position in Otter Tail Co. (NASDAQ:OTTR)

Y Intercept Hong Kong Ltd acquired a new stake in Otter Tail Co. (NASDAQ:OTTR) in the 3rd quarter, Holdings Channel reports. The firm acquired 3,917 shares of the utilities provider’s stock, valued at approximately $306,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. GSA Capital Partners LLP raised its position in shares of Otter Tail by 285.1% during the third quarter. GSA Capital Partners LLP now owns 19,030 shares of the utilities provider’s stock valued at $1,487,000 after buying an additional 14,089 shares during the last quarter. Intech Investment Management LLC bought a new position in Otter Tail during the third quarter valued at about $683,000. XTX Topco Ltd acquired a new position in Otter Tail in the 3rd quarter valued at approximately $589,000. Quest Partners LLC lifted its position in shares of Otter Tail by 178,816.7% in the 2nd quarter. Quest Partners LLC now owns 10,735 shares of the utilities provider’s stock worth $940,000 after acquiring an additional 10,729 shares during the period. Finally, Whittier Trust Co. grew its holdings in shares of Otter Tail by 5.2% during the 2nd quarter. Whittier Trust Co. now owns 78,140 shares of the utilities provider’s stock worth $6,844,000 after purchasing an additional 3,841 shares in the last quarter. Institutional investors and hedge funds own 61.32% of the company’s stock.

Otter Tail Price Performance

Shares of Otter Tail stock opened at $76.36 on Wednesday. The stock has a market capitalization of $3.19 billion, a price-to-earnings ratio of 10.49 and a beta of 0.54. The firm’s 50-day moving average price is $79.15 and its two-hundred day moving average price is $83.75. The company has a current ratio of 2.17, a quick ratio of 1.66 and a debt-to-equity ratio of 0.58. Otter Tail Co. has a 1-year low of $73.43 and a 1-year high of $100.84.

Otter Tail (NASDAQ:OTTR) last released its quarterly earnings results on Monday, November 4th. The utilities provider reported $2.03 EPS for the quarter, topping analysts’ consensus estimates of $1.97 by $0.06. Otter Tail had a return on equity of 19.84% and a net margin of 22.70%. The business had revenue of $338.03 million for the quarter, compared to analyst estimates of $362.20 million. During the same period in the prior year, the company earned $2.19 EPS. On average, equities analysts predict that Otter Tail Co. will post 7.13 earnings per share for the current fiscal year.

Otter Tail Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 15th were issued a $0.468 dividend. The ex-dividend date was Friday, November 15th. This represents a $1.87 dividend on an annualized basis and a dividend yield of 2.45%. Otter Tail’s dividend payout ratio is 25.83%.

Analyst Upgrades and Downgrades

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

Otter Tail 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.