EntryPoint Capital LLC Sells 1,787 Shares of Otter Tail Co. (NASDAQ:OTTR)

EntryPoint Capital LLC cut its stake in Otter Tail Co. (NASDAQ:OTTR) by 33.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,520 shares of the utilities provider’s stock after selling 1,787 shares during the period. EntryPoint Capital LLC’s holdings in Otter Tail were worth $260,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Caisse DE Depot ET Placement DU Quebec bought a new stake in shares of Otter Tail in the third quarter valued at about $6,484,000. Barclays PLC raised its holdings in Otter Tail by 359.8% in the 3rd quarter. Barclays PLC now owns 70,553 shares of the utilities provider’s stock valued at $5,514,000 after acquiring an additional 55,210 shares in the last quarter. Buck Wealth Strategies LLC bought a new stake in shares of Otter Tail in the 4th quarter worth approximately $3,982,000. Victory Capital Management Inc. grew its holdings in shares of Otter Tail by 61.1% during the 4th quarter. Victory Capital Management Inc. now owns 115,211 shares of the utilities provider’s stock worth $8,507,000 after purchasing an additional 43,693 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Otter Tail by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 5,275,068 shares of the utilities provider’s stock valued at $389,511,000 after purchasing an additional 43,186 shares during the period. 61.32% of the stock is currently owned by institutional investors and hedge funds.

Otter Tail Stock Up 0.2 %

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

Otter Tail (NASDAQ:OTTR) last released its quarterly earnings data on Monday, February 17th. The utilities provider reported $1.30 EPS for the quarter, topping 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 company had revenue of $303.11 million during the quarter, compared to the consensus estimate of $314.75 million. 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 disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 2.60%. This is an increase from Otter Tail’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend was Friday, February 14th. Otter Tail’s payout ratio is presently 29.29%.

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.