Janney Montgomery Scott LLC lifted its position in Otter Tail Co. (NASDAQ:OTTR – Get Rating) by 5.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 4,899 shares of the utilities provider’s stock after purchasing an additional 266 shares during the period. Janney Montgomery Scott LLC’s holdings in Otter Tail were worth $324,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently made changes to their positions in OTTR. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Otter Tail by 17.0% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 29,033 shares of the utilities provider’s stock worth $1,815,000 after purchasing an additional 4,215 shares during the last quarter. Whittier Trust Co. boosted its holdings in Otter Tail by 6.2% in the first quarter. Whittier Trust Co. now owns 61,565 shares of the utilities provider’s stock valued at $3,847,000 after acquiring an additional 3,575 shares in the last quarter. Signaturefd LLC boosted its holdings in Otter Tail by 65.8% in the first quarter. Signaturefd LLC now owns 731 shares of the utilities provider’s stock valued at $46,000 after acquiring an additional 290 shares in the last quarter. Jackson Creek Investment Advisors LLC boosted its holdings in Otter Tail by 7.8% in the first quarter. Jackson Creek Investment Advisors LLC now owns 22,563 shares of the utilities provider’s stock valued at $1,410,000 after acquiring an additional 1,639 shares in the last quarter. Finally, North Star Investment Management Corp. boosted its holdings in Otter Tail by 1.8% in the first quarter. North Star Investment Management Corp. now owns 60,853 shares of the utilities provider’s stock valued at $3,803,000 after acquiring an additional 1,053 shares in the last quarter. Institutional investors own 48.13% of the company’s stock.
Wall Street Analyst Weigh In
OTTR has been the topic of several recent analyst reports. Maxim Group cut their price target on shares of Otter Tail from $95.00 to $75.00 in a report on Wednesday, November 2nd. Siebert Williams Shank cut shares of Otter Tail from a “hold” rating to a “sell” rating and lifted their price target for the company from $62.00 to $64.00 in a report on Wednesday, August 3rd. Finally, StockNews.com cut shares of Otter Tail from a “buy” rating to a “hold” rating in a report on Monday, October 31st.
Otter Tail Stock Performance
Otter Tail Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 9th. Stockholders of record on Tuesday, November 15th will be issued a dividend of $0.412 per share. This represents a $1.65 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date is Monday, November 14th. Otter Tail’s dividend payout ratio (DPR) is presently 23.54%.
Otter Tail Company Profile
Otter Tail Corporation, together with its subsidiaries, engages in electric utility, manufacturing, and plastic pipe businesses in the United States. The company's 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, Inc markets.
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