Janney Montgomery Scott LLC Boosts Stock Holdings in Otter Tail Co. (NASDAQ:OTTR)

Janney Montgomery Scott LLC boosted its position in shares of Otter Tail Co. (NASDAQ:OTTRGet Rating) by 14.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 5,626 shares of the utilities provider’s stock after buying an additional 727 shares during the period. Janney Montgomery Scott LLC’s holdings in Otter Tail were worth $346,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of OTTR. Chilton Capital Management LLC purchased a new stake in Otter Tail during the 2nd quarter worth approximately $29,000. Goodman Advisory Group LLC purchased a new stake in Otter Tail during the 2nd quarter worth approximately $45,000. C M Bidwell & Associates Ltd. purchased a new stake in Otter Tail during the 2nd quarter worth approximately $47,000. EverSource Wealth Advisors LLC purchased a new stake in Otter Tail during the 2nd quarter worth approximately $88,000. Finally, Meeder Asset Management Inc. increased its stake in Otter Tail by 100.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 1,320 shares of the utilities provider’s stock worth $89,000 after buying an additional 660 shares in the last quarter. 49.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

OTTR has been the topic of several recent research reports. StockNews.com cut Otter Tail from a “buy” rating to a “hold” rating in a report on Monday, October 31st. Maxim Group lowered their target price on Otter Tail from $95.00 to $75.00 in a report on Wednesday, November 2nd. Finally, Siebert Williams Shank upgraded Otter Tail from a “sell” rating to a “hold” rating and set a $63.00 target price on the stock in a report on Monday, November 28th.

Otter Tail Trading Up 0.5 %

OTTR opened at $61.99 on Wednesday. Otter Tail Co. has a one year low of $52.60 and a one year high of $82.46. The stock has a market capitalization of $2.58 billion, a PE ratio of 8.84 and a beta of 0.50. The business’s 50 day moving average price is $59.18 and its 200 day moving average price is $65.38. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.30 and a current ratio of 1.90.

Otter Tail (NASDAQ:OTTRGet Rating) last released its quarterly earnings data on Monday, October 31st. The utilities provider reported $2.01 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.31. Otter Tail had a return on equity of 27.09% and a net margin of 19.69%. The firm had revenue of $383.86 million for the quarter, compared to analysts’ expectations of $389.30 million. As a group, equities research analysts expect that Otter Tail Co. will post 6.6 EPS for the current year.

Otter Tail Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 9th. Shareholders of record on Tuesday, November 15th were paid a dividend of $0.412 per share. This represents a $1.65 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date was Monday, November 14th. Otter Tail’s dividend payout ratio (DPR) is 23.54%.

Insider Transactions at Otter Tail

In other news, Director John D. Erickson sold 2,000 shares of the company’s stock in a transaction on Monday, November 21st. The stock was sold at an average price of $56.31, for a total transaction of $112,620.00. Following the sale, the director now owns 3,633 shares of the company’s stock, valued at $204,574.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.00% of the company’s stock.

About Otter Tail

(Get Rating)

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.

Further Reading

Want to see what other hedge funds are holding OTTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Otter Tail Co. (NASDAQ:OTTRGet Rating).

Institutional Ownership by Quarter for Otter Tail (NASDAQ:OTTR)

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