Louisiana State Employees Retirement System bought a new position in Otter Tail Co. (NASDAQ:OTTR – Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 20,900 shares of the utilities provider’s stock, valued at approximately $1,776,000.
Other large investors have also recently modified their holdings of the company. Russell Investments Group Ltd. purchased a new position in shares of Otter Tail in the first quarter worth about $28,000. Chilton Capital Management LLC purchased a new position in Otter Tail during the first quarter valued at approximately $31,000. Advisors Asset Management Inc. purchased a new position in Otter Tail during the first quarter valued at approximately $45,000. Ronald Blue Trust Inc. grew its stake in Otter Tail by 70.6% during the third quarter. Ronald Blue Trust Inc. now owns 672 shares of the utilities provider’s stock valued at $53,000 after acquiring an additional 278 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in Otter Tail during the third quarter valued at approximately $58,000. Hedge funds and other institutional investors own 61.32% of the company’s stock.
Otter Tail Price Performance
Shares of NASDAQ:OTTR opened at $82.29 on Friday. The company has a 50 day moving average of $85.71 and a 200 day moving average of $82.32. The stock has a market cap of $3.43 billion, a P/E ratio of 11.76 and a beta of 0.56. Otter Tail Co. has a 12 month low of $68.96 and a 12 month high of $99.49. The company has a current ratio of 1.84, a quick ratio of 1.36 and a debt-to-equity ratio of 0.57.
Otter Tail Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Thursday, February 15th were given a dividend of $0.468 per share. The ex-dividend date of this dividend was Wednesday, February 14th. This is a positive change from Otter Tail’s previous quarterly dividend of $0.44. This represents a $1.87 annualized dividend and a yield of 2.27%. Otter Tail’s payout ratio is presently 26.71%.
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.
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