Federated Hermes Inc. Has $12.17 Million Holdings in Otter Tail Co. (NASDAQ:OTTR)

Federated Hermes Inc. lifted its holdings in Otter Tail Co. (NASDAQ:OTTR) by 82.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 143,231 shares of the utilities provider’s stock after purchasing an additional 64,876 shares during the period. Federated Hermes Inc.’s holdings in Otter Tail were worth $12,170,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Otter Tail by 4.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,409 shares of the utilities provider’s stock worth $715,000 after acquiring an additional 358 shares during the period. Phocas Financial Corp. raised its holdings in Otter Tail by 2.0% in the 4th quarter. Phocas Financial Corp. now owns 113,492 shares of the utilities provider’s stock worth $9,643,000 after acquiring an additional 2,188 shares during the period. Louisiana State Employees Retirement System bought a new position in Otter Tail in the 4th quarter worth $1,776,000. Priebe Wealth Holdings LLC bought a new position in Otter Tail in the 4th quarter worth $223,000. Finally, International Assets Investment Management LLC raised its holdings in Otter Tail by 8,231.5% in the 4th quarter. International Assets Investment Management LLC now owns 187,958 shares of the utilities provider’s stock worth $15,971,000 after acquiring an additional 185,702 shares during the period. Institutional investors and hedge funds own 61.32% of the company’s stock.

Otter Tail Stock Performance

Shares of OTTR opened at $85.04 on Wednesday. The company’s fifty day moving average price is $85.06 and its 200 day moving average price is $82.64. The company has a market capitalization of $3.55 billion, a PE ratio of 12.15 and a beta of 0.56. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.84 and a quick ratio of 1.36. Otter Tail Co. has a one year low of $68.96 and a one year high of $99.49.

Otter Tail (NASDAQ:OTTR) last announced its quarterly earnings data on Tuesday, February 13th. The utilities provider reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.03. The business had revenue of $314.31 million during the quarter, compared to analyst estimates of $300.60 million. Otter Tail had a net margin of 21.81% and a return on equity of 21.64%. During the same quarter in the prior year, the business earned $1.00 earnings per share. As a group, analysts expect that Otter Tail Co. will post 5.28 earnings per share for the current year.

Otter Tail Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Thursday, February 15th were given a dividend of $0.468 per share. The ex-dividend date was Wednesday, February 14th. This represents a $1.87 dividend on an annualized basis and a dividend yield of 2.20%. This is a positive change from Otter Tail’s previous quarterly dividend of $0.44. Otter Tail’s dividend payout ratio is currently 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.