Mutual of America Capital Management LLC Decreases Holdings in Otter Tail Co. (NASDAQ:OTTR)

Mutual of America Capital Management LLC trimmed its stake in Otter Tail Co. (NASDAQ:OTTR) by 8.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,292 shares of the utilities provider’s stock after selling 581 shares during the period. Mutual of America Capital Management LLC’s holdings in Otter Tail were worth $492,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Janus Henderson Group PLC grew its stake in Otter Tail by 45.2% in the first quarter. Janus Henderson Group PLC now owns 29,765 shares of the utilities provider’s stock valued at $2,572,000 after purchasing an additional 9,270 shares during the last quarter. Tidal Investments LLC increased its position in shares of Otter Tail by 320.5% during the first quarter. Tidal Investments LLC now owns 16,879 shares of the utilities provider’s stock worth $1,458,000 after purchasing an additional 12,865 shares in the last quarter. Jane Street Group LLC lifted its holdings in shares of Otter Tail by 57.2% during the 1st quarter. Jane Street Group LLC now owns 64,615 shares of the utilities provider’s stock valued at $5,583,000 after purchasing an additional 23,514 shares during the last quarter. GSA Capital Partners LLP boosted its position in shares of Otter Tail by 285.1% in the 3rd quarter. GSA Capital Partners LLP now owns 19,030 shares of the utilities provider’s stock worth $1,487,000 after purchasing an additional 14,089 shares in the last quarter. Finally, Quest Partners LLC grew its stake in Otter Tail by 178,816.7% during the 2nd quarter. Quest Partners LLC now owns 10,735 shares of the utilities provider’s stock worth $940,000 after buying an additional 10,729 shares during the last quarter. Hedge funds and other institutional investors own 61.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on OTTR shares. StockNews.com upgraded shares of Otter Tail from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Siebert Williams Shank raised Otter Tail from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 6th.

Otter Tail Stock Up 0.8 %

OTTR stock opened at $80.88 on Thursday. The company has a market capitalization of $3.38 billion, a P/E ratio of 11.17 and a beta of 0.52. Otter Tail Co. has a 12 month low of $73.43 and a 12 month high of $100.84. The firm’s fifty day simple moving average is $79.02 and its 200-day simple moving average is $84.93. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.17 and a quick ratio of 1.66.

Otter Tail (NASDAQ:OTTR) last released its quarterly earnings data on Monday, November 4th. The utilities provider reported $2.03 earnings per share for the quarter, beating analysts’ consensus estimates of $1.97 by $0.06. Otter Tail had a return on equity of 19.84% and a net margin of 22.70%. The business had revenue of $338.03 million during the quarter, compared to analyst estimates of $362.20 million. During the same quarter last year, the business posted $2.19 EPS. As a group, equities research analysts forecast that Otter Tail Co. will post 7.01 earnings per share for the current year.

Otter Tail Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.468 per share. This represents a $1.87 annualized dividend and a dividend yield of 2.31%. The ex-dividend date is Friday, November 15th. Otter Tail’s payout ratio is currently 25.83%.

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.