Yousif Capital Management LLC Reduces Stake in Otter Tail Corporation (NASDAQ:OTTR)

Yousif Capital Management LLC trimmed its stake in Otter Tail Corporation (NASDAQ:OTTR) by 1.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,597 shares of the utilities provider’s stock after selling 253 shares during the quarter. Yousif Capital Management LLC’s holdings in Otter Tail were worth $1,254,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rhumbline Advisers lifted its stake in shares of Otter Tail by 2.8% during the 4th quarter. Rhumbline Advisers now owns 108,714 shares of the utilities provider’s stock valued at $8,027,000 after buying an additional 2,996 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its stake in shares of Otter Tail by 21.8% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 26,243 shares of the utilities provider’s stock valued at $1,938,000 after buying an additional 4,695 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Otter Tail by 4.2% during the 4th quarter. Principal Financial Group Inc. now owns 225,987 shares of the utilities provider’s stock valued at $16,687,000 after buying an additional 9,088 shares in the last quarter. CIBC Asset Management Inc purchased a new stake in shares of Otter Tail during the 4th quarter valued at approximately $213,000. Finally, D.A. Davidson & CO. lifted its stake in shares of Otter Tail by 3.8% during the 4th quarter. D.A. Davidson & CO. now owns 6,958 shares of the utilities provider’s stock valued at $514,000 after buying an additional 253 shares in the last quarter. 61.32% of the stock is currently owned by hedge funds and other institutional investors.

Otter Tail Stock Performance

Shares of OTTR stock opened at $75.47 on Wednesday. The stock has a market capitalization of $3.16 billion, a P/E ratio of 10.75 and a beta of 0.55. The company has a current ratio of 2.62, a quick ratio of 2.03 and a debt-to-equity ratio of 0.58. The firm’s 50 day moving average is $78.07 and its 200 day moving average is $78.25. Otter Tail Corporation has a 12 month low of $71.66 and a 12 month high of $100.84.

Otter Tail (NASDAQ:OTTR) last posted its earnings results on Monday, May 5th. The utilities provider reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.09. The business had revenue of $337.35 million for the quarter, compared to analyst estimates of $349.70 million. Otter Tail had a net margin of 22.37% and a return on equity of 17.95%. Otter Tail’s revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.77 EPS. On average, sell-side analysts anticipate that Otter Tail Corporation will post 5.88 earnings per share for the current year.

Otter Tail Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Thursday, May 15th were issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend was Thursday, May 15th. Otter Tail’s dividend payout ratio (DPR) is presently 29.91%.

Analyst Ratings Changes

Separately, Siebert Williams Shank upgraded shares of Otter Tail from a “hold” rating to a “buy” rating and upped their price target for the company from $82.00 to $83.00 in a research note on Wednesday, May 7th.

Otter Tail Company Profile

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.