Farther Finance Advisors LLC Acquires 2,445 Shares of Otter Tail Corporation (NASDAQ:OTTR)

Farther Finance Advisors LLC raised its holdings in Otter Tail Corporation (NASDAQ:OTTR) by 1,116.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,664 shares of the utilities provider’s stock after buying an additional 2,445 shares during the quarter. Farther Finance Advisors LLC’s holdings in Otter Tail were worth $217,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Vermillion Wealth Management Inc. bought a new stake in shares of Otter Tail in the 4th quarter worth approximately $36,000. AdvisorNet Financial Inc grew its position in shares of Otter Tail by 120.0% in the 1st quarter. AdvisorNet Financial Inc now owns 550 shares of the utilities provider’s stock worth $44,000 after buying an additional 300 shares during the last quarter. Studio Investment Management LLC bought a new stake in shares of Otter Tail in the 4th quarter worth approximately $50,000. New Age Alpha Advisors LLC bought a new stake in shares of Otter Tail in the 4th quarter worth approximately $94,000. Finally, Tower Research Capital LLC TRC grew its position in shares of Otter Tail by 22.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,845 shares of the utilities provider’s stock worth $136,000 after buying an additional 335 shares during the last quarter. 61.32% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Otter Tail Trading Up 1.1%

NASDAQ OTTR opened at $76.32 on Thursday. The company has a quick ratio of 2.03, a current ratio of 2.62 and a debt-to-equity ratio of 0.58. Otter Tail Corporation has a twelve month low of $71.66 and a twelve month high of $100.84. The firm has a market capitalization of $3.20 billion, a PE ratio of 10.87 and a beta of 0.55. The stock’s 50 day moving average is $78.03 and its 200 day moving average is $78.23.

Otter Tail (NASDAQ:OTTR) last released its quarterly earnings results on Monday, May 5th. The utilities provider reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.53 by $0.09. Otter Tail had a return on equity of 17.95% and a net margin of 22.37%. The company had revenue of $337.35 million for the quarter, compared to analyst estimates of $349.70 million. During the same period in the previous year, the company posted $1.77 earnings per share. The firm’s revenue was down 2.8% on a year-over-year basis. Research analysts forecast that Otter Tail Corporation will post 5.88 earnings per share for the current fiscal year.

Otter Tail Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Thursday, May 15th were paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend was Thursday, May 15th. Otter Tail’s payout ratio is 29.91%.

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.