Segall Bryant & Hamill LLC Invests $2.95 Million in Otter Tail Co. (NASDAQ:OTTR)

Segall Bryant & Hamill LLC purchased a new stake in shares of Otter Tail Co. (NASDAQ:OTTR) in the 3rd quarter, Holdings Channel reports. The institutional investor purchased 37,704 shares of the utilities provider’s stock, valued at approximately $2,947,000.

Other large investors have also recently made changes to their positions in the company. Creative Planning lifted its position in shares of Otter Tail by 2.2% in the second quarter. Creative Planning now owns 6,281 shares of the utilities provider’s stock valued at $550,000 after acquiring an additional 137 shares in the last quarter. Foster & Motley Inc. increased its holdings in Otter Tail by 1.5% in the 2nd quarter. Foster & Motley Inc. now owns 9,855 shares of the utilities provider’s stock valued at $863,000 after acquiring an additional 149 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Otter Tail by 46.3% during the 2nd quarter. GAMMA Investing LLC now owns 657 shares of the utilities provider’s stock valued at $58,000 after purchasing an additional 208 shares during the last quarter. Arizona State Retirement System grew its position in shares of Otter Tail by 2.0% during the second quarter. Arizona State Retirement System now owns 10,525 shares of the utilities provider’s stock valued at $922,000 after purchasing an additional 208 shares in the last quarter. Finally, Los Angeles Capital Management LLC increased its holdings in shares of Otter Tail by 1.3% in the second quarter. Los Angeles Capital Management LLC now owns 21,091 shares of the utilities provider’s stock worth $1,847,000 after purchasing an additional 265 shares during the last quarter. 61.32% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Otter Tail Stock Performance

Otter Tail stock opened at $80.78 on Friday. The company has a quick ratio of 1.66, a current ratio of 2.17 and a debt-to-equity ratio of 0.58. Otter Tail Co. has a twelve month low of $73.43 and a twelve month high of $100.84. The company’s 50-day moving average price is $78.88 and its 200-day moving average price is $85.27. The company has a market cap of $3.38 billion, a PE ratio of 11.16 and a beta of 0.52.

Otter Tail (NASDAQ:OTTR) last announced its earnings results on Monday, November 4th. The utilities provider reported $2.03 EPS for the quarter, topping analysts’ consensus estimates of $1.97 by $0.06. The firm had revenue of $338.03 million during the quarter, compared to analysts’ expectations of $362.20 million. Otter Tail had a return on equity of 19.84% and a net margin of 22.70%. During the same quarter in the previous year, the business earned $2.19 EPS. On average, equities research analysts forecast that Otter Tail Co. will post 7.01 EPS for the current fiscal year.

Otter Tail Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be given a dividend of $0.468 per share. This represents a $1.87 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date is Friday, November 15th. Otter Tail’s dividend payout ratio (DPR) is 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.