Sei Investments Co. Grows Stock Holdings in Otter Tail Co. (NASDAQ:OTTR)

Sei Investments Co. lifted its holdings in Otter Tail Co. (NASDAQ:OTTR) by 4.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 7,709 shares of the utilities provider’s stock after buying an additional 318 shares during the period. Sei Investments Co.’s holdings in Otter Tail were worth $569,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Private Advisor Group LLC lifted its stake in shares of Otter Tail by 2.8% during the 4th quarter. Private Advisor Group LLC now owns 4,826 shares of the utilities provider’s stock valued at $356,000 after buying an additional 131 shares in the last quarter. Quantinno Capital Management LP lifted its holdings in shares of Otter Tail by 6.6% in the 3rd quarter. Quantinno Capital Management LP now owns 2,614 shares of the utilities provider’s stock worth $204,000 after buying an additional 162 shares during the period. Xponance Inc. lifted its position in shares of Otter Tail by 9.1% in the 4th quarter. Xponance Inc. now owns 2,946 shares of the utilities provider’s stock worth $218,000 after purchasing an additional 246 shares during the period. D.A. Davidson & CO. raised its position in shares of Otter Tail by 3.8% in the 4th quarter. D.A. Davidson & CO. now owns 6,958 shares of the utilities provider’s stock worth $514,000 after acquiring an additional 253 shares in the last quarter. Finally, MML Investors Services LLC grew its position in shares of Otter Tail by 6.6% in the 3rd quarter. MML Investors Services LLC now owns 5,186 shares of the utilities provider’s stock worth $405,000 after buying an additional 321 shares during the last quarter. 61.32% of the stock is currently owned by hedge funds and other institutional investors.

Otter Tail Stock Up 4.5 %

Otter Tail stock opened at $77.98 on Thursday. The business has a fifty day moving average price of $79.96 and a 200-day moving average price of $78.58. The stock has a market capitalization of $3.27 billion, a price-to-earnings ratio of 10.88 and a beta of 0.49. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.03 and a quick ratio of 1.66. Otter Tail Co. has a 1-year low of $71.66 and a 1-year high of $100.84.

Otter Tail (NASDAQ:OTTR) last posted its quarterly earnings results on Monday, February 17th. The utilities provider reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.04. Otter Tail had a net margin of 22.67% and a return on equity of 18.96%. The business had revenue of $303.11 million during the quarter, compared to analysts’ expectations of $314.75 million. Equities research analysts forecast that Otter Tail Co. will post 5.88 EPS for the current fiscal year.

Otter Tail Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 2.69%. The ex-dividend date was Friday, February 14th. This is an increase from Otter Tail’s previous quarterly dividend of $0.47. Otter Tail’s dividend payout ratio is 29.29%.

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.