Northern Trust Corp Grows Stock Holdings in Otter Tail Co. (NASDAQ:OTTR)

Northern Trust Corp lifted its position in shares of Otter Tail Co. (NASDAQ:OTTR) by 15.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 545,618 shares of the utilities provider’s stock after purchasing an additional 71,601 shares during the period. Northern Trust Corp owned 1.30% of Otter Tail worth $40,288,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of OTTR. Asset Planning Inc bought a new stake in shares of Otter Tail in the 4th quarter worth approximately $37,000. Wilmington Savings Fund Society FSB purchased a new position in Otter Tail during the 3rd quarter valued at $39,000. Crews Bank & Trust bought a new position in Otter Tail in the 4th quarter worth $81,000. New Age Alpha Advisors LLC purchased a new stake in shares of Otter Tail in the 4th quarter worth about $94,000. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Otter Tail by 28.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,502 shares of the utilities provider’s stock valued at $111,000 after purchasing an additional 333 shares in the last quarter. 61.32% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Siebert Williams Shank upgraded shares of Otter Tail from a “hold” rating to a “buy” rating and raised their price objective for the stock from $82.00 to $83.00 in a report on Wednesday.

Otter Tail Stock Performance

Shares of Otter Tail stock opened at $76.74 on Friday. The business has a fifty day simple moving average of $79.51 and a two-hundred day simple moving average of $78.72. The firm has a market capitalization of $3.21 billion, a P/E ratio of 10.70 and a beta of 0.56. The company has a current ratio of 2.03, a quick ratio of 1.66 and a debt-to-equity ratio of 0.57. Otter Tail Co. has a 12 month low of $71.66 and a 12 month high of $100.84.

Otter Tail (NASDAQ:OTTR) last announced its quarterly earnings data 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. Otter Tail had a net margin of 22.67% and a return on equity of 18.96%. The business had revenue of $337.35 million for the quarter, compared to analysts’ expectations of $349.70 million. During the same quarter in the prior year, the company earned $1.77 earnings per share. The business’s revenue was down 2.8% compared to the same quarter last year. On average, equities analysts forecast that Otter Tail Co. will post 5.88 earnings per share for the current fiscal year.

Otter Tail Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Thursday, May 15th will be paid a $0.525 dividend. The ex-dividend date is Thursday, May 15th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.74%. Otter Tail’s dividend payout ratio is currently 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.