Otter Tail Co. (NASDAQ:OTTR) Stock Position Lessened by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP decreased its holdings in Otter Tail Co. (NASDAQ:OTTR) by 81.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,043 shares of the utilities provider’s stock after selling 54,457 shares during the quarter. ExodusPoint Capital Management LP’s holdings in Otter Tail were worth $889,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. XTX Topco Ltd bought a new position in shares of Otter Tail in the third quarter worth $589,000. Stifel Financial Corp bought a new position in shares of Otter Tail in the third quarter worth $238,000. Assenagon Asset Management S.A. bought a new position in shares of Otter Tail in the fourth quarter worth $455,000. Barclays PLC grew its stake in shares of Otter Tail by 359.8% in the third quarter. Barclays PLC now owns 70,553 shares of the utilities provider’s stock worth $5,514,000 after purchasing an additional 55,210 shares in the last quarter. Finally, Private Advisor Group LLC grew its stake in shares of Otter Tail by 2.8% in the fourth quarter. Private Advisor Group LLC now owns 4,826 shares of the utilities provider’s stock worth $356,000 after purchasing an additional 131 shares in the last quarter. Institutional investors own 61.32% of the company’s stock.

Otter Tail Trading Down 0.6 %

Shares of Otter Tail stock opened at $77.52 on Friday. The company has a quick ratio of 1.66, a current ratio of 2.03 and a debt-to-equity ratio of 0.57. The firm has a market cap of $3.25 billion, a price-to-earnings ratio of 10.81 and a beta of 0.49. The business has a fifty day simple moving average of $79.99 and a 200-day simple moving average of $78.57. Otter Tail Co. has a fifty-two week low of $71.66 and a fifty-two week high of $100.84.

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

Otter Tail Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 2.71%. This is an increase from Otter Tail’s previous quarterly dividend of $0.47. The ex-dividend date was Friday, February 14th. Otter Tail’s dividend payout ratio is currently 29.29%.

Otter Tail 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.