GSA Capital Partners LLP Raises Stake in Otter Tail Co. (NASDAQ:OTTR)

GSA Capital Partners LLP increased its stake in Otter Tail Co. (NASDAQ:OTTR) by 285.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,030 shares of the utilities provider’s stock after buying an additional 14,089 shares during the period. GSA Capital Partners LLP’s holdings in Otter Tail were worth $1,487,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Atticus Wealth Management LLC bought a new position in Otter Tail in the 2nd quarter worth about $33,000. Hoese & Co LLP bought a new stake in shares of Otter Tail during the third quarter valued at approximately $39,000. Allworth Financial LP boosted its holdings in shares of Otter Tail by 132.8% in the third quarter. Allworth Financial LP now owns 547 shares of the utilities provider’s stock valued at $43,000 after purchasing an additional 312 shares during the period. GAMMA Investing LLC grew its stake in Otter Tail by 46.3% in the second quarter. GAMMA Investing LLC now owns 657 shares of the utilities provider’s stock worth $58,000 after purchasing an additional 208 shares in the last quarter. Finally, Quarry LP increased its holdings in Otter Tail by 1,811.4% during the 2nd quarter. Quarry LP now owns 669 shares of the utilities provider’s stock worth $59,000 after purchasing an additional 634 shares during the period. Hedge funds and other institutional investors own 61.32% of the company’s stock.

Otter Tail Stock Performance

Shares of OTTR stock opened at $80.31 on Thursday. The firm has a market cap of $3.36 billion, a price-to-earnings ratio of 11.09 and a beta of 0.52. Otter Tail Co. has a 52-week low of $73.43 and a 52-week high of $100.84. The company has a quick ratio of 1.66, a current ratio of 2.17 and a debt-to-equity ratio of 0.58. The company’s 50 day moving average is $78.52 and its 200 day moving average is $85.54.

Otter Tail (NASDAQ:OTTR) last announced its earnings results on Monday, November 4th. The utilities provider reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.97 by $0.06. The business had revenue of $338.03 million for 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 last year, the firm earned $2.19 EPS. On average, sell-side analysts anticipate that Otter Tail Co. will post 7.01 EPS for the current fiscal year.

Otter Tail Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be issued a $0.468 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.87 dividend on an annualized basis and a yield of 2.33%. Otter Tail’s dividend payout ratio is presently 25.83%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on OTTR shares. StockNews.com upgraded Otter Tail from a “sell” rating to a “hold” rating in a report on Thursday. Siebert Williams Shank raised shares of Otter Tail from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 6th.

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.