Buck Wealth Strategies LLC Makes New Investment in Otter Tail Co. (NASDAQ:OTTR)

Buck Wealth Strategies LLC acquired a new stake in Otter Tail Co. (NASDAQ:OTTR) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 53,929 shares of the utilities provider’s stock, valued at approximately $3,982,000. Buck Wealth Strategies LLC owned about 0.13% of Otter Tail at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the company. XTX Topco Ltd acquired a new position in Otter Tail in the 3rd quarter valued at $589,000. GSA Capital Partners LLP grew its position in shares of Otter Tail by 285.1% in the third quarter. GSA Capital Partners LLP now owns 19,030 shares of the utilities provider’s stock valued at $1,487,000 after purchasing an additional 14,089 shares during the period. Intech Investment Management LLC acquired a new position in Otter Tail in the third quarter valued at $683,000. Stifel Financial Corp purchased a new position in Otter Tail during the third quarter worth about $238,000. Finally, Barclays PLC boosted its stake in Otter Tail by 359.8% in the 3rd quarter. Barclays PLC now owns 70,553 shares of the utilities provider’s stock worth $5,514,000 after buying an additional 55,210 shares during the last quarter. Hedge funds and other institutional investors own 61.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. 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. StockNews.com raised shares of Otter Tail from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th.

Otter Tail Price Performance

OTTR stock opened at $78.88 on Thursday. The stock has a 50-day moving average price of $76.73 and a two-hundred day moving average price of $80.71. The company has a market cap of $3.30 billion, a PE ratio of 10.90 and a beta of 0.57. The company has a current ratio of 2.17, a quick ratio of 1.66 and a debt-to-equity ratio of 0.58. Otter Tail Co. has a 12-month low of $71.66 and a 12-month high of $100.84.

Otter Tail (NASDAQ:OTTR) last posted its quarterly earnings results on Monday, November 4th. The utilities provider reported $2.03 EPS for the quarter, beating the consensus estimate of $1.97 by $0.06. Otter Tail had a net margin of 22.70% and a return on equity of 19.84%. The firm had revenue of $338.03 million for the quarter, compared to analyst estimates of $362.20 million. During the same quarter last year, the firm posted $2.19 earnings per share. As a group, research analysts predict that Otter Tail Co. will post 7.13 EPS for the current year.

Otter Tail Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Friday, February 14th will be issued a dividend of $0.525 per share. This is a positive change from Otter Tail’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.10 annualized dividend and a dividend yield of 2.66%. Otter Tail’s payout ratio is presently 25.83%.

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.