Phocas Financial Corp. Has $7.99 Million Position in Otter Tail Co. (NASDAQ:OTTR)

Phocas Financial Corp. trimmed its holdings in shares of Otter Tail Co. (NASDAQ:OTTR) by 5.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 102,281 shares of the utilities provider’s stock after selling 6,256 shares during the quarter. Phocas Financial Corp. owned about 0.24% of Otter Tail worth $7,994,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Atticus Wealth Management LLC acquired a new position in Otter Tail during the second quarter valued at approximately $33,000. Hoese & Co LLP bought a new position in Otter Tail in the 3rd quarter worth $39,000. Allworth Financial LP boosted its holdings in Otter Tail by 132.8% during the third quarter. Allworth Financial LP now owns 547 shares of the utilities provider’s stock valued at $43,000 after acquiring an additional 312 shares during the period. GAMMA Investing LLC increased its stake in shares of 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 during the period. Finally, Quarry LP increased its position in Otter Tail by 1,811.4% in the 2nd quarter. Quarry LP now owns 669 shares of the utilities provider’s stock worth $59,000 after buying an additional 634 shares during the period. Institutional investors and hedge funds own 61.32% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on OTTR. StockNews.com raised shares of Otter Tail from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Siebert Williams Shank raised Otter Tail from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 6th.

Otter Tail Trading Down 0.4 %

Shares of Otter Tail stock opened at $80.09 on Tuesday. The company’s fifty day moving average price is $78.61 and its two-hundred day moving average price is $85.45. The firm has a market capitalization of $3.35 billion, a PE ratio of 11.06 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 debt-to-equity ratio of 0.58, a current ratio of 2.17 and a quick ratio of 1.66.

Otter Tail (NASDAQ:OTTR) last posted its quarterly earnings results on Monday, November 4th. The utilities provider reported $2.03 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $362.20 million. During the same quarter in the prior year, the business posted $2.19 earnings per share. On average, analysts expect that Otter Tail Co. will post 7.01 EPS for the current year.

Otter Tail Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th will be paid a $0.468 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.87 annualized dividend and a dividend yield of 2.34%. Otter Tail’s dividend payout ratio is presently 25.83%.

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.