International Assets Investment Management LLC Purchases 185,702 Shares of Otter Tail Co. (NASDAQ:OTTR)

International Assets Investment Management LLC lifted its position in shares of Otter Tail Co. (NASDAQ:OTTR) by 8,231.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 187,958 shares of the utilities provider’s stock after buying an additional 185,702 shares during the quarter. International Assets Investment Management LLC owned about 0.45% of Otter Tail worth $15,971,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Arizona State Retirement System raised its position in shares of Otter Tail by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 10,688 shares of the utilities provider’s stock worth $811,000 after acquiring an additional 150 shares in the last quarter. Strs Ohio grew its stake in Otter Tail by 10.0% during the third quarter. Strs Ohio now owns 2,200 shares of the utilities provider’s stock worth $167,000 after purchasing an additional 200 shares during the period. Blue Trust Inc. increased its holdings in Otter Tail by 53.9% in the fourth quarter. Blue Trust Inc. now owns 1,034 shares of the utilities provider’s stock worth $88,000 after purchasing an additional 362 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in Otter Tail by 1.4% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 35,669 shares of the utilities provider’s stock valued at $2,708,000 after buying an additional 493 shares during the period. Finally, Csenge Advisory Group boosted its holdings in shares of Otter Tail by 9.6% during the 3rd quarter. Csenge Advisory Group now owns 7,082 shares of the utilities provider’s stock worth $538,000 after buying an additional 618 shares in the last quarter. Institutional investors own 61.32% of the company’s stock.

Otter Tail Stock Performance

NASDAQ:OTTR opened at $87.82 on Friday. The company has a quick ratio of 1.36, a current ratio of 1.84 and a debt-to-equity ratio of 0.57. Otter Tail Co. has a twelve month low of $68.96 and a twelve month high of $99.49. The company has a fifty day moving average of $84.67 and a 200-day moving average of $83.20. The firm has a market capitalization of $3.66 billion, a P/E ratio of 12.55 and a beta of 0.56.

Otter Tail (NASDAQ:OTTR) last posted its quarterly earnings results on Tuesday, February 13th. The utilities provider reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.03. The firm had revenue of $314.31 million during the quarter, compared to the consensus estimate of $300.60 million. Otter Tail had a net margin of 21.81% and a return on equity of 21.64%. During the same period in the previous year, the firm posted $1.00 earnings per share. As a group, sell-side analysts anticipate that Otter Tail Co. will post 5.28 EPS for the current year.

Otter Tail Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Thursday, February 15th were paid a $0.468 dividend. This represents a $1.87 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date of this dividend was Wednesday, February 14th. This is a boost from Otter Tail’s previous quarterly dividend of $0.44. Otter Tail’s dividend payout ratio (DPR) is 26.71%.

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.