Independent Advisor Alliance Buys New Shares in Otter Tail Co. (NASDAQ:OTTR)

Independent Advisor Alliance bought a new stake in Otter Tail Co. (NASDAQ:OTTR) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 2,621 shares of the utilities provider’s stock, valued at approximately $223,000.

Several other institutional investors have also recently added to or reduced their stakes in OTTR. International Assets Investment Management LLC increased its stake in Otter Tail by 8,231.5% in the fourth quarter. International Assets Investment Management LLC now owns 187,958 shares of the utilities provider’s stock valued at $15,971,000 after purchasing an additional 185,702 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its position in Otter Tail by 32.0% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 545,488 shares of the utilities provider’s stock valued at $41,413,000 after acquiring an additional 132,162 shares during the period. Federated Hermes Inc. grew its position in Otter Tail by 82.8% during the fourth quarter. Federated Hermes Inc. now owns 143,231 shares of the utilities provider’s stock valued at $12,170,000 after acquiring an additional 64,876 shares during the period. OneAscent Financial Services LLC purchased a new stake in Otter Tail during the fourth quarter valued at about $3,127,000. Finally, Illinois Municipal Retirement Fund purchased a new stake in Otter Tail during the third quarter valued at about $1,890,000. 61.32% of the stock is currently owned by institutional investors and hedge funds.

Otter Tail Price Performance

OTTR stock opened at $91.36 on Thursday. The stock has a 50-day moving average price of $86.09 and a two-hundred day moving average price of $84.85. Otter Tail Co. has a 12-month low of $68.96 and a 12-month high of $99.49. The company has a current ratio of 2.92, a quick ratio of 2.21 and a debt-to-equity ratio of 0.63. The company has a market cap of $3.82 billion, a PE ratio of 12.55 and a beta of 0.56.

Otter Tail Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Wednesday, May 15th will be given a dividend of $0.468 per share. This represents a $1.87 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend is Tuesday, May 14th. Otter Tail’s dividend payout ratio (DPR) is presently 25.69%.

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.