Advisors Asset Management Inc. Has $182,000 Stock Position in Otter Tail Co. (NASDAQ:OTTR)

Advisors Asset Management Inc. trimmed its position in Otter Tail Co. (NASDAQ:OTTRGet Rating) by 57.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,710 shares of the utilities provider’s stock after selling 3,720 shares during the quarter. Advisors Asset Management Inc.’s holdings in Otter Tail were worth $182,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in OTTR. Signaturefd LLC increased its position in Otter Tail by 65.8% in the first quarter. Signaturefd LLC now owns 731 shares of the utilities provider’s stock worth $46,000 after purchasing an additional 290 shares during the period. Envestnet Asset Management Inc. increased its position in Otter Tail by 89.8% in the first quarter. Envestnet Asset Management Inc. now owns 12,205 shares of the utilities provider’s stock worth $763,000 after purchasing an additional 5,773 shares during the period. Victory Capital Management Inc. increased its position in Otter Tail by 18.5% in the first quarter. Victory Capital Management Inc. now owns 258,964 shares of the utilities provider’s stock worth $15,010,000 after purchasing an additional 40,420 shares during the period. KBC Group NV increased its position in Otter Tail by 122.6% in the first quarter. KBC Group NV now owns 11,422 shares of the utilities provider’s stock worth $714,000 after purchasing an additional 6,291 shares during the period. Finally, State Board of Administration of Florida Retirement System increased its position in Otter Tail by 77.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 54,048 shares of the utilities provider’s stock worth $3,378,000 after purchasing an additional 23,606 shares during the period. 48.13% of the stock is currently owned by institutional investors and hedge funds.

Otter Tail Price Performance

Otter Tail stock opened at $56.66 on Tuesday. Otter Tail Co. has a 1 year low of $52.60 and a 1 year high of $82.46. The company has a current ratio of 1.90, a quick ratio of 1.30 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $2.36 billion, a P/E ratio of 8.08 and a beta of 0.54. The business has a 50-day moving average of $62.70 and a 200-day moving average of $67.12.

Otter Tail Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 9th. Stockholders of record on Tuesday, November 15th will be issued a dividend of $0.412 per share. This represents a $1.65 annualized dividend and a dividend yield of 2.91%. The ex-dividend date is Monday, November 14th. Otter Tail’s dividend payout ratio (DPR) is presently 23.54%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Siebert Williams Shank lowered Otter Tail from a “hold” rating to a “sell” rating and boosted their target price for the stock from $62.00 to $64.00 in a research report on Wednesday, August 3rd. StockNews.com lowered Otter Tail from a “buy” rating to a “hold” rating in a research report on Monday, October 31st. Finally, Maxim Group decreased their target price on Otter Tail from $95.00 to $75.00 in a research report on Wednesday, November 2nd.

About Otter Tail

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Otter Tail Corporation, together with its subsidiaries, engages in electric utility, manufacturing, and plastic pipe businesses in the United States. The company's 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, Inc markets.

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Institutional Ownership by Quarter for Otter Tail (NASDAQ:OTTR)

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