Zurcher Kantonalbank Zurich Cantonalbank Has $715,000 Stock Position in Otter Tail Co. (NASDAQ:OTTR)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Otter Tail Co. (NASDAQ:OTTR) by 4.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,409 shares of the utilities provider’s stock after purchasing an additional 358 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Otter Tail were worth $715,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC grew its holdings in Otter Tail by 8,231.5% during the 4th quarter. International Assets Investment Management LLC now owns 187,958 shares of the utilities provider’s stock worth $15,971,000 after acquiring an additional 185,702 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its holdings in Otter Tail by 32.0% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 545,488 shares of the utilities provider’s stock worth $41,413,000 after acquiring an additional 132,162 shares during the last quarter. Rhumbline Advisers grew its holdings in Otter Tail by 10.7% during the 3rd quarter. Rhumbline Advisers now owns 116,001 shares of the utilities provider’s stock worth $8,807,000 after acquiring an additional 11,173 shares during the last quarter. Jump Financial LLC bought a new stake in Otter Tail during the 3rd quarter worth about $698,000. Finally, QRG Capital Management Inc. bought a new stake in Otter Tail during the 3rd quarter worth about $456,000. Institutional investors and hedge funds own 61.32% of the company’s stock.

Otter Tail Stock Down 0.8 %

Shares of NASDAQ:OTTR opened at $85.36 on Wednesday. Otter Tail Co. has a one year low of $68.96 and a one year high of $99.49. The company has a 50 day moving average of $84.65 and a 200-day moving average of $83.00. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.84 and a quick ratio of 1.36. The stock has a market cap of $3.56 billion, a price-to-earnings ratio of 12.19 and a beta of 0.56.

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

Otter Tail Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Thursday, February 15th were given a dividend of $0.468 per share. This is a boost from Otter Tail’s previous quarterly dividend of $0.44. The ex-dividend date was Wednesday, February 14th. This represents a $1.87 annualized dividend and a dividend yield of 2.19%. Otter Tail’s payout ratio is currently 26.71%.

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.