Cynosure Group LLC Grows Stock Holdings in Otter Tail Co. (NASDAQ:OTTR)

Cynosure Group LLC increased its holdings in shares of Otter Tail Co. (NASDAQ:OTTR) by 111.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,151 shares of the utilities provider’s stock after purchasing an additional 4,829 shares during the period. Cynosure Group LLC’s holdings in Otter Tail were worth $715,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Bank & Trust Co purchased a new position in shares of Otter Tail during the 2nd quarter valued at about $11,129,000. International Assets Investment Management LLC grew its holdings in Otter Tail by 3,339.9% during the third quarter. International Assets Investment Management LLC now owns 76,434 shares of the utilities provider’s stock worth $5,974,000 after acquiring an additional 74,212 shares during the period. Edgestream Partners L.P. raised its position in Otter Tail by 2,055.2% during the second quarter. Edgestream Partners L.P. now owns 67,695 shares of the utilities provider’s stock valued at $5,929,000 after acquiring an additional 64,554 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new position in Otter Tail in the third quarter valued at approximately $2,947,000. Finally, Victory Capital Management Inc. boosted its position in Otter Tail by 100.1% in the 3rd quarter. Victory Capital Management Inc. now owns 71,518 shares of the utilities provider’s stock worth $5,590,000 after purchasing an additional 35,783 shares in the last quarter. Hedge funds and other institutional investors own 61.32% of the company’s stock.

Analyst Upgrades and Downgrades

OTTR has been the subject of several recent research reports. Siebert Williams Shank raised shares of Otter Tail from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 6th. StockNews.com upgraded shares of Otter Tail from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th.

Otter Tail Stock Performance

Shares of OTTR stock opened at $80.88 on Thursday. The company has a current ratio of 2.17, a quick ratio of 1.66 and a debt-to-equity ratio of 0.58. Otter Tail Co. has a 12-month low of $73.43 and a 12-month high of $100.84. The business’s 50 day moving average is $79.02 and its two-hundred day moving average is $84.93. The company has a market capitalization of $3.38 billion, a P/E ratio of 11.17 and a beta of 0.52.

Otter Tail (NASDAQ:OTTR) last announced its earnings results on Monday, November 4th. The utilities provider reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.97 by $0.06. The firm had revenue of $338.03 million for the quarter, compared to analyst estimates of $362.20 million. Otter Tail had a return on equity of 19.84% and a net margin of 22.70%. During the same quarter last year, the firm posted $2.19 EPS. Analysts expect that Otter Tail Co. will post 7.01 EPS for the current fiscal year.

Otter Tail Dividend Announcement

The business 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 dividend of $0.468 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.87 dividend on an annualized basis and a dividend yield of 2.31%. Otter Tail’s dividend payout ratio is currently 25.83%.

Otter Tail Company 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.