Thrivent Financial for Lutherans Lowers Holdings in Otter Tail Co. (NASDAQ:OTTR)

Thrivent Financial for Lutherans reduced its position in shares of Otter Tail Co. (NASDAQ:OTTR) by 5.4% in the third quarter, Holdings Channel reports. The firm owned 32,847 shares of the utilities provider’s stock after selling 1,865 shares during the period. Thrivent Financial for Lutherans’ holdings in Otter Tail were worth $2,567,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in OTTR. Royce & Associates LP grew its position in Otter Tail by 11.7% during the third quarter. Royce & Associates LP now owns 25,804 shares of the utilities provider’s stock worth $2,017,000 after buying an additional 2,698 shares in the last quarter. KBC Group NV boosted its position in shares of Otter Tail by 27.9% during the 3rd quarter. KBC Group NV now owns 1,248 shares of the utilities provider’s stock valued at $98,000 after acquiring an additional 272 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Otter Tail by 100.1% during the third 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. Aptus Capital Advisors LLC increased its position in shares of Otter Tail by 15.6% in the third quarter. Aptus Capital Advisors LLC now owns 64,755 shares of the utilities provider’s stock worth $5,061,000 after purchasing an additional 8,744 shares during the last quarter. Finally, GSA Capital Partners LLP raised its stake in Otter Tail by 285.1% in the third quarter. GSA Capital Partners LLP now owns 19,030 shares of the utilities provider’s stock valued at $1,487,000 after purchasing an additional 14,089 shares in the last quarter. 61.32% of the stock is currently owned by hedge funds and other institutional investors.

Otter Tail Stock Performance

Shares of NASDAQ OTTR opened at $80.23 on Wednesday. The stock has a market cap of $3.36 billion, a price-to-earnings ratio of 11.32 and a beta of 0.52. 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 1-year low of $73.43 and a 1-year high of $100.84. The stock’s 50-day moving average is $78.98 and its 200 day moving average is $85.05.

Otter Tail (NASDAQ:OTTR) last issued its quarterly earnings results on Monday, November 4th. The utilities provider reported $2.03 EPS for the quarter, beating analysts’ consensus estimates of $1.97 by $0.06. The business had revenue of $338.03 million for the quarter, compared to analysts’ expectations of $362.20 million. Otter Tail had a net margin of 22.70% and a return on equity of 19.84%. During the same period last year, the business earned $2.19 earnings per share. On average, sell-side analysts anticipate that Otter Tail Co. will post 7.01 EPS for the current fiscal year.

Otter Tail Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be given a dividend of $0.468 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.87 annualized dividend and a yield of 2.33%. Otter Tail’s payout ratio is 25.83%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. 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.

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.