Connor Clark & Lunn Investment Management Ltd. Purchases 2,446 Shares of Otter Tail Co. (NASDAQ:OTTR)

Connor Clark & Lunn Investment Management Ltd. increased its position in Otter Tail Co. (NASDAQ:OTTR) by 11.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,155 shares of the utilities provider’s stock after acquiring an additional 2,446 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.06% of Otter Tail worth $1,710,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. XTX Topco Ltd purchased a new position in shares of Otter Tail in the third quarter worth $589,000. Intech Investment Management LLC purchased a new position in shares of Otter Tail during the third quarter valued at approximately $683,000. Stifel Financial Corp bought a new position in Otter Tail during the third quarter valued at approximately $238,000. Assenagon Asset Management S.A. purchased a new stake in Otter Tail in the fourth quarter worth approximately $455,000. Finally, Barclays PLC grew its position in Otter Tail by 359.8% in the 3rd quarter. Barclays PLC now owns 70,553 shares of the utilities provider’s stock worth $5,514,000 after purchasing an additional 55,210 shares during the period. 61.32% of the stock is owned by institutional investors.

Otter Tail Price Performance

NASDAQ OTTR opened at $83.38 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.03 and a quick ratio of 1.66. Otter Tail Co. has a 1-year low of $71.66 and a 1-year high of $100.84. The stock has a market capitalization of $3.49 billion, a price-to-earnings ratio of 11.63 and a beta of 0.53. The business’s fifty day moving average price is $79.37 and its 200-day moving average price is $78.56.

Otter Tail (NASDAQ:OTTR) last announced its earnings results on Monday, February 17th. The utilities provider reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.04. The business had revenue of $303.11 million for the quarter, compared to analysts’ expectations of $314.75 million. Otter Tail had a return on equity of 18.96% and a net margin of 22.67%. On average, equities analysts predict that Otter Tail Co. will post 5.88 earnings per share for the current year.

Otter Tail Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were given a dividend of $0.525 per share. This is an increase from Otter Tail’s previous quarterly dividend of $0.47. The ex-dividend date was Friday, February 14th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.52%. Otter Tail’s payout ratio is presently 29.29%.

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.