Connor Clark & Lunn Investment Management Ltd. Grows Holdings in Otter Tail Co. (NASDAQ:OTTR)

Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Otter Tail Co. (NASDAQ:OTTR) by 11.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 23,155 shares of the utilities provider’s stock after purchasing an additional 2,446 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Otter Tail were worth $1,710,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Avantax Advisory Services Inc. boosted its stake in shares of Otter Tail by 23.0% in the fourth quarter. Avantax Advisory Services Inc. now owns 6,736 shares of the utilities provider’s stock worth $497,000 after acquiring an additional 1,261 shares during the period. Edgestream Partners L.P. boosted its stake in Otter Tail by 7.7% in the 4th quarter. Edgestream Partners L.P. now owns 83,370 shares of the utilities provider’s stock worth $6,156,000 after purchasing an additional 5,926 shares during the period. Raymond James Financial Inc. bought a new position in Otter Tail in the 4th quarter worth approximately $2,672,000. Proficio Capital Partners LLC purchased a new stake in Otter Tail during the 4th quarter valued at approximately $1,167,000. Finally, Victory Capital Management Inc. raised its position in shares of Otter Tail by 61.1% during the fourth quarter. Victory Capital Management Inc. now owns 115,211 shares of the utilities provider’s stock valued at $8,507,000 after buying an additional 43,693 shares during the last quarter. 61.32% of the stock is currently owned by institutional investors.

Otter Tail Price Performance

Shares of NASDAQ:OTTR opened at $83.38 on Thursday. The firm has a market cap of $3.49 billion, a price-to-earnings ratio of 11.63 and a beta of 0.53. The firm has a fifty day moving average price of $79.37 and a 200 day moving average price of $78.56. Otter Tail Co. has a fifty-two week low of $71.66 and a fifty-two week high of $100.84. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.66 and a current ratio of 2.03.

Otter Tail (NASDAQ:OTTR) last released its quarterly earnings data on Monday, February 17th. The utilities provider reported $1.30 EPS for the quarter, beating the consensus estimate of $1.26 by $0.04. Otter Tail had a net margin of 22.67% and a return on equity of 18.96%. The business had revenue of $303.11 million during the quarter, compared to the consensus estimate of $314.75 million. As a group, sell-side analysts expect that Otter Tail Co. will post 5.88 earnings per share for the current fiscal year.

Otter Tail Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were paid a $0.525 dividend. This is an increase from Otter Tail’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.10 dividend on an annualized basis and a 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.