Simplicity Solutions LLC Has $225,000 Position in Otter Tail Co. (NASDAQ:OTTR)

Posted by Defense World Staff on Apr 25th, 2023

Simplicity Solutions LLC lowered its position in Otter Tail Co. (NASDAQ:OTTR – Get Rating) by 5.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,825 shares of the utilities provider’s stock after selling 226 shares during the period. Simplicity Solutions LLC’s holdings in Otter Tail were worth $225,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in OTTR. Ronald Blue Trust Inc. increased its holdings in Otter Tail by 47.4% in the fourth quarter. Ronald Blue Trust Inc. now owns 538 shares of the utilities provider’s stock worth $33,000 after buying an additional 173 shares during the last quarter. Fiduciary Alliance LLC acquired a new position in Otter Tail in the fourth quarter worth approximately $51,000. Motco acquired a new position in Otter Tail in the third quarter worth approximately $55,000. Armstrong Advisory Group Inc. acquired a new position in Otter Tail in the fourth quarter worth approximately $59,000. Finally, Affiance Financial LLC acquired a new position in Otter Tail in the fourth quarter worth approximately $75,000. Institutional investors and hedge funds own 49.01% of the company’s stock.

Otter Tail Stock Down 0.6 %

Shares of Otter Tail stock opened at $73.53 on Tuesday. The stock has a market capitalization of $3.07 billion, a P/E ratio of 10.85 and a beta of 0.52. The company has a quick ratio of 1.29, a current ratio of 1.91 and a debt-to-equity ratio of 0.68. The stock has a 50 day moving average price of $70.71 and a two-hundred day moving average price of $64.11. Otter Tail Co. has a 12-month low of $52.60 and a 12-month high of $82.46.

Otter Tail (NASDAQ:OTTR – Get Rating) last announced its earnings results on Monday, February 13th. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.17. The firm had revenue of $301.41 million during the quarter, compared to analysts’ expectations of $324.80 million. Otter Tail had a return on equity of 24.90% and a net margin of 19.46%. Equities analysts expect that Otter Tail Co. will post 3.85 earnings per share for the current year.

Otter Tail Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Tuesday, February 14th were given a $0.438 dividend. This represents a $1.75 annualized dividend and a dividend yield of 2.38%. This is a boost from Otter Tail’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Monday, February 13th. Otter Tail’s dividend payout ratio is currently 25.81%.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on Otter Tail in a research report on Thursday, March 16th. They set a “hold” rating for the company.

Otter Tail Company Profile

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Otter Tail Corp. is a holding company engaged in the energy, infrastructure, and production businesses. It operates through the following segments: Electric, Manufacturing, and Plastics. The Electric segment is involved in the generation, purchase, transmission, distribution, and sale of electric energy in western Minnesota, eastern North Dakota, and northeastern South Dakota.