Dec. 01--One way to add wealth to Fergus Falls is to shop local.
Another way is through natural resources, such as farming, mining or tourism.
Yet another way is to bring money into the community through investments, and with the stock price of Otter Tail Corp. going up, it is bringing some green to people invested in the Fergus Falls-based company, said financial adviser Larry Dorn, whose office is right across the street from Otter Tail Corp and subsidiary Otter Tail Power Co.
"There is a lot of that stock in the area here, and there are a lot of smiling faces right now, I am sure," Dorn said.
The 52-week high for Otter Tail Corp. was set Tuesday, at $39.75. The company is listed on the Nasdaq as OTTR. The stock price hasn't been this high since 2008, when the company climbed to $45.09 in August but fell to $16.05 by November that volatile year.
November of this year was a surprise month, according to many investment news outlets. The Dow Jones was up 5.4 percent, its second best monthly performance of 2016 and its second best November since 2009. The S&P 500 was up 3.4 percent in November, and the Nasdaq up 2.6.
And December usually is a strong month for stock markets.
"We've had a nice market bull run, which helps equities in general," Dorn said.
He said Otter Tail pays a nice dividend, which attract investors.
"We've always been optimistic on Otter Tail as a long-term buy," he said.
He said with utilities not many shares get traded daily, so if an investor moves some stock, it can attract other buyers and sellers. And by "investor" that often can be an entire financial institution, rather than a wealthy person.
The recent announcement of Otter Tail Power to build a $250 million wind farm in North Dakota might have garnered some attention, or perhaps was good for the company's portfolio, but was more likely one factor along with other positive developments happening in the company coinciding with a good November market.
"At any rate, it has a nice tone to it," Dorn said.
Besides electricity, Otter Tail Corp. operates in manufacturing and plastics.
According to Morningstar, an independent investment research company, Otter Tail Corp. has a stock performance this year of 52.8 percent return on investment.
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