Franklin Resources Inc. Lowers Stock Position in Otter Tail Co. (NASDAQ:OTTR)

Franklin Resources Inc. cut its holdings in shares of Otter Tail Co. (NASDAQ:OTTR - Free Report) by 21.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 27,255 shares of the utilities provider's stock after selling 7,292 shares during the period. Franklin Resources Inc. owned approximately 0.07% of Otter Tail worth $2,013,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Asset Planning Inc acquired a new position in shares of Otter Tail during the 4th quarter worth approximately $37,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Otter Tail in the third quarter valued at about $39,000. Crews Bank & Trust purchased a new stake in shares of Otter Tail during the fourth quarter worth about $81,000. New Age Alpha Advisors LLC acquired a new position in shares of Otter Tail during the 4th quarter worth about $94,000. Finally, Nisa Investment Advisors LLC lifted its stake in Otter Tail by 28.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,502 shares of the utilities provider's stock valued at $111,000 after buying an additional 333 shares in the last quarter. Institutional investors and hedge funds own 61.32% of the company's stock.

Otter Tail Price Performance

NASDAQ:OTTR traded up $0.43 during trading hours on Friday, hitting $78.96. 227,760 shares of the stock were exchanged, compared to its average volume of 236,062. The company has a current ratio of 2.03, a quick ratio of 1.66 and a debt-to-equity ratio of 0.57. The firm's fifty day moving average price is $80.07 and its 200 day moving average price is $78.61. The company has a market cap of $3.31 billion, a P/E ratio of 11.01 and a beta of 0.49. Otter Tail Co. has a 52-week low of $71.66 and a 52-week high of $100.84.

Otter Tail (NASDAQ:OTTR - Get Free Report) last issued its earnings results on Monday, February 17th. The utilities provider reported $1.30 EPS for the quarter, beating analysts' consensus estimates of $1.26 by $0.04. The business had revenue of $303.11 million during the quarter, compared to analysts' expectations of $314.75 million. Otter Tail had a net margin of 22.67% and a return on equity of 18.96%. As a group, equities research analysts anticipate that Otter Tail Co. will post 5.88 EPS for the current fiscal year.

Otter Tail Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Friday, February 14th were given a $0.525 dividend. The ex-dividend date of this dividend was Friday, February 14th. This is a positive change from Otter Tail's previous quarterly dividend of $0.47. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.66%. Otter Tail's dividend payout ratio is 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.