Barclays PLC Raises Stock Position in Otter Tail Co. (NASDAQ:OTTR)

Barclays PLC grew its position in Otter Tail Co. (NASDAQ:OTTR - Free Report) by 359.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,553 shares of the utilities provider's stock after buying an additional 55,210 shares during the quarter. Barclays PLC owned 0.17% of Otter Tail worth $5,514,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Hoese & Co LLP purchased a new stake in shares of Otter Tail in the third quarter valued at about $39,000. Allworth Financial LP raised its holdings in shares of Otter Tail by 132.8% in the third quarter. Allworth Financial LP now owns 547 shares of the utilities provider's stock worth $43,000 after acquiring an additional 312 shares during the last quarter. Quarry LP lifted its position in shares of Otter Tail by 1,811.4% in the second quarter. Quarry LP now owns 669 shares of the utilities provider's stock valued at $59,000 after acquiring an additional 634 shares in the last quarter. Abound Wealth Management boosted its stake in shares of Otter Tail by 28,725.0% during the second quarter. Abound Wealth Management now owns 1,153 shares of the utilities provider's stock valued at $101,000 after acquiring an additional 1,149 shares during the last quarter. Finally, KBC Group NV increased its position in Otter Tail by 27.9% during the 3rd quarter. KBC Group NV now owns 1,248 shares of the utilities provider's stock worth $98,000 after purchasing an additional 272 shares in the last quarter. Institutional investors and hedge funds own 61.32% of the company's stock.

Otter Tail Trading Up 0.3 %

Shares of OTTR traded up $0.21 during mid-day trading on Friday, hitting $75.17. The company had a trading volume of 1,069,205 shares, compared to its average volume of 235,081. The business's 50-day simple moving average is $79.10 and its 200-day simple moving average is $83.38. The company has a quick ratio of 1.66, a current ratio of 2.17 and a debt-to-equity ratio of 0.58. Otter Tail Co. has a 1-year low of $73.26 and a 1-year high of $100.84. The stock has a market cap of $3.14 billion, a PE ratio of 10.38 and a beta of 0.54.

Otter Tail (NASDAQ:OTTR - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The utilities provider reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.97 by $0.06. Otter Tail had a net margin of 22.70% and a return on equity of 19.84%. The company had revenue of $338.03 million during the quarter, compared to analysts' expectations of $362.20 million. During the same period in the previous year, the company earned $2.19 EPS. Sell-side analysts forecast that Otter Tail Co. will post 7.13 earnings per share for the current year.

Otter Tail Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th were paid a $0.468 dividend. This represents a $1.87 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend was Friday, November 15th. Otter Tail's dividend payout ratio is currently 25.83%.

Analyst Ratings Changes

Several brokerages recently issued reports on OTTR. Siebert Williams Shank raised shares of Otter Tail from a "strong sell" rating to a "hold" rating in a research note on Wednesday, November 6th. StockNews.com raised Otter Tail from a "sell" rating to a "hold" rating in a research note on Thursday, November 14th.

Otter Tail 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.