Otter Tail Co. (NASDAQ:OTTR) Shares Bought by State Street Corp

State Street Corp raised its holdings in Otter Tail Co. (NASDAQ:OTTR - Free Report) by 1.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,598,531 shares of the utilities provider's stock after purchasing an additional 18,109 shares during the quarter. State Street Corp owned about 3.82% of Otter Tail worth $124,941,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Hoese & Co LLP acquired a new position in Otter Tail in the 3rd quarter valued at about $39,000. Allworth Financial LP raised its stake in shares of Otter Tail by 132.8% during the third quarter. Allworth Financial LP now owns 547 shares of the utilities provider's stock worth $43,000 after purchasing an additional 312 shares during the last quarter. Quarry LP lifted its holdings in shares of Otter Tail by 1,811.4% during the second quarter. Quarry LP now owns 669 shares of the utilities provider's stock worth $59,000 after purchasing an additional 634 shares during the period. KBC Group NV grew its position in Otter Tail by 27.9% in the 3rd quarter. KBC Group NV now owns 1,248 shares of the utilities provider's stock valued at $98,000 after buying an additional 272 shares during the last quarter. Finally, Abound Wealth Management increased its stake in Otter Tail by 28,725.0% in the 2nd quarter. Abound Wealth Management now owns 1,153 shares of the utilities provider's stock valued at $101,000 after buying an additional 1,149 shares during the period. 61.32% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently issued reports on OTTR shares. StockNews.com raised shares of Otter Tail from a "sell" rating to a "hold" rating in a report on Thursday, November 14th. 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.

Otter Tail Price Performance

Shares of NASDAQ:OTTR traded down $0.72 during trading on Friday, hitting $75.88. 202,099 shares of the stock were exchanged, compared to its average volume of 231,727. The company has a fifty day moving average price of $79.15 and a two-hundred day moving average price of $83.85. The company has a market cap of $3.17 billion, a PE ratio of 10.48 and a beta of 0.54. Otter Tail Co. has a 12-month low of $73.43 and a 12-month high of $100.84. The company has a current ratio of 2.17, a quick ratio of 1.66 and a debt-to-equity ratio of 0.58.

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

Otter Tail Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th were issued a $0.468 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.87 dividend on an annualized basis and a dividend yield of 2.47%. Otter Tail's dividend payout ratio (DPR) is presently 25.83%.

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.