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

Franklin Resources Inc. raised its stake in Otter Tail Co. (NASDAQ:OTTR) by 5.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,547 shares of the utilities provider’s stock after buying an additional 1,804 shares during the period. Franklin Resources Inc. owned about 0.08% of Otter Tail worth $2,714,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Caisse DE Depot ET Placement DU Quebec purchased a new stake in shares of Otter Tail in the third quarter valued at approximately $6,484,000. International Assets Investment Management LLC boosted its stake in shares of Otter Tail by 3,339.9% during the third quarter. International Assets Investment Management LLC now owns 76,434 shares of the utilities provider’s stock valued at $5,974,000 after purchasing an additional 74,212 shares in the last quarter. Edgestream Partners L.P. raised its stake in Otter Tail by 2,055.2% in the second quarter. Edgestream Partners L.P. now owns 67,695 shares of the utilities provider’s stock worth $5,929,000 after buying an additional 64,554 shares in the last quarter. Barclays PLC raised its position in shares of Otter Tail by 359.8% in the 3rd quarter. Barclays PLC now owns 70,553 shares of the utilities provider’s stock worth $5,514,000 after acquiring an additional 55,210 shares in the last quarter. Finally, Segall Bryant & Hamill LLC purchased a new stake in shares of Otter Tail during the 3rd quarter worth $2,947,000. 61.32% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

OTTR has been the topic of several research analyst reports. Siebert Williams Shank upgraded 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 report on Thursday, November 14th.

Otter Tail Price Performance

Shares of NASDAQ:OTTR opened at $75.12 on Thursday. 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 Co. has a twelve month low of $73.26 and a twelve month high of $100.84. The company’s 50 day moving average is $78.95 and its 200 day moving average is $83.14. The company has a market cap of $3.14 billion, a PE ratio of 10.38 and a beta of 0.54.

Otter Tail (NASDAQ:OTTR) last issued its earnings results 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 firm had revenue of $338.03 million during the quarter, compared to analysts’ expectations of $362.20 million. Otter Tail had a net margin of 22.70% and a return on equity of 19.84%. During the same quarter last year, the company posted $2.19 earnings per share. On average, sell-side analysts forecast that Otter Tail Co. will post 7.13 EPS for the current year.

Otter Tail Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 15th were issued a dividend of $0.468 per share. This represents a $1.87 annualized dividend and a yield of 2.49%. The ex-dividend date was Friday, November 15th. Otter Tail’s dividend payout ratio (DPR) is 25.83%.

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.