MML Investors Services LLC Purchases 321 Shares of Otter Tail Co. (NASDAQ:OTTR)

MML Investors Services LLC raised its position in shares of Otter Tail Co. (NASDAQ:OTTR) by 6.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,186 shares of the utilities provider’s stock after purchasing an additional 321 shares during the quarter. MML Investors Services LLC’s holdings in Otter Tail were worth $405,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in OTTR. Hoese & Co LLP bought a new stake in Otter Tail during the third quarter valued at approximately $39,000. Allworth Financial LP increased its stake in shares of Otter Tail by 132.8% in the 3rd quarter. Allworth Financial LP now owns 547 shares of the utilities provider’s stock worth $43,000 after purchasing an additional 312 shares in the last quarter. Quarry LP raised its holdings in Otter Tail by 1,811.4% in the 2nd 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. Abound Wealth Management lifted its position in 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 purchasing an additional 1,149 shares in the last quarter. Finally, KBC Group NV grew its holdings in Otter Tail by 27.9% during the third quarter. KBC Group NV now owns 1,248 shares of the utilities provider’s stock valued at $98,000 after purchasing an additional 272 shares during the period. Hedge funds and other institutional investors own 61.32% of the company’s stock.

Otter Tail Trading Down 0.9 %

Otter Tail stock opened at $74.53 on Tuesday. Otter Tail Co. has a 1 year low of $73.26 and a 1 year high of $100.84. The firm’s 50 day moving average price is $79.02 and its 200-day moving average price is $83.23. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.17 and a quick ratio of 1.66. The stock has a market cap of $3.12 billion, a P/E ratio of 10.29 and a beta of 0.54.

Otter Tail (NASDAQ:OTTR) last announced its quarterly earnings results on Monday, November 4th. The utilities provider reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $362.20 million. During the same period in the previous year, the firm posted $2.19 EPS. On average, equities analysts predict that Otter Tail Co. will post 7.13 earnings per share for the current fiscal year.

Otter Tail Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th were paid a $0.468 dividend. This represents a $1.87 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date of this dividend was Friday, November 15th. Otter Tail’s payout ratio is 25.83%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. StockNews.com raised Otter Tail from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th. Siebert Williams Shank upgraded shares of Otter Tail from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 6th.

About Otter Tail

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.