MML Investors Services LLC Raises Position in Otter Tail Co. (NASDAQ:OTTR)

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

Other institutional investors have also recently made changes to their positions in the company. Caisse DE Depot ET Placement DU Quebec purchased a new stake in Otter Tail in the third quarter worth about $6,484,000. International Assets Investment Management LLC grew its stake in shares of Otter Tail by 3,339.9% in the 3rd quarter. International Assets Investment Management LLC now owns 76,434 shares of the utilities provider’s stock worth $5,974,000 after buying an additional 74,212 shares during the last quarter. Edgestream Partners L.P. increased its position in Otter Tail by 2,055.2% during the 2nd quarter. Edgestream Partners L.P. now owns 67,695 shares of the utilities provider’s stock valued at $5,929,000 after buying an additional 64,554 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new position in Otter Tail during the third quarter valued at $2,947,000. Finally, Victory Capital Management Inc. boosted its holdings in Otter Tail by 100.1% in the third quarter. Victory Capital Management Inc. now owns 71,518 shares of the utilities provider’s stock worth $5,590,000 after acquiring an additional 35,783 shares in the last quarter. Institutional investors own 61.32% of the company’s stock.

Wall Street Analysts Forecast Growth

OTTR has been the subject of several analyst reports. StockNews.com upgraded 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 report on Wednesday, November 6th.

Otter Tail Stock Performance

OTTR stock opened at $74.53 on Tuesday. The stock has a market capitalization of $3.12 billion, a PE ratio of 10.29 and a beta of 0.54. The stock’s 50 day simple moving average is $79.02 and its 200 day simple moving average is $83.23. Otter Tail Co. has a 12-month low of $73.26 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) last released its quarterly earnings data on Monday, November 4th. The utilities provider reported $2.03 EPS for the quarter, topping the consensus estimate of $1.97 by $0.06. The company had revenue of $338.03 million during the quarter, compared to the consensus estimate of $362.20 million. Otter Tail had a return on equity of 19.84% and a net margin of 22.70%. During the same period last year, the company earned $2.19 EPS. As a group, research analysts forecast that Otter Tail Co. will post 7.13 earnings per share for the current fiscal 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 $0.468 dividend. This represents a $1.87 annualized dividend and a yield of 2.51%. The ex-dividend date of this dividend was Friday, November 15th. Otter Tail’s dividend payout ratio is currently 25.83%.

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.