Royce & Associates LP Purchases 2,698 Shares of Otter Tail Co. (NASDAQ:OTTR)

Royce & Associates LP boosted its holdings in shares of Otter Tail Co. (NASDAQ:OTTR) by 11.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,804 shares of the utilities provider’s stock after acquiring an additional 2,698 shares during the period. Royce & Associates LP owned about 0.06% of Otter Tail worth $2,017,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Janus Henderson Group PLC lifted its stake in shares of Otter Tail by 45.2% during the 1st quarter. Janus Henderson Group PLC now owns 29,765 shares of the utilities provider’s stock worth $2,572,000 after purchasing an additional 9,270 shares during the last quarter. Tidal Investments LLC lifted its position in shares of Otter Tail by 320.5% during the first quarter. Tidal Investments LLC now owns 16,879 shares of the utilities provider’s stock valued at $1,458,000 after buying an additional 12,865 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in shares of Otter Tail by 113.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 41,199 shares of the utilities provider’s stock valued at $3,560,000 after buying an additional 21,908 shares in the last quarter. Jane Street Group LLC grew its position in shares of Otter Tail by 57.2% in the 1st quarter. Jane Street Group LLC now owns 64,615 shares of the utilities provider’s stock worth $5,583,000 after buying an additional 23,514 shares during the last quarter. Finally, GSA Capital Partners LLP raised its stake in shares of Otter Tail by 285.1% during the 3rd quarter. GSA Capital Partners LLP now owns 19,030 shares of the utilities provider’s stock worth $1,487,000 after acquiring an additional 14,089 shares in the last quarter. Hedge funds and other institutional investors own 61.32% of the company’s stock.

Otter Tail Price Performance

Shares of OTTR stock opened at $79.99 on Wednesday. Otter Tail Co. has a fifty-two week low of $73.43 and a fifty-two week high of $100.84. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.66 and a current ratio of 2.17. The firm has a market capitalization of $3.35 billion, a price-to-earnings ratio of 11.05 and a beta of 0.52. The stock’s 50-day simple moving average is $78.65 and its 200-day simple moving average is $85.40.

Otter Tail (NASDAQ:OTTR) last released its earnings results on Monday, November 4th. The utilities provider reported $2.03 earnings per share for the quarter, topping the consensus estimate of $1.97 by $0.06. The company had revenue of $338.03 million for the quarter, compared to the consensus estimate 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 in the previous year, the firm earned $2.19 EPS. As a group, equities analysts forecast that Otter Tail Co. will post 7.01 earnings per share for the current fiscal year.

Otter Tail Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th will be given a dividend of $0.468 per share. The ex-dividend date is Friday, November 15th. This represents a $1.87 dividend on an annualized basis and a yield of 2.34%. Otter Tail’s dividend payout ratio is currently 25.83%.

Analysts Set New Price Targets

Several brokerages have weighed in on OTTR. StockNews.com upgraded shares of Otter Tail from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Siebert Williams Shank raised Otter Tail from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 6th.

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.