State Street Corp increased its position in Otter Tail Corporation (NASDAQ:OTTR) by 5.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 809,030 shares of the utilities provider’s stock after purchasing an additional 38,942 shares during the quarter. State Street Corp owned approximately 2.05% of Otter Tail Corporation worth $32,041,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Stifel Financial Corp acquired a new stake in Otter Tail Corporation in the second quarter worth about $8,762,000. Voya Investment Management LLC increased its position in Otter Tail Corporation by 7.3% in the second quarter. Voya Investment Management LLC now owns 19,098 shares of the utilities provider’s stock worth $756,000 after purchasing an additional 1,300 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Otter Tail Corporation by 0.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,125,136 shares of the utilities provider’s stock worth $44,556,000 after buying an additional 5,334 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Otter Tail Corporation by 29.7% during the second quarter. Renaissance Technologies LLC now owns 555,510 shares of the utilities provider’s stock worth $21,998,000 after buying an additional 127,110 shares during the last quarter. Finally, Advisor Group Inc. boosted its holdings in Otter Tail Corporation by 5.3% during the second quarter. Advisor Group Inc. now owns 7,879 shares of the utilities provider’s stock worth $312,000 after buying an additional 400 shares during the last quarter. Hedge funds and other institutional investors own 40.48% of the company’s stock.

OTTR has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Otter Tail Corporation from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a report on Friday, September 15th. KeyCorp restated a “hold” rating on shares of Otter Tail Corporation in a report on Friday, October 20th. Finally, BidaskClub cut Otter Tail Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $44.67.

In other news, CFO Kevin G. Moug sold 1,500 shares of Otter Tail Corporation stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $41.75, for a total transaction of $62,625.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.40% of the company’s stock.

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Otter Tail Corporation (NASDAQ:OTTR) opened at $45.80 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.56 and a debt-to-equity ratio of 0.71. Otter Tail Corporation has a 1-year low of $33.45 and a 1-year high of $47.45. The stock has a market capitalization of $1,815.69, a PE ratio of 25.50 and a beta of 0.81.

Otter Tail Corporation (NASDAQ:OTTR) last issued its earnings results on Wednesday, November 1st. The utilities provider reported $0.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.06. Otter Tail Corporation had a return on equity of 10.52% and a net margin of 8.53%. The firm had revenue of $216.50 million for the quarter, compared to analysts’ expectations of $201.70 million. During the same quarter last year, the business earned $0.37 earnings per share. The company’s revenue was up 9.8% compared to the same quarter last year. sell-side analysts expect that Otter Tail Corporation will post 1.78 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, December 9th. Stockholders of record on Wednesday, November 15th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 2.79%. The ex-dividend date is Tuesday, November 14th. Otter Tail Corporation’s dividend payout ratio (DPR) is presently 71.11%.

Otter Tail Corporation Company Profile

Otter Tail Corporation is a holding company. The Company operates through three segments: Electric, Manufacturing and Plastics. The Electric segment includes the production, transmission, distribution and sale of electric energy in Minnesota, North Dakota and South Dakota by Otter Tail Power Company (OTP).

Institutional Ownership by Quarter for Otter Tail Corporation (NASDAQ:OTTR)

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