New York State Teachers Retirement System Has $1.08 Million Position in Otter Tail Co. (NASDAQ:OTTR)

New York State Teachers Retirement System cut its position in Otter Tail Co. (NASDAQ:OTTR - Free Report) by 21.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,639 shares of the utilities provider's stock after selling 4,003 shares during the quarter. New York State Teachers Retirement System's holdings in Otter Tail were worth $1,081,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in OTTR. Asset Planning Inc bought a new position in Otter Tail in the fourth quarter valued at approximately $37,000. Entropy Technologies LP increased its stake in shares of Otter Tail by 15.2% in the 4th quarter. Entropy Technologies LP now owns 9,850 shares of the utilities provider's stock valued at $727,000 after purchasing an additional 1,300 shares during the last quarter. Buck Wealth Strategies LLC acquired a new position in shares of Otter Tail during the 4th quarter worth $3,982,000. Crews Bank & Trust bought a new stake in shares of Otter Tail during the 4th quarter worth $81,000. Finally, KBC Group NV boosted its stake in Otter Tail by 28.7% in the fourth quarter. KBC Group NV now owns 1,606 shares of the utilities provider's stock valued at $119,000 after buying an additional 358 shares in the last quarter. Institutional investors own 61.32% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. StockNews.com raised Otter Tail from a "sell" rating to a "hold" rating in a research note on Thursday, November 14th. Siebert Williams Shank upgraded shares of Otter Tail from a "strong sell" rating to a "hold" rating in a research report on Wednesday, November 6th.

Otter Tail Price Performance

Shares of OTTR traded up $0.13 during trading hours on Monday, reaching $81.56. The stock had a trading volume of 240,689 shares, compared to its average volume of 240,080. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.66 and a current ratio of 2.03. Otter Tail Co. has a 12 month low of $71.66 and a 12 month high of $100.84. The stock has a market capitalization of $3.41 billion, a PE ratio of 11.38 and a beta of 0.57. The company's 50-day moving average is $77.03 and its two-hundred day moving average is $79.27.

Otter Tail (NASDAQ:OTTR - Get Free Report) last posted its earnings results on Monday, February 17th. The utilities provider reported $1.30 EPS for the quarter, beating the consensus estimate of $1.26 by $0.04. Otter Tail had a return on equity of 18.96% and a net margin of 22.67%. The firm had revenue of $303.11 million during the quarter, compared to the consensus estimate of $314.75 million. Research analysts expect that Otter Tail Co. will post 5.88 EPS for the current year.

Otter Tail Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be given a $0.525 dividend. This is a boost from Otter Tail's previous quarterly dividend of $0.47. This represents a $2.10 annualized dividend and a yield of 2.57%. The ex-dividend date of this dividend is Friday, February 14th. Otter Tail's dividend payout ratio is 29.29%.

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.