Otter Tail Co. (NASDAQ:OTTR) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas trimmed its holdings in Otter Tail Co. (NASDAQ:OTTR - Free Report) by 26.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,682 shares of the utilities provider's stock after selling 4,555 shares during the period. Teacher Retirement System of Texas' holdings in Otter Tail were worth $936,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Asset Planning Inc bought a new stake in shares of Otter Tail in the fourth quarter worth $37,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Otter Tail in the 3rd quarter worth about $39,000. Crews Bank & Trust acquired a new stake in shares of Otter Tail in the 4th quarter valued at about $81,000. Nisa Investment Advisors LLC lifted its position in shares of Otter Tail by 28.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,502 shares of the utilities provider's stock worth $111,000 after purchasing an additional 333 shares during the last quarter. Finally, KBC Group NV raised its stake in Otter Tail by 28.7% during 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. 61.32% of the stock is currently owned by hedge funds and other institutional investors.

Otter Tail Stock Performance

NASDAQ:OTTR traded up $0.46 during trading hours on Wednesday, reaching $81.76. 190,331 shares of the stock were exchanged, compared to its average volume of 229,190. The stock has a market capitalization of $3.42 billion, a P/E ratio of 11.40 and a beta of 0.53. The firm has a 50 day simple moving average of $80.08 and a 200-day simple moving average of $78.70. The company has a quick ratio of 1.66, a current ratio of 2.03 and a debt-to-equity ratio of 0.57. Otter Tail Co. has a 52 week low of $71.66 and a 52 week high of $100.84.

Remove Ads

Otter Tail (NASDAQ:OTTR - Get Free Report) last announced its quarterly earnings data on Monday, February 17th. The utilities provider reported $1.30 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts' expectations of $314.75 million. As a group, sell-side analysts forecast that Otter Tail Co. will post 5.88 earnings per share for the current fiscal year.

Otter Tail Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were given a dividend of $0.525 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $2.10 dividend on an annualized basis and a yield of 2.57%. This is a positive change from Otter Tail's previous quarterly dividend of $0.47. Otter Tail's payout ratio is currently 29.29%.

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.