Trexquant Investment LP Sells 34,899 Shares of Otter Tail Co. (NASDAQ:OTTR)

Trexquant Investment LP decreased its position in Otter Tail Co. (NASDAQ:OTTR - Free Report) by 26.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 99,064 shares of the utilities provider's stock after selling 34,899 shares during the quarter. Trexquant Investment LP owned approximately 0.24% of Otter Tail worth $7,315,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Alliancebernstein L.P. increased its stake in Otter Tail by 2.5% in the 4th quarter. Alliancebernstein L.P. now owns 47,668 shares of the utilities provider's stock valued at $3,520,000 after buying an additional 1,140 shares during the last quarter. O Shaughnessy Asset Management LLC grew its holdings in shares of Otter Tail by 7.5% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 3,672 shares of the utilities provider's stock valued at $271,000 after acquiring an additional 256 shares in the last quarter. Pictet Asset Management Holding SA increased its position in shares of Otter Tail by 15.3% during the fourth quarter. Pictet Asset Management Holding SA now owns 7,211 shares of the utilities provider's stock valued at $532,000 after acquiring an additional 956 shares during the last quarter. New Age Alpha Advisors LLC bought a new stake in Otter Tail during the fourth quarter worth $94,000. Finally, JPMorgan Chase & Co. boosted its position in Otter Tail by 93.5% in the fourth quarter. JPMorgan Chase & Co. now owns 189,345 shares of the utilities provider's stock worth $13,981,000 after purchasing an additional 91,516 shares during the last quarter. Hedge funds and other institutional investors own 61.32% of the company's stock.

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Otter Tail Stock Performance

NASDAQ:OTTR traded up $3.36 during trading on Wednesday, reaching $77.98. The company's stock had a trading volume of 639,916 shares, compared to its average volume of 234,323. The firm has a market cap of $3.27 billion, a price-to-earnings ratio of 10.88 and a beta of 0.49. Otter Tail Co. has a 12 month low of $71.66 and a 12 month high of $100.84. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.66 and a current ratio of 2.03. The firm has a 50 day moving average of $79.96 and a 200-day moving average of $78.58.

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

Otter Tail Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Friday, February 14th were issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 2.69%. This is a positive change from Otter Tail's previous quarterly dividend of $0.47. The ex-dividend date of this dividend was Friday, February 14th. Otter Tail's dividend payout ratio is 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.