Texas Permanent School Fund Corp Sells 5,287 Shares of Otter Tail Co. (NASDAQ:OTTR)

Texas Permanent School Fund Corp trimmed its position in shares of Otter Tail Co. (NASDAQ:OTTR) by 14.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,218 shares of the utilities provider’s stock after selling 5,287 shares during the period. Texas Permanent School Fund Corp owned approximately 0.07% of Otter Tail worth $2,734,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC increased its position in shares of Otter Tail by 32.9% during the fourth quarter. Quadrant Capital Group LLC now owns 590 shares of the utilities provider’s stock valued at $50,000 after purchasing an additional 146 shares during the period. Foster & Motley Inc. increased its holdings in Otter Tail by 1.5% in the 2nd quarter. Foster & Motley Inc. now owns 9,855 shares of the utilities provider’s stock valued at $863,000 after buying an additional 149 shares during the period. Private Advisor Group LLC raised its stake in shares of Otter Tail by 4.1% in the 4th quarter. Private Advisor Group LLC now owns 5,214 shares of the utilities provider’s stock valued at $443,000 after buying an additional 204 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Otter Tail by 46.3% during the 2nd quarter. GAMMA Investing LLC now owns 657 shares of the utilities provider’s stock worth $58,000 after acquiring an additional 208 shares during the period. Finally, Arizona State Retirement System boosted its position in shares of Otter Tail by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 10,525 shares of the utilities provider’s stock valued at $922,000 after acquiring an additional 208 shares in the last quarter. Institutional investors and hedge funds own 61.32% of the company’s stock.

Otter Tail Stock Performance

NASDAQ OTTR opened at $79.10 on Tuesday. Otter Tail Co. has a twelve month low of $68.96 and a twelve month high of $100.84. The company has a quick ratio of 1.67, a current ratio of 2.27 and a debt-to-equity ratio of 0.60. The stock has a market cap of $3.31 billion, a P/E ratio of 10.87 and a beta of 0.53. The company’s 50-day simple moving average is $88.05 and its 200 day simple moving average is $87.13.

Otter Tail (NASDAQ:OTTR) last issued its earnings results on Monday, August 5th. The utilities provider reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.69 by $0.38. The business had revenue of $342.34 million during the quarter, compared to analysts’ expectations of $367.71 million. Otter Tail had a return on equity of 21.06% and a net margin of 22.84%. Otter Tail’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.95 EPS. As a group, research analysts forecast that Otter Tail Co. will post 6.92 earnings per share for the current fiscal year.

Otter Tail Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th were paid a $0.468 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.87 annualized dividend and a dividend yield of 2.37%. Otter Tail’s dividend payout ratio is presently 25.69%.

Insider Transactions at Otter Tail

In related news, VP Jennifer O. Smestad sold 4,000 shares of Otter Tail stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $88.74, for a total transaction of $354,960.00. Following the completion of the transaction, the vice president now directly owns 12,300 shares of the company’s stock, valued at approximately $1,091,502. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.30% of the stock is owned by insiders.

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.