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

New York State Teachers Retirement System decreased its position in shares of Otter Tail Co. (NASDAQ:OTTR) by 21.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & 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 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new position in Otter Tail during the 3rd quarter worth $39,000. Asset Planning Inc bought a new position in Otter Tail during the 4th quarter worth $37,000. Allworth Financial LP raised its position in Otter Tail by 132.8% during the 3rd quarter. Allworth Financial LP now owns 547 shares of the utilities provider’s stock worth $43,000 after purchasing an additional 312 shares during the last quarter. Crews Bank & Trust bought a new position in Otter Tail during the 4th quarter worth $81,000. Finally, KBC Group NV raised its position in Otter Tail by 27.9% during the 3rd quarter. KBC Group NV now owns 1,248 shares of the utilities provider’s stock worth $98,000 after purchasing an additional 272 shares during the last quarter. Institutional investors and hedge funds own 61.32% of the company’s stock.

Wall Street Analysts Forecast Growth

OTTR has been the subject of several research analyst reports. Siebert Williams Shank raised Otter Tail from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 6th. StockNews.com raised Otter Tail from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th.

Otter Tail Stock Performance

Shares of Otter Tail stock opened at $81.43 on Monday. Otter Tail Co. has a one year low of $71.66 and a one year high of $100.84. The firm has a market capitalization of $3.41 billion, a price-to-earnings ratio of 11.36 and a beta of 0.57. The business has a 50-day simple moving average of $76.91 and a 200 day simple moving average of $79.33. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.03 and a quick ratio of 1.66.

Otter Tail (NASDAQ:OTTR) last issued its earnings results on Monday, February 17th. The utilities provider reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.04. Otter Tail had a return on equity of 18.96% and a net margin of 22.67%. The business had revenue of $303.11 million during the quarter, compared to analyst estimates of $314.75 million. On average, research analysts anticipate that Otter Tail Co. will post 5.88 earnings per share for the current fiscal year.

Otter Tail Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be paid a dividend of $0.525 per share. The ex-dividend date is Friday, February 14th. This represents a $2.10 dividend on an annualized basis and a yield of 2.58%. This is an increase from Otter Tail’s previous quarterly dividend of $0.47. Otter Tail’s 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.