Teacher Retirement System of Texas Has $936,000 Stock Holdings in Otter Tail Co. (NASDAQ:OTTR)

Teacher Retirement System of Texas lowered its holdings in shares of Otter Tail Co. (NASDAQ:OTTR) by 26.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in OTTR. XTX Topco Ltd acquired a new stake in shares of Otter Tail during the 3rd quarter worth approximately $589,000. Intech Investment Management LLC bought a new position in Otter Tail during the third quarter worth $683,000. Stifel Financial Corp acquired a new stake in Otter Tail in the third quarter worth $238,000. Assenagon Asset Management S.A. bought a new stake in Otter Tail in the fourth quarter valued at $455,000. Finally, Barclays PLC raised its holdings in shares of Otter Tail by 359.8% during the third quarter. Barclays PLC now owns 70,553 shares of the utilities provider’s stock valued at $5,514,000 after purchasing an additional 55,210 shares during the period. 61.32% of the stock is currently owned by institutional investors.

Otter Tail Stock Performance

Shares of OTTR opened at $80.73 on Friday. Otter Tail Co. has a one year low of $71.66 and a one year high of $100.84. The company has a market cap of $3.38 billion, a PE ratio of 11.26 and a beta of 0.53. The stock has a 50-day moving average of $79.97 and a 200-day moving average of $78.62. 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 announced its quarterly earnings data 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 firm had revenue of $303.11 million during the quarter, compared to analysts’ expectations of $314.75 million. On average, equities research analysts predict that Otter Tail Co. will post 5.88 EPS for the current fiscal year.

Otter Tail Increases Dividend

The firm 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 is an increase from Otter Tail’s previous quarterly dividend of $0.47. The ex-dividend date was Friday, February 14th. This represents a $2.10 annualized dividend and a yield of 2.60%. Otter Tail’s dividend payout ratio is presently 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.