Otter Tail Co. (NASDAQ:OTTR) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System reduced its stake in Otter Tail Co. (NASDAQ:OTTR) by 1.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 15,160 shares of the utilities provider’s stock after selling 203 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Otter Tail were worth $1,288,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in OTTR. International Assets Investment Management LLC grew its holdings in shares of Otter Tail by 8,231.5% during the fourth quarter. International Assets Investment Management LLC now owns 187,958 shares of the utilities provider’s stock worth $15,971,000 after purchasing an additional 185,702 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its stake in Otter Tail by 32.0% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 545,488 shares of the utilities provider’s stock worth $41,413,000 after acquiring an additional 132,162 shares during the period. Rhumbline Advisers grew its stake in shares of Otter Tail by 10.7% during the 3rd quarter. Rhumbline Advisers now owns 116,001 shares of the utilities provider’s stock valued at $8,807,000 after buying an additional 11,173 shares during the period. Jump Financial LLC purchased a new stake in shares of Otter Tail during the 3rd quarter valued at $698,000. Finally, QRG Capital Management Inc. purchased a new stake in shares of Otter Tail during the 3rd quarter valued at $456,000. 61.32% of the stock is currently owned by institutional investors and hedge funds.

Otter Tail Stock Up 2.7 %

Shares of NASDAQ OTTR opened at $92.73 on Thursday. Otter Tail Co. has a 52-week low of $68.96 and a 52-week high of $99.49. The firm has a fifty day moving average of $84.86 and a 200-day moving average of $83.60. The stock has a market capitalization of $3.87 billion, a PE ratio of 13.25 and a beta of 0.56. The company has a quick ratio of 1.36, a current ratio of 1.84 and a debt-to-equity ratio of 0.57.

Otter Tail (NASDAQ:OTTR) last announced its quarterly earnings data on Tuesday, February 13th. The utilities provider reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.03. Otter Tail had a net margin of 21.81% and a return on equity of 21.64%. The company had revenue of $314.31 million during the quarter, compared to analysts’ expectations of $300.60 million. During the same period in the previous year, the company earned $1.00 EPS. On average, analysts anticipate that Otter Tail Co. will post 5.28 EPS for the current year.

Otter Tail Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Wednesday, May 15th will be given a dividend of $0.468 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $1.87 dividend on an annualized basis and a yield of 2.02%. Otter Tail’s dividend payout ratio (DPR) is 26.71%.

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.