Teacher Retirement System of Texas Has $442,000 Stock Holdings in Otter Tail Corporation (NASDAQ:OTTR)

Teacher Retirement System of Texas trimmed its holdings in shares of Otter Tail Corporation (NASDAQ:OTTR) by 56.6% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,503 shares of the utilities provider’s stock after selling 7,179 shares during the quarter. Teacher Retirement System of Texas’ holdings in Otter Tail were worth $442,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Otter Tail by 168.8% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 223,005 shares of the utilities provider’s stock worth $16,467,000 after acquiring an additional 140,044 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Otter Tail by 49.6% during the fourth quarter. Invesco Ltd. now owns 291,344 shares of the utilities provider’s stock worth $21,513,000 after buying an additional 96,573 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Otter Tail by 93.5% during the fourth quarter. JPMorgan Chase & Co. now owns 189,345 shares of the utilities provider’s stock worth $13,981,000 after buying an additional 91,516 shares in the last quarter. Voloridge Investment Management LLC bought a new position in shares of Otter Tail in the fourth quarter worth $5,675,000. Finally, Northern Trust Corp grew its stake in Otter Tail by 15.1% during the fourth quarter. Northern Trust Corp now owns 545,618 shares of the utilities provider’s stock worth $40,288,000 after buying an additional 71,601 shares in the last quarter. 61.32% of the stock is owned by institutional investors.

Otter Tail Trading Up 0.6%

NASDAQ OTTR opened at $76.56 on Friday. The firm has a market capitalization of $3.21 billion, a P/E ratio of 10.91 and a beta of 0.54. The business has a fifty day simple moving average of $77.88 and a 200 day simple moving average of $78.45. Otter Tail Corporation has a 12 month low of $71.66 and a 12 month high of $100.84. The company has a current ratio of 2.62, a quick ratio of 2.03 and a debt-to-equity ratio of 0.58.

Otter Tail (NASDAQ:OTTR) last announced its earnings results on Monday, May 5th. The utilities provider reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.09. Otter Tail had a return on equity of 17.95% and a net margin of 22.37%. The firm had revenue of $337.35 million during the quarter, compared to analyst estimates of $349.70 million. During the same period last year, the firm posted $1.77 EPS. The business’s revenue was down 2.8% compared to the same quarter last year. On average, analysts predict that Otter Tail Corporation will post 5.88 EPS for the current fiscal year.

Otter Tail Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Thursday, May 15th were paid a dividend of $0.525 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $2.10 annualized dividend and a dividend yield of 2.74%. Otter Tail’s payout ratio is 29.91%.

Wall Street Analyst Weigh In

Separately, Siebert Williams Shank upgraded Otter Tail from a “hold” rating to a “buy” rating and boosted their price target for the stock from $82.00 to $83.00 in a report on Wednesday, May 7th.

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.