Nisa Investment Advisors LLC Has $99,000 Stock Holdings in Otter Tail Corporation (NASDAQ:OTTR)

Nisa Investment Advisors LLC trimmed its position in Otter Tail Corporation (NASDAQ:OTTR) by 17.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,237 shares of the utilities provider’s stock after selling 265 shares during the period. Nisa Investment Advisors LLC’s holdings in Otter Tail were worth $99,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Byrne Asset Management LLC lifted its holdings in shares of Otter Tail by 54.8% in the first quarter. Byrne Asset Management LLC now owns 387 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 137 shares in the last quarter. Vermillion Wealth Management Inc. purchased a new stake in Otter Tail during the fourth quarter worth about $36,000. AdvisorNet Financial Inc raised its position in Otter Tail by 120.0% in the first quarter. AdvisorNet Financial Inc now owns 550 shares of the utilities provider’s stock worth $44,000 after acquiring an additional 300 shares during the period. Goodman Advisory Group LLC purchased a new position in Otter Tail in the first quarter valued at about $54,000. Finally, Studio Investment Management LLC bought a new position in shares of Otter Tail during the 4th quarter valued at approximately $50,000. 61.32% of the stock is owned by institutional investors and hedge funds.

Otter Tail Price Performance

NASDAQ OTTR opened at $77.19 on Friday. The company has a quick ratio of 2.03, a current ratio of 2.62 and a debt-to-equity ratio of 0.58. The company has a market cap of $3.23 billion, a PE ratio of 11.00 and a beta of 0.54. Otter Tail Corporation has a 52 week low of $71.66 and a 52 week high of $100.84. The firm’s 50-day simple moving average is $77.88 and its two-hundred day simple moving average is $78.47.

Otter Tail (NASDAQ:OTTR) last posted its quarterly 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 net margin of 22.37% and a return on equity of 17.95%. The company had revenue of $337.35 million for the quarter, compared to analyst estimates of $349.70 million. During the same quarter in the previous year, the firm posted $1.77 earnings per share. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. Research analysts predict that Otter Tail Corporation will post 5.88 earnings per share for the current year.

Otter Tail Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Thursday, May 15th were given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend was Thursday, May 15th. Otter Tail’s dividend payout ratio is presently 29.91%.

Analyst Upgrades and Downgrades

Separately, Siebert Williams Shank raised Otter Tail from a “hold” rating to a “buy” rating and raised their target price for the stock from $82.00 to $83.00 in a research 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.