Illinois Municipal Retirement Fund Sells 1,343 Shares of Otter Tail Co. (NASDAQ:OTTR)

Illinois Municipal Retirement Fund lessened its position in shares of Otter Tail Co. (NASDAQ:OTTR) by 5.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 22,920 shares of the utilities provider’s stock after selling 1,343 shares during the period. Illinois Municipal Retirement Fund owned approximately 0.05% of Otter Tail worth $1,692,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Private Advisor Group LLC increased its holdings in shares of Otter Tail by 2.8% in the fourth quarter. Private Advisor Group LLC now owns 4,826 shares of the utilities provider’s stock worth $356,000 after purchasing an additional 131 shares during the period. Hancock Whitney Corp grew its position in Otter Tail by 2.9% during the third quarter. Hancock Whitney Corp now owns 4,946 shares of the utilities provider’s stock worth $387,000 after buying an additional 139 shares in the last quarter. Quantinno Capital Management LP grew its position in Otter Tail by 6.6% during the third quarter. Quantinno Capital Management LP now owns 2,614 shares of the utilities provider’s stock worth $204,000 after buying an additional 162 shares in the last quarter. D.A. Davidson & CO. increased its stake in Otter Tail by 3.8% in the 4th quarter. D.A. Davidson & CO. now owns 6,958 shares of the utilities provider’s stock worth $514,000 after acquiring an additional 253 shares during the last quarter. Finally, KBC Group NV raised its holdings in shares of Otter Tail by 27.9% in the 3rd quarter. KBC Group NV now owns 1,248 shares of the utilities provider’s stock valued at $98,000 after acquiring an additional 272 shares in the last quarter. 61.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. StockNews.com raised Otter Tail from a “sell” rating to a “hold” rating in a report on Thursday, November 14th. Siebert Williams Shank raised shares of Otter Tail from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 6th.

Otter Tail Stock Up 0.4 %

Shares of NASDAQ:OTTR opened at $79.73 on Friday. The firm has a market capitalization of $3.33 billion, a PE ratio of 11.12 and a beta of 0.57. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.66 and a current ratio of 2.03. Otter Tail Co. has a 52-week low of $71.66 and a 52-week high of $100.84. The firm has a fifty day moving average of $77.36 and a 200 day moving average of $79.22.

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

Otter Tail Increases Dividend

The firm 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 of this dividend is Friday, February 14th. This is an increase from Otter Tail’s previous quarterly dividend of $0.47. This represents a $2.10 annualized dividend and a dividend yield of 2.63%. Otter Tail’s dividend payout ratio (DPR) is 29.29%.

About Otter Tail

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.