Illinois Municipal Retirement Fund Decreases Holdings in Otter Tail Co. (NASDAQ:OTTR)

Illinois Municipal Retirement Fund reduced its stake in Otter Tail Co. (NASDAQ:OTTR) by 3.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 24,149 shares of the utilities provider’s stock after selling 748 shares during the period. Illinois Municipal Retirement Fund’s holdings in Otter Tail were worth $2,052,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. International Assets Investment Management LLC grew its position in shares of Otter Tail by 8,231.5% in the 4th quarter. International Assets Investment Management LLC now owns 187,958 shares of the utilities provider’s stock worth $15,971,000 after buying an additional 185,702 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its position in shares of 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 buying an additional 132,162 shares during the last quarter. Federated Hermes Inc. grew its position in shares of Otter Tail by 82.8% in the 4th quarter. Federated Hermes Inc. now owns 143,231 shares of the utilities provider’s stock worth $12,170,000 after buying an additional 64,876 shares during the last quarter. OneAscent Financial Services LLC bought a new stake in shares of Otter Tail in the 4th quarter worth approximately $3,127,000. Finally, Louisiana State Employees Retirement System bought a new stake in shares of Otter Tail in the 4th quarter worth approximately $1,776,000. 61.32% of the stock is owned by hedge funds and other institutional investors.

Otter Tail Price Performance

Shares of OTTR stock opened at $85.57 on Friday. The firm has a market cap of $3.57 billion, a P/E ratio of 12.22 and a beta of 0.56. Otter Tail Co. has a fifty-two week low of $68.96 and a fifty-two week high of $99.49. The business’s 50 day moving average price is $84.92 and its 200-day moving average price is $82.69. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.36 and a current ratio of 1.84.

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

Otter Tail Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Thursday, February 15th were paid a dividend of $0.468 per share. This is a boost from Otter Tail’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $1.87 dividend on an annualized basis and a yield of 2.19%. Otter Tail’s payout ratio is presently 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.