Nuveen Asset Management LLC Sells 118,688 Shares of Otter Tail Co. (NASDAQ:OTTR)

Nuveen Asset Management LLC trimmed its position in shares of Otter Tail Co. (NASDAQ:OTTR - Free Report) by 41.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 164,396 shares of the utilities provider's stock after selling 118,688 shares during the period. Nuveen Asset Management LLC owned 0.39% of Otter Tail worth $12,139,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in OTTR. Barclays PLC boosted its stake in shares of Otter Tail by 359.8% during the 3rd quarter. Barclays PLC now owns 70,553 shares of the utilities provider's stock valued at $5,514,000 after buying an additional 55,210 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of Otter Tail by 28.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,502 shares of the utilities provider's stock valued at $111,000 after buying an additional 333 shares during the period. Linden Thomas Advisory Services LLC boosted its stake in shares of Otter Tail by 22.1% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 7,541 shares of the utilities provider's stock valued at $557,000 after buying an additional 1,367 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in shares of Otter Tail by 10.9% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 8,178 shares of the utilities provider's stock valued at $604,000 after buying an additional 806 shares during the period. Finally, Blue Trust Inc. lifted its stake in shares of Otter Tail by 34.3% in the 4th quarter. Blue Trust Inc. now owns 1,947 shares of the utilities provider's stock valued at $152,000 after purchasing an additional 497 shares during the last quarter. 61.32% of the stock is currently owned by hedge funds and other institutional investors.

Otter Tail Stock Performance

Shares of NASDAQ:OTTR traded up $0.10 on Friday, hitting $77.57. 52,166 shares of the company were exchanged, compared to its average volume of 251,304. The company's 50 day moving average price is $78.46 and its two-hundred day moving average price is $78.54. Otter Tail Co. has a one year low of $71.66 and a one year high of $100.84. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.66 and a current ratio of 2.03. The firm has a market capitalization of $3.25 billion, a price-to-earnings ratio of 10.82 and a beta of 0.56.

Otter Tail (NASDAQ:OTTR - Get Free Report) last posted its earnings results on Monday, May 5th. The utilities provider reported $1.62 earnings per share for the quarter, beating analysts' consensus estimates of $1.53 by $0.09. The business had revenue of $337.35 million for the quarter, compared to analysts' expectations of $349.70 million. Otter Tail had a net margin of 22.67% and a return on equity of 18.96%. The firm's revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.77 earnings per share. Research analysts expect that Otter Tail Co. will post 5.88 earnings per share for the current year.

Otter Tail Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Thursday, May 15th will be paid a dividend of $0.525 per share. The ex-dividend date is Thursday, May 15th. This represents a $2.10 annualized dividend and a dividend yield of 2.71%. Otter Tail's dividend payout ratio (DPR) is currently 29.91%.

Analyst Ratings Changes

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

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.