Fuller & Thaler Asset Management Inc. Sells 21,180 Shares of Otter Tail Co. (NASDAQ:OTTR)

Fuller & Thaler Asset Management Inc. reduced its stake in Otter Tail Co. (NASDAQ:OTTR) by 12.1% in the 4th quarter, HoldingsChannel reports. The firm owned 154,562 shares of the utilities provider’s stock after selling 21,180 shares during the quarter. Fuller & Thaler Asset Management Inc.’s holdings in Otter Tail were worth $11,413,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Invesco Ltd. raised its stake in Otter Tail by 49.6% during the 4th 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 during the period. JPMorgan Chase & Co. increased 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 valued at $13,981,000 after acquiring an additional 91,516 shares in the last quarter. Barclays PLC raised its position in shares of Otter Tail by 359.8% during the third quarter. Barclays PLC now owns 70,553 shares of the utilities provider’s stock worth $5,514,000 after purchasing an additional 55,210 shares during the period. Buck Wealth Strategies LLC bought a new position in shares of Otter Tail in the 4th quarter worth $3,982,000. Finally, Victory Capital Management Inc. grew its position in Otter Tail by 61.1% in the 4th quarter. Victory Capital Management Inc. now owns 115,211 shares of the utilities provider’s stock valued at $8,507,000 after purchasing an additional 43,693 shares during the period. Institutional investors and hedge funds own 61.32% of the company’s stock.

Otter Tail Stock Performance

OTTR opened at $79.13 on Friday. Otter Tail Co. has a 1-year low of $71.66 and a 1-year high of $100.84. The company has a market cap of $3.31 billion, a price-to-earnings ratio of 11.04 and a beta of 0.49. The company’s fifty day moving average price is $80.07 and its two-hundred day moving average price is $78.65. The company has a current ratio of 2.03, a quick ratio of 1.66 and a debt-to-equity ratio of 0.57.

Otter Tail (NASDAQ:OTTR) last announced its quarterly earnings results on Monday, February 17th. The utilities provider reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.04. The business had revenue of $303.11 million for the quarter, compared to analysts’ expectations of $314.75 million. Otter Tail had a net margin of 22.67% and a return on equity of 18.96%. On average, analysts expect that Otter Tail Co. will post 5.88 EPS for the current fiscal year.

Otter Tail Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Friday, February 14th were given a $0.525 dividend. This is a positive change from Otter Tail’s previous quarterly dividend of $0.47. This represents a $2.10 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date of this dividend was Friday, February 14th. Otter Tail’s dividend payout ratio is presently 29.29%.

Otter Tail 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.