California State Teachers Retirement System trimmed its stake in shares of Otter Tail Co. (NASDAQ:OTTR) by 9.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 62,964 shares of the utilities provider’s stock after selling 6,708 shares during the period. California State Teachers Retirement System’s holdings in Otter Tail were worth $2,729,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in OTTR. Ameritas Investment Partners Inc. boosted its position in shares of Otter Tail by 9.8% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,453 shares of the utilities provider’s stock worth $137,000 after acquiring an additional 309 shares in the last quarter. C M Bidwell & Associates Ltd. acquired a new position in shares of Otter Tail during the 2nd quarter worth about $173,000. Amalgamated Bank acquired a new position in shares of Otter Tail during the 3rd quarter worth about $212,000. Murphy Capital Management Inc. acquired a new position in shares of Otter Tail during the 3rd quarter worth about $216,000. Finally, Old Mutual Global Investors UK Ltd. boosted its position in shares of Otter Tail by 129.2% during the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 6,240 shares of the utilities provider’s stock worth $270,000 after acquiring an additional 3,517 shares in the last quarter. 41.02% of the stock is owned by hedge funds and other institutional investors.

Shares of Otter Tail Co. (NASDAQ OTTR) opened at $41.35 on Friday. Otter Tail Co. has a fifty-two week low of $35.65 and a fifty-two week high of $48.65. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.93 and a quick ratio of 0.61. The firm has a market capitalization of $1,640.00, a PE ratio of 22.97 and a beta of 0.82.

Otter Tail (NASDAQ:OTTR) last posted its earnings results on Wednesday, November 1st. The utilities provider reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.06. Otter Tail had a return on equity of 10.34% and a net margin of 8.21%. The business had revenue of $216.50 million during the quarter, compared to the consensus estimate of $201.70 million. During the same period in the previous year, the business earned $0.37 EPS. The business’s quarterly revenue was up 9.8% on a year-over-year basis. analysts anticipate that Otter Tail Co. will post 1.8 earnings per share for the current fiscal year.

OTTR has been the subject of several analyst reports. Zacks Investment Research cut Otter Tail from a “buy” rating to a “hold” rating in a research report on Wednesday, October 11th. Sidoti cut Otter Tail from a “buy” rating to a “neutral” rating and set a $46.00 price objective for the company. in a research report on Monday, January 8th. BidaskClub downgraded Otter Tail from a “buy” rating to a “hold” rating in a report on Friday, December 22nd. Finally, KeyCorp reissued a “hold” rating on shares of Otter Tail in a report on Friday, October 20th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. Otter Tail has an average rating of “Hold” and an average price target of $44.67.

In other news, Director John D. Erickson sold 2,400 shares of the business’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $45.55, for a total value of $109,320.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kevin G. Moug sold 1,500 shares of the business’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $46.50, for a total value of $69,750.00. The disclosure for this sale can be found here. Insiders sold a total of 6,900 shares of company stock valued at $318,570 over the last three months. Company insiders own 1.40% of the company’s stock.

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Otter Tail Profile

Otter Tail Corporation is a holding company. The Company operates through three segments: Electric, Manufacturing and Plastics. The Electric segment includes the production, transmission, distribution and sale of electric energy in Minnesota, North Dakota and South Dakota by Otter Tail Power Company (OTP).

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Institutional Ownership by Quarter for Otter Tail (NASDAQ:OTTR)

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