UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Lowers Stock Position in Otter Tail Co. (NASDAQ:OTTR)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in shares of Otter Tail Co. (NASDAQ:OTTR) by 13.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 44,629 shares of the utilities provider’s stock after selling 7,097 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Otter Tail were worth $3,488,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Hoese & Co LLP purchased a new position in shares of Otter Tail during the 3rd quarter valued at about $39,000. Allworth Financial LP boosted its stake in shares of Otter Tail by 132.8% in the 3rd quarter. Allworth Financial LP now owns 547 shares of the utilities provider’s stock valued at $43,000 after purchasing an additional 312 shares in the last quarter. Quarry LP grew its holdings in shares of Otter Tail by 1,811.4% during the 2nd quarter. Quarry LP now owns 669 shares of the utilities provider’s stock valued at $59,000 after purchasing an additional 634 shares during the last quarter. KBC Group NV raised its position in Otter Tail by 27.9% in the 3rd quarter. KBC Group NV now owns 1,248 shares of the utilities provider’s stock worth $98,000 after purchasing an additional 272 shares during the period. Finally, Abound Wealth Management lifted its stake in Otter Tail by 28,725.0% in the second quarter. Abound Wealth Management now owns 1,153 shares of the utilities provider’s stock worth $101,000 after purchasing an additional 1,149 shares during the last quarter. Hedge funds and other institutional investors own 61.32% of the company’s stock.

Otter Tail Price Performance

Shares of NASDAQ OTTR opened at $75.88 on Friday. The company has a 50 day simple moving average of $79.19 and a two-hundred day simple moving average of $84.02. Otter Tail Co. has a fifty-two week low of $73.43 and a fifty-two week high of $100.84. The company has a market capitalization of $3.17 billion, a price-to-earnings ratio of 10.48 and a beta of 0.54. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.66 and a current ratio of 2.17.

Otter Tail (NASDAQ:OTTR) last announced its quarterly earnings data on Monday, November 4th. The utilities provider reported $2.03 earnings per share for the quarter, topping analysts’ consensus estimates of $1.97 by $0.06. Otter Tail had a net margin of 22.70% and a return on equity of 19.84%. The company had revenue of $338.03 million during the quarter, compared to analyst estimates of $362.20 million. During the same period in the previous year, the business earned $2.19 EPS. Analysts expect that Otter Tail Co. will post 7.13 EPS for the current fiscal year.

Otter Tail Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th were given a dividend of $0.468 per share. This represents a $1.87 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date was Friday, November 15th. Otter Tail’s payout ratio is 25.83%.

Analysts Set New Price Targets

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

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.