UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $3.49 Million Stock Position in Otter Tail Co. (NASDAQ:OTTR)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its holdings in Otter Tail Co. (NASDAQ:OTTR) by 13.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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 owned 0.11% of Otter Tail worth $3,488,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of OTTR. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Otter Tail by 4.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,743 shares of the utilities provider’s stock valued at $683,000 after purchasing an additional 334 shares during the last quarter. Cynosure Group LLC raised its holdings in Otter Tail by 111.7% in the 3rd quarter. Cynosure Group LLC now owns 9,151 shares of the utilities provider’s stock valued at $715,000 after buying an additional 4,829 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in Otter Tail by 17.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 18,533 shares of the utilities provider’s stock valued at $1,449,000 after buying an additional 2,820 shares during the last quarter. Quantbot Technologies LP boosted its position in Otter Tail by 191.8% during the 3rd quarter. Quantbot Technologies LP now owns 17,232 shares of the utilities provider’s stock worth $1,347,000 after buying an additional 11,327 shares during the period. Finally, Hancock Whitney Corp grew its holdings in Otter Tail by 2.9% during the 3rd quarter. Hancock Whitney Corp now owns 4,946 shares of the utilities provider’s stock worth $387,000 after acquiring an additional 139 shares during the last quarter. Institutional investors and hedge funds own 61.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on OTTR shares. Siebert Williams Shank raised Otter Tail from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 6th. StockNews.com upgraded shares of Otter Tail from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th.

Otter Tail Trading Down 0.9 %

NASDAQ OTTR opened at $75.88 on Friday. The company has a quick ratio of 1.66, a current ratio of 2.17 and a debt-to-equity ratio of 0.58. Otter Tail Co. has a 52 week low of $73.43 and a 52 week high of $100.84. The business has a 50 day moving average price of $79.19 and a 200-day moving average price of $84.02. The company has a market cap of $3.17 billion, a price-to-earnings ratio of 10.48 and a beta of 0.54.

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

Otter Tail Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th were paid a $0.468 dividend. The ex-dividend date was Friday, November 15th. This represents a $1.87 annualized dividend and a dividend yield of 2.47%. Otter Tail’s payout ratio is presently 25.83%.

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.