UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 7,097 Shares of Otter Tail Co. (NASDAQ:OTTR)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its position in shares of Otter Tail Co. (NASDAQ:OTTR - Free Report) by 13.7% during the third quarter, according to its most recent filing 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 period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.11% of Otter Tail worth $3,488,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hoese & Co LLP purchased a new position in Otter Tail in the 3rd quarter valued at approximately $39,000. Allworth Financial LP boosted its holdings in shares of Otter Tail by 132.8% in the third quarter. Allworth Financial LP now owns 547 shares of the utilities provider's stock worth $43,000 after acquiring an additional 312 shares during the period. Quarry LP grew its position in shares of Otter Tail by 1,811.4% in the second quarter. Quarry LP now owns 669 shares of the utilities provider's stock valued at $59,000 after purchasing an additional 634 shares in the last quarter. KBC Group NV raised its stake in shares of Otter Tail by 27.9% during the 3rd quarter. KBC Group NV now owns 1,248 shares of the utilities provider's stock valued at $98,000 after purchasing an additional 272 shares during the period. Finally, Abound Wealth Management lifted its holdings in Otter Tail by 28,725.0% during the 2nd 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 in the last quarter. Institutional investors own 61.32% of the company's stock.

Analysts Set New Price Targets

OTTR has been the subject of a number of recent analyst reports. StockNews.com raised Otter Tail from a "sell" rating to a "hold" rating in a report on Thursday, November 14th. Siebert Williams Shank raised shares of Otter Tail from a "strong sell" rating to a "hold" rating in a research note on Wednesday, November 6th.

Otter Tail Price Performance

Shares of OTTR traded down $0.72 during mid-day trading on Friday, reaching $75.88. 202,099 shares of the stock traded hands, compared to its average volume of 231,727. The company has a current ratio of 2.17, a quick ratio of 1.66 and a debt-to-equity ratio of 0.58. Otter Tail Co. has a 1 year low of $73.43 and a 1 year high of $100.84. The company has a market cap of $3.17 billion, a price-to-earnings ratio of 10.48 and a beta of 0.54. The firm has a fifty day moving average price of $79.15 and a 200 day moving average price of $83.88.

Otter Tail (NASDAQ:OTTR - Get Free Report) last announced its earnings results 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. The business had revenue of $338.03 million for the quarter, compared to analyst estimates of $362.20 million. Otter Tail had a return on equity of 19.84% and a net margin of 22.70%. During the same period in the prior year, the company earned $2.19 EPS. As a group, equities research analysts predict that Otter Tail Co. will post 7.13 earnings per share for the current year.

Otter Tail Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th were given a dividend of $0.468 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.87 annualized dividend and a 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.