UBS Asset Management Americas Inc. Buys 4,645 Shares of Otter Tail Co. (NASDAQ:OTTR)

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UBS Asset Management Americas Inc. increased its stake in Otter Tail Co. (NASDAQ:OTTR) by 17.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,660 shares of the utilities provider’s stock after purchasing an additional 4,645 shares during the period. UBS Asset Management Americas Inc. owned 0.08% of Otter Tail worth $1,619,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of OTTR. First Trust Advisors LP raised its position in Otter Tail by 22.4% in the 1st quarter. First Trust Advisors LP now owns 613,670 shares of the utilities provider’s stock worth $30,573,000 after purchasing an additional 112,454 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its position in shares of Otter Tail by 413.6% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 56,625 shares of the utilities provider’s stock valued at $2,990,000 after acquiring an additional 45,600 shares during the last quarter. Bank of Montreal Can raised its position in shares of Otter Tail by 1,157.6% during the 2nd quarter. Bank of Montreal Can now owns 35,591 shares of the utilities provider’s stock valued at $1,880,000 after acquiring an additional 32,761 shares during the last quarter. Man Group plc bought a new stake in shares of Otter Tail during the 2nd quarter valued at $1,463,000. Finally, Citadel Advisors LLC raised its position in shares of Otter Tail by 329.0% during the 2nd quarter. Citadel Advisors LLC now owns 33,953 shares of the utilities provider’s stock valued at $1,793,000 after acquiring an additional 26,039 shares during the last quarter. Hedge funds and other institutional investors own 44.03% of the company’s stock.

Several analysts have commented on the stock. BidaskClub upgraded shares of Otter Tail from a “hold” rating to a “buy” rating in a research report on Friday, September 6th. ValuEngine cut shares of Otter Tail from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Maxim Group set a $60.00 target price on shares of Otter Tail and gave the company a “buy” rating in a research report on Wednesday, August 7th.

Shares of Otter Tail stock opened at $54.15 on Friday. The firm has a fifty day moving average of $52.59 and a two-hundred day moving average of $51.67. The stock has a market capitalization of $2.13 billion, a price-to-earnings ratio of 27.02, a PEG ratio of 3.51 and a beta of 0.35. Otter Tail Co. has a 52 week low of $44.22 and a 52 week high of $55.10. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.77 and a current ratio of 1.28.

Otter Tail (NASDAQ:OTTR) last issued its earnings results on Monday, August 5th. The utilities provider reported $0.39 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.09). The business had revenue of $229.20 million for the quarter, compared to the consensus estimate of $229.20 million. Otter Tail had a net margin of 8.57% and a return on equity of 10.78%. The business’s revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.47 EPS. As a group, research analysts forecast that Otter Tail Co. will post 2.17 EPS for the current fiscal year.

Otter Tail Company Profile

Otter Tail Corporation, together with its subsidiaries, engages in electric, manufacturing, and plastics businesses in the United States. The company's 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, Inc markets.

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

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