Mitsubishi UFJ Trust & Banking Corp Invests $797,000 in Otter Tail Co. (NASDAQ:OTTR)

Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of Otter Tail Co. (NASDAQ:OTTRGet Rating) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 11,875 shares of the utilities provider’s stock, valued at approximately $797,000.

Several other institutional investors have also modified their holdings of OTTR. Signaturefd LLC grew its position in shares of Otter Tail by 65.8% during the first quarter. Signaturefd LLC now owns 731 shares of the utilities provider’s stock worth $46,000 after acquiring an additional 290 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of Otter Tail by 89.8% during the first quarter. Envestnet Asset Management Inc. now owns 12,205 shares of the utilities provider’s stock worth $763,000 after acquiring an additional 5,773 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Otter Tail by 18.5% during the first quarter. Victory Capital Management Inc. now owns 258,964 shares of the utilities provider’s stock worth $15,010,000 after acquiring an additional 40,420 shares during the last quarter. KBC Group NV grew its position in shares of Otter Tail by 122.6% during the first quarter. KBC Group NV now owns 11,422 shares of the utilities provider’s stock worth $714,000 after acquiring an additional 6,291 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System grew its position in shares of Otter Tail by 77.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 54,048 shares of the utilities provider’s stock worth $3,378,000 after acquiring an additional 23,606 shares during the last quarter. Institutional investors own 48.13% of the company’s stock.

Otter Tail Price Performance

Shares of NASDAQ OTTR opened at $55.97 on Monday. Otter Tail Co. has a twelve month low of $52.60 and a twelve month high of $82.46. The company has a current ratio of 1.90, a quick ratio of 1.30 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $2.33 billion, a price-to-earnings ratio of 7.98 and a beta of 0.54. The firm has a 50-day moving average of $63.08 and a two-hundred day moving average of $67.16.

Otter Tail Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 9th. Shareholders of record on Tuesday, November 15th will be issued a $0.412 dividend. This represents a $1.65 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date is Monday, November 14th. Otter Tail’s payout ratio is 23.54%.

Analysts Set New Price Targets

OTTR has been the subject of several research analyst reports. Maxim Group reduced their price objective on shares of Otter Tail from $95.00 to $75.00 in a report on Wednesday, November 2nd. StockNews.com downgraded shares of Otter Tail from a “buy” rating to a “hold” rating in a report on Monday, October 31st. Finally, Siebert Williams Shank downgraded shares of Otter Tail from a “hold” rating to a “sell” rating and upped their price objective for the stock from $62.00 to $64.00 in a report on Wednesday, August 3rd.

Otter Tail Profile

(Get Rating)

Otter Tail Corporation, together with its subsidiaries, engages in electric utility, manufacturing, and plastic pipe 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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