BlackRock Amends Otter Tail Corp. Stake (SC 13G/A)
Ticker: OTTR · Form: SC 13G/A · Filed: Jan 22, 2024
Sentiment: neutral
Topics: institutional-ownership, amendment, utility-sector
TL;DR
**BlackRock updated its Otter Tail Corp. holdings, signaling a potential shift in institutional sentiment.**
AI Summary
BlackRock Inc. filed an amended SC 13G/A on January 22, 2024, indicating a change in its ownership stake in Otter Tail Corp. as of December 31, 2023. This amendment, number 10, updates BlackRock's previously reported holdings of Otter Tail Corp. Common Stock. This matters to investors because BlackRock is a major institutional investor, and changes in its position can signal shifts in its outlook on the company's future performance or valuation.
Why It Matters
Large institutional investors like BlackRock often have significant research capabilities, so their buying or selling activity can influence market sentiment and potentially the stock price of Otter Tail Corp.
Risk Assessment
Risk Level: low — This filing is a routine disclosure of institutional ownership and does not inherently indicate a high level of risk for investors.
Analyst Insight
An investor should note that BlackRock, a significant institutional holder, has updated its position in Otter Tail Corp. While this filing doesn't disclose the exact change in shares or percentage, it signals a re-evaluation of their stake as of December 31, 2023. Smart investors would look for the full details of BlackRock's updated ownership percentage in the complete SC 13G/A filing to understand the magnitude of any change and consider it alongside other fundamental analysis of Otter Tail Corp.
Key Players & Entities
- BlackRock Inc. (company) — the institutional investor filing the SC 13G/A
- Otter Tail Corp. (company) — the subject company whose shares are being reported
- December 31, 2023 (date) — the date of the event requiring the filing
- January 22, 2024 (date) — the filing date of the SC 13G/A
- 689648103 (number) — the CUSIP number for Otter Tail Corp. Common Stock
FAQ
What type of filing is this document?
This document is an SC 13G/A, which is an amendment to a Schedule 13G filing, as indicated by 'FORM TYPE: SC 13G/A' and 'SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No: 10)'.
Who is the filer of this SC 13G/A?
The filer of this SC 13G/A is BlackRock Inc., as stated under 'FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BlackRock Inc.'.
Which company's securities are the subject of this filing?
The securities of Otter Tail Corp. are the subject of this filing, as indicated by 'SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Otter Tail Corp' and '(Name of Issuer) OTTER TAIL CORP'.
What was the 'Date of Event Which Requires Filing of this Statement'?
The 'Date of Event Which Requires Filing of this Statement' was December 31, 2023, as explicitly stated in the filing.
What is the CUSIP number for the class of securities reported?
The CUSIP number for the Common Stock of Otter Tail Corp. is 689648103, as listed under '(CUSIP Number) 689648103'.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 22, 2024 regarding Otter Tail Corp (OTTR).