Otter Tail soars ahead of S&P SmallCap addition

Otter Tail

17/02/2023 17:27

** Shares of electric utilities co Otter Tail Corp  OTTR.O 
up 12.4% at $70.56, five-month high, ahead of its S&P SmallCap
600 index  .SPCY  inclusion next week
    ** OTTR shares on course for biggest one-day pct gain since
Mar 2020; trading volume of ~800k shares so far is 5.5x stock's
25-DMA volume, per Refinitiv
    ** Minnesota-based OTTR, which also manufactures metal and
plastic parts, to join SPCY effective Thurs, Feb 23, per S&P Dow
Jones Indices  urn:newsml:reuters.com:*:nPn5hb9wda
    ** OTTR to replace building products firm UFP Industries Inc
 UFPI.O , which is moving to S&P MidCap 400  .IDX  as
UnitedHealth Group Inc  UNH.N  is expected to close its approx
$5 bln acquisition of LHC Group Inc  LHCG.O 
    ** UFPI shares down 8.2% at $86.53 on Fri
    ** With move on the session OTTR shares up ~20% YTD for
roughly $3 bln market cap, per Refinitiv
    ** Shares of UFPI now up 9% to start 2023 and have about
$5.3 bln market value
 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))