Otter Tail (NASDAQ:OTTR) Hits New 52-Week Low – Here’s Why

Otter Tail Co. (NASDAQ:OTTR) shares hit a new 52-week low on Wednesday . The company traded as low as $73.26 and last traded at $73.73, with a volume of 119412 shares changing hands. The stock had previously closed at $76.36.

Wall Street Analyst Weigh In

Several research firms recently issued reports on OTTR. Siebert Williams Shank upgraded Otter Tail from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 6th. StockNews.com raised Otter Tail from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th.

Otter Tail Stock Performance

The company has a fifty day moving average of $79.13 and a two-hundred day moving average of $83.52. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.66 and a current ratio of 2.17. The company has a market cap of $3.14 billion, a price-to-earnings ratio of 10.38 and a beta of 0.54.

Otter Tail (NASDAQ:OTTR) last issued its quarterly earnings data on Monday, November 4th. The utilities provider reported $2.03 earnings per share for the quarter, topping the consensus estimate of $1.97 by $0.06. The company had revenue of $338.03 million for the quarter, compared to analysts’ expectations of $362.20 million. Otter Tail had a net margin of 22.70% and a return on equity of 19.84%. During the same quarter in the previous year, the firm posted $2.19 earnings per share. Equities research analysts anticipate that Otter Tail Co. will post 7.13 EPS for the current year.

Otter Tail Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 15th were paid a dividend of $0.468 per share. This represents a $1.87 annualized dividend and a yield of 2.49%. The ex-dividend date of this dividend was Friday, November 15th. Otter Tail’s dividend payout ratio is presently 25.83%.

Institutional Investors Weigh In On Otter Tail

Hedge funds and other institutional investors have recently modified their holdings of the company. Hoese & Co LLP bought a new stake in Otter Tail during the third quarter worth $39,000. Wilmington Savings Fund Society FSB bought a new position in shares of Otter Tail during the third quarter valued at about $39,000. Allworth Financial LP boosted its holdings in Otter Tail by 132.8% during the third quarter. Allworth Financial LP now owns 547 shares of the utilities provider’s stock worth $43,000 after purchasing an additional 312 shares during the last quarter. Quarry LP increased its position in Otter Tail by 1,811.4% in the second quarter. Quarry LP now owns 669 shares of the utilities provider’s stock worth $59,000 after buying an additional 634 shares during the last quarter. Finally, KBC Group NV raised its stake in shares of Otter Tail by 27.9% in the third quarter. KBC Group NV now owns 1,248 shares of the utilities provider’s stock valued at $98,000 after buying an additional 272 shares during the period. Institutional investors own 61.32% of the company’s stock.

Otter Tail Company 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.