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 trading hands. The stock had previously closed at $76.36.

Analyst Upgrades and Downgrades

A number of research firms have commented on OTTR. StockNews.com raised shares of Otter Tail from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Siebert Williams Shank upgraded shares of Otter Tail from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 6th.

Otter Tail Trading Up 0.3 %

The company has a market capitalization of $3.14 billion, a PE ratio of 10.38 and a beta of 0.54. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.17 and a quick ratio of 1.66. The firm’s 50 day moving average is $79.13 and its 200 day moving average is $83.52.

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

Otter Tail Announces Dividend

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

Hedge Funds Weigh In On Otter Tail

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Caisse DE Depot ET Placement DU Quebec bought a new position in shares of Otter Tail during the third quarter valued at $6,484,000. International Assets Investment Management LLC lifted its stake in shares of Otter Tail by 3,339.9% in the third quarter. International Assets Investment Management LLC now owns 76,434 shares of the utilities provider’s stock worth $5,974,000 after buying an additional 74,212 shares in the last quarter. Edgestream Partners L.P. grew its holdings in shares of Otter Tail by 2,055.2% during the second quarter. Edgestream Partners L.P. now owns 67,695 shares of the utilities provider’s stock valued at $5,929,000 after buying an additional 64,554 shares during the last quarter. Barclays PLC grew its holdings in shares of Otter Tail by 359.8% during the third quarter. Barclays PLC now owns 70,553 shares of the utilities provider’s stock valued at $5,514,000 after buying an additional 55,210 shares during the last quarter. Finally, Segall Bryant & Hamill LLC bought a new stake in shares of Otter Tail during the third quarter valued at approximately $2,947,000. Hedge funds and other institutional investors own 61.32% of the company’s stock.

About Otter Tail

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.