Otter Tail (NASDAQ:OTTR) Hits New 1-Year Low – Time to Sell?

Otter Tail Co. (NASDAQ:OTTR)’s share price reached a new 52-week low during mid-day trading on Friday . The company traded as low as $71.96 and last traded at $72.07, with a volume of 49463 shares trading hands. The stock had previously closed at $74.46.

Analyst Upgrades and Downgrades

Several equities analysts have commented on OTTR shares. 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. StockNews.com upgraded Otter Tail from a “sell” rating to a “hold” rating in a research report on Thursday, November 14th.

Otter Tail Trading Down 3.1 %

The company has a 50-day moving average price of $77.87 and a two-hundred day moving average price of $82.13. The stock has a market cap of $3.02 billion, a P/E ratio of 9.97 and a beta of 0.56. The company has a current ratio of 2.17, a quick ratio of 1.66 and a debt-to-equity ratio of 0.58.

Otter Tail (NASDAQ:OTTR) last posted its quarterly earnings data on Monday, November 4th. The utilities provider reported $2.03 earnings per share for the quarter, beating analysts’ consensus estimates of $1.97 by $0.06. The business 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 business posted $2.19 earnings per share. On average, research analysts expect that Otter Tail Co. will post 7.13 EPS for the current fiscal year.

Otter Tail Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th were paid a $0.468 dividend. This represents a $1.87 annualized dividend and a yield of 2.59%. The ex-dividend date was Friday, November 15th. Otter Tail’s payout ratio is currently 25.83%.

Hedge Funds Weigh In On Otter Tail

Large investors have recently bought and sold shares of the business. Hoese & Co LLP bought a new stake in shares of Otter Tail during the third quarter worth $39,000. Wilmington Savings Fund Society FSB purchased a new position in Otter Tail in the 3rd quarter worth about $39,000. Allworth Financial LP boosted its position in Otter Tail by 132.8% in the 3rd quarter. Allworth Financial LP now owns 547 shares of the utilities provider’s stock valued at $43,000 after buying an additional 312 shares during the period. Quarry LP boosted its position in Otter Tail by 1,811.4% in the 2nd quarter. Quarry LP now owns 669 shares of the utilities provider’s stock valued at $59,000 after buying an additional 634 shares during the period. Finally, Abound Wealth Management grew its stake in Otter Tail by 28,725.0% in the 2nd quarter. Abound Wealth Management now owns 1,153 shares of the utilities provider’s stock worth $101,000 after acquiring an additional 1,149 shares in the last quarter. 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.