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

Otter Tail Co. (NASDAQ:OTTR)’s stock price reached a new 52-week low during trading on Thursday . The stock traded as low as $73.22 and last traded at $73.41, with a volume of 43312 shares changing hands. The stock had previously closed at $73.84.

Analyst Upgrades and Downgrades

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

Otter Tail Stock Performance

The company has a current ratio of 2.17, a quick ratio of 1.66 and a debt-to-equity ratio of 0.58. The stock has a market cap of $3.08 billion, a PE ratio of 10.16 and a beta of 0.56. The business’s 50-day moving average price is $78.30 and its 200-day moving average price is $82.48.

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

Otter Tail Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th were paid a dividend of $0.468 per share. The ex-dividend date was Friday, November 15th. This represents a $1.87 dividend on an annualized basis and a dividend yield of 2.55%. Otter Tail’s payout ratio is 25.83%.

Institutional Investors Weigh In On Otter Tail

A number of large investors have recently made changes to their positions in OTTR. Caisse DE Depot ET Placement DU Quebec purchased a new position in shares of Otter Tail during the 3rd quarter valued at approximately $6,484,000. International Assets Investment Management LLC raised its position 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 acquiring an additional 74,212 shares during the period. Edgestream Partners L.P. boosted its stake in shares of Otter Tail by 2,055.2% during the 2nd quarter. Edgestream Partners L.P. now owns 67,695 shares of the utilities provider’s stock worth $5,929,000 after acquiring an additional 64,554 shares in the last quarter. Barclays PLC increased its stake in shares of Otter Tail by 359.8% in the 3rd quarter. Barclays PLC now owns 70,553 shares of the utilities provider’s stock valued at $5,514,000 after purchasing an additional 55,210 shares in the last quarter. Finally, Segall Bryant & Hamill LLC acquired a new position in Otter Tail in the 3rd quarter worth about $2,947,000. 61.32% of the stock is owned by hedge funds and other institutional investors.

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.