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

Otter Tail Co. (NASDAQ:OTTR) hit 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 traded. The stock had previously closed at $74.46.

Wall Street Analysts Forecast Growth

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

Otter Tail Stock Down 2.1 %

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 stock has a market cap of $3.05 billion, a price-to-earnings ratio of 10.07 and a beta of 0.56. The firm’s 50-day moving average is $77.77 and its 200 day moving average is $82.01.

Otter Tail (NASDAQ:OTTR) last issued its earnings results 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 firm had revenue of $338.03 million for the quarter, compared to analysts’ expectations of $362.20 million. Otter Tail had a return on equity of 19.84% and a net margin of 22.70%. During the same quarter last year, the firm earned $2.19 earnings per share. Sell-side analysts anticipate that Otter Tail Co. will post 7.13 earnings per share for the current fiscal year.

Otter Tail Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Friday, November 15th were paid a dividend of $0.468 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.87 annualized dividend and a yield of 2.57%. Otter Tail’s dividend payout ratio is currently 25.83%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Hoese & Co LLP purchased a new stake in shares of Otter Tail during the 3rd quarter valued at about $39,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Otter Tail during the third quarter valued at approximately $39,000. Allworth Financial LP lifted its position in shares of 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 in the last quarter. Quarry LP boosted its stake in shares of Otter Tail by 1,811.4% in the second quarter. Quarry LP now owns 669 shares of the utilities provider’s stock valued at $59,000 after purchasing an additional 634 shares during the period. Finally, Abound Wealth Management grew its holdings in Otter Tail by 28,725.0% during the 2nd quarter. Abound Wealth Management now owns 1,153 shares of the utilities provider’s stock valued at $101,000 after purchasing an additional 1,149 shares in the last quarter. Institutional investors and hedge funds 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.