Otter Tail (NASDAQ:OTTR) Hits New 12-Month Low - Should You Sell?

Otter Tail Co. (NASDAQ:OTTR - Get Free Report)'s share price hit a new 52-week low during trading 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.

Analyst Upgrades and Downgrades

OTTR has been the topic of a number of recent research reports. 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 shares of Otter Tail from a "sell" rating to a "hold" rating in a research note on Thursday, November 14th.

Otter Tail Price 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 business has a fifty day simple moving average of $79.18 and a 200 day simple moving average of $83.65. The stock has a market capitalization of $3.08 billion, a P/E ratio of 10.16 and a beta of 0.54.

Otter Tail (NASDAQ:OTTR - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The utilities provider reported $2.03 EPS for the quarter, beating analysts' consensus estimates of $1.97 by $0.06. The business had revenue of $338.03 million during the quarter, compared to analyst estimates 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 EPS. On average, analysts expect that Otter Tail Co. will post 7.13 earnings per share for the current year.

Otter Tail Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Friday, November 15th were given 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 2.54%. Otter Tail's dividend payout ratio (DPR) is currently 25.83%.

Institutional Investors Weigh In On Otter Tail

Hedge funds have recently bought and sold shares of the stock. Hoese & Co LLP bought a new stake in shares of Otter Tail in the 3rd quarter worth approximately $39,000. Wilmington Savings Fund Society FSB bought a new stake in Otter Tail in the third quarter worth $39,000. Allworth Financial LP boosted its position in Otter Tail by 132.8% during the third 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 grew its stake in shares of Otter Tail by 1,811.4% during the second 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 last quarter. Finally, Abound Wealth Management increased its holdings in shares of Otter Tail by 28,725.0% in the second quarter. Abound Wealth Management now owns 1,153 shares of the utilities provider's stock worth $101,000 after buying an additional 1,149 shares during the period. 61.32% of the stock is currently owned by 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.

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