Otter Tail (NASDAQ:OTTR) Hits New 52-Week Low - Time to Sell?

Shares of Otter Tail Co. (NASDAQ:OTTR - Get Free Report) reached a new 52-week low on Friday . The stock traded as low as $71.96 and last traded at $72.07, with a volume of 49463 shares. The stock had previously closed at $74.46.

Analysts Set New Price Targets

OTTR has been the topic of a number of research reports. StockNews.com upgraded Otter Tail from a "sell" rating to a "hold" rating in a research note on Thursday, November 14th. Siebert Williams Shank raised shares of Otter Tail from a "strong sell" rating to a "hold" rating in a research report on Wednesday, November 6th.

Otter Tail Trading Down 2.1 %

The firm has a 50-day simple moving average of $77.87 and a 200-day simple moving average of $82.13. The company has a quick ratio of 1.66, a current ratio of 2.17 and a debt-to-equity ratio of 0.58. The stock has a market cap of $3.05 billion, a PE ratio of 10.07 and a beta of 0.56.

Otter Tail (NASDAQ:OTTR - Get Free Report) last issued its earnings results on Monday, November 4th. The utilities provider reported $2.03 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 business had revenue of $338.03 million during the quarter, compared to the consensus estimate of $362.20 million. During the same quarter last year, the company earned $2.19 EPS. Equities analysts forecast that Otter Tail Co. will post 7.13 earnings per share for the current year.

Otter Tail Announces Dividend

The company also recently announced 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 2.57%. The ex-dividend date was Friday, November 15th. Otter Tail's dividend payout ratio is presently 25.83%.

Hedge Funds Weigh In On Otter Tail

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OTTR. Caisse DE Depot ET Placement DU Quebec purchased a new position in Otter Tail in the third quarter worth $6,484,000. International Assets Investment Management LLC lifted its stake in Otter Tail by 3,339.9% during the third quarter. International Assets Investment Management LLC now owns 76,434 shares of the utilities provider's stock worth $5,974,000 after purchasing an additional 74,212 shares during the last quarter. Edgestream Partners L.P. boosted its holdings in shares of Otter Tail by 2,055.2% in the 2nd quarter. Edgestream Partners L.P. now owns 67,695 shares of the utilities provider's stock worth $5,929,000 after purchasing an additional 64,554 shares in the last quarter. Barclays PLC increased its position in shares of Otter Tail by 359.8% during 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 during the last quarter. Finally, Segall Bryant & Hamill LLC purchased a new position in shares of Otter Tail during the 3rd quarter valued at about $2,947,000. 61.32% of the stock is currently owned by hedge funds and other institutional investors.

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.