Otter Tail (NASDAQ:OTTR) Sets New 12-Month Low - Here's Why

Otter Tail Co. (NASDAQ:OTTR - Get Free Report) shares reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $73.43 and last traded at $76.09, with a volume of 23401 shares traded. The stock had previously closed at $78.53.

Otter Tail Trading Up 3.8 %

The company has a market capitalization of $3.41 billion, a price-to-earnings ratio of 10.61 and a beta of 0.52. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.67 and a current ratio of 2.27. The firm has a fifty day moving average price of $78.84 and a 200-day moving average price of $85.71.

Otter Tail (NASDAQ:OTTR - Get Free Report) last released its earnings results on Monday, November 4th. The utilities provider reported $2.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.97 by $0.06. The company had revenue of $338.03 million for the quarter, compared to analyst estimates of $362.20 million. Otter Tail had a return on equity of 21.06% and a net margin of 22.84%. During the same period in the prior year, the firm posted $2.19 EPS. As a group, equities analysts anticipate that Otter Tail Co. will post 7.01 EPS for the current year.

Insider Buying and Selling

In related news, VP Jennifer O. Smestad sold 4,000 shares of the company's stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $88.74, for a total transaction of $354,960.00. Following the completion of the sale, the vice president now directly owns 12,300 shares in the company, valued at $1,091,502. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.30% of the stock is owned by corporate insiders.

Institutional Trading of Otter Tail

Several institutional investors and hedge funds have recently modified their holdings of OTTR. Atticus Wealth Management LLC bought a new position in Otter Tail in the second quarter valued at about $33,000. Hoese & Co LLP bought a new position in Otter Tail in the third quarter valued at about $39,000. Allworth Financial LP raised its position in Otter Tail by 132.8% in the third quarter. Allworth Financial LP now owns 547 shares of the utilities provider's stock valued at $43,000 after purchasing an additional 312 shares during the last quarter. GAMMA Investing LLC raised its position in Otter Tail by 46.3% in the second quarter. GAMMA Investing LLC now owns 657 shares of the utilities provider's stock valued at $58,000 after purchasing an additional 208 shares during the last quarter. Finally, Quarry LP raised its position in 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 last quarter. 61.32% of the stock is currently owned by 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.