Otter Tail (NASDAQ:OTTR) Reaches New 52-Week Low - Here's What Happened

Otter Tail Co. (NASDAQ:OTTR - Get Free Report)'s share price reached a new 52-week low on Thursday . The company traded as low as $73.22 and last traded at $73.41, with a volume of 43312 shares. The stock had previously closed at $73.84.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Siebert Williams Shank raised 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 research report on Thursday, November 14th.

Otter Tail Trading Down 1.9 %

The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.66 and a current ratio of 2.17. The firm has a market capitalization of $3.03 billion, a PE ratio of 10.00 and a beta of 0.54. The stock's 50-day simple moving average is $78.40 and its 200-day simple moving average is $82.58.

Otter Tail (NASDAQ:OTTR - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The utilities provider reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.97 by $0.06. Otter Tail had a net margin of 22.70% and a return on equity of 19.84%. The company had revenue of $338.03 million for the quarter, compared to analysts' expectations of $362.20 million. During the same quarter in the previous year, the company earned $2.19 earnings per share. As a group, sell-side analysts expect that Otter Tail Co. will post 7.13 EPS for the current fiscal year.

Otter Tail Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 15th were given 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 dividend yield of 2.58%. Otter Tail's dividend payout ratio is presently 25.83%.

Hedge Funds Weigh In On Otter Tail

A number of institutional investors have recently added to or reduced their stakes in OTTR. Franklin Resources Inc. boosted its holdings in shares of Otter Tail by 5.5% during the 3rd quarter. Franklin Resources Inc. now owns 34,547 shares of the utilities provider's stock valued at $2,714,000 after buying an additional 1,804 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Otter Tail during the third quarter worth about $39,000. Virtu Financial LLC purchased a new stake in Otter Tail in the third quarter worth about $711,000. Barclays PLC increased its stake in shares of Otter Tail by 359.8% during the third 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, Y Intercept Hong Kong Ltd purchased a new position in shares of Otter Tail during the third quarter valued at approximately $306,000. Institutional investors 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.