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

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

Analyst Ratings Changes

OTTR has been the subject of several analyst 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 upgraded Otter Tail from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 6th.

Otter Tail Stock Performance

The company has a market cap of $3.02 billion, a P/E ratio of 9.97 and a beta of 0.56. The business’s 50 day simple moving average is $77.87 and its 200 day simple moving average is $82.13. The company has a current ratio of 2.17, a quick ratio of 1.66 and a debt-to-equity ratio of 0.58.

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

Otter Tail Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Friday, November 15th were paid a dividend of $0.468 per share. This represents a $1.87 annualized dividend and a yield of 2.59%. The ex-dividend date was Friday, November 15th. Otter Tail’s dividend payout ratio (DPR) is presently 25.83%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hoese & Co LLP bought a new position in shares of Otter Tail during the third quarter worth $39,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Otter Tail during the third quarter valued at about $39,000. Allworth Financial LP increased its holdings in shares of Otter Tail by 132.8% in 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 during the last quarter. Quarry LP lifted its position 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 worth $59,000 after buying an additional 634 shares in the last quarter. Finally, KBC Group NV boosted its stake in Otter Tail by 27.9% during the third quarter. KBC Group NV now owns 1,248 shares of the utilities provider’s stock valued at $98,000 after buying an additional 272 shares during the last quarter. 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.