Otter Tail (NASDAQ:OTTR) Hits New 1-Year Low – Time to Sell?

Otter Tail Corporation (NASDAQ:OTTR)’s share price hit a new 52-week low on Wednesday. The company traded as low as $77.75 and last traded at $77.6750, with a volume of 131,271 shares traded. The stock had previously closed at $79.77.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Weiss Ratings lowered Otter Tail from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, November 3rd. Wall Street Zen cut Otter Tail from a “hold” rating to a “sell” rating in a research note on Saturday, November 7th. Finally, Siebert Williams Shank upgraded Otter Tail from a “hold” rating to a “buy” rating and set a $91.00 target price for the company in a report on Wednesday, November 4th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $91.00.

Otter Tail Stock Performance

The business has a fifty day moving average of $87.65 and a 200-day moving average of $88.50. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.05 and a current ratio of 1.37. The company has a market capitalization of $3.16 billion, a P/E ratio of 17.97 and a beta of 0.42.

Otter Tail (NASDAQ:OTTR) last announced its quarterly earnings results on Monday, November 2nd. The utilities provider reported $1.41 EPS for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.14). Otter Tail had a net margin of 13.45% and a return on equity of 13.41%. The business had revenue of $320.51 million for the quarter, compared to the consensus estimate of $327.87 million. During the same quarter last year, the firm posted $1.86 EPS. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. Analysts anticipate that Otter Tail Corporation will post 5.96 earnings per share for the current fiscal year.

Otter Tail Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Friday, November 13th will be given a $0.5775 dividend. This represents a $2.31 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Friday, November 13th. Otter Tail’s dividend payout ratio is presently 55.13%.

Institutional Investors Weigh In On Otter Tail

Large investors have recently made changes to their positions in the business. Benjamin Edwards Inc. raised its position in shares of Otter Tail by 12.9% in the third quarter. Benjamin Edwards Inc. now owns 45,484 shares of the utilities provider’s stock valued at $4,004,000 after purchasing an additional 5,209 shares during the period. Whittier Trust Co. lifted its holdings in shares of Otter Tail by 0.6% during the 3rd quarter. Whittier Trust Co. now owns 99,541 shares of the utilities provider’s stock worth $8,706,000 after acquiring an additional 637 shares during the last quarter. Advisors Asset Management Inc. purchased a new stake in Otter Tail during the third quarter valued at about $132,000. Private Advisor Group LLC raised its holdings in shares of Otter Tail by 10.6% during the 3rd quarter. Private Advisor Group LLC now owns 8,569 shares of the utilities provider’s stock valued at $754,000 after buying an additional 821 shares in the last quarter. Finally, Global Retirement Partners LLC raised its stake in shares of Otter Tail by 205.8% during the third quarter. Global Retirement Partners LLC now owns 3,718 shares of the utilities provider’s stock worth $327,000 after acquiring an additional 2,502 shares in the last quarter. 61.32% of the stock is owned by hedge funds and other institutional investors.

Otter Tail Company Profile

Otter Tail Corporation is a diversified company based in Fergus Falls, Minnesota. Its businesses operate in the electric utility, manufacturing and plastics industries. Through Otter Tail Power Company, the corporation generates, transmits and distributes electricity to customers in parts of Minnesota, North Dakota and South Dakota. The utility traces its history to 1907. Its other businesses manufacture products such as metal components and fabricated assemblies, as well as plastic products for commercial and industrial applications.