Otter Tail (NASDAQ:OTTR) Hits New 52-Week Low – What’s Next?

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

Otter Tail Trading Up 0.4 %

The company has a debt-to-equity ratio of 0.60, a current ratio of 2.27 and a quick ratio of 1.67. The business’s 50-day simple moving average is $78.84 and its 200-day simple moving average is $85.71. The company has a market cap of $3.30 billion, a price-to-earnings ratio of 10.61 and a beta of 0.52.

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

Insider Transactions at Otter Tail

In other Otter Tail news, VP Jennifer O. Smestad sold 4,000 shares of Otter Tail stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $88.74, for a total transaction of $354,960.00. Following the transaction, the vice president now directly owns 12,300 shares in the company, valued at approximately $1,091,502. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.30% of the company’s stock.

Institutional Trading of Otter Tail

A number of institutional investors and hedge funds have recently made changes to their positions in OTTR. Jupiter Asset Management Ltd. bought a new position in Otter Tail during the first quarter worth $2,276,000. Janus Henderson Group PLC increased its holdings in shares of Otter Tail by 45.2% during the first quarter. Janus Henderson Group PLC now owns 29,765 shares of the utilities provider’s stock worth $2,572,000 after buying an additional 9,270 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Otter Tail in the 1st quarter worth approximately $590,000. Tidal Investments LLC raised its holdings in shares of Otter Tail by 320.5% in the first quarter. Tidal Investments LLC now owns 16,879 shares of the utilities provider’s stock valued at $1,458,000 after buying an additional 12,865 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System lifted its position in shares of Otter Tail by 113.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 41,199 shares of the utilities provider’s stock worth $3,560,000 after purchasing an additional 21,908 shares in the last quarter. Institutional investors and hedge funds 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.