Otter Tail Corp. (NASDAQ:OTTR)’s share price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $33.99 and last traded at $33.86, with a volume of 63,375 shares trading hands. The stock had previously closed at $33.67.

Separately, Zacks Investment Research upgraded shares of Otter Tail Corp. from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 13th.

The stock has a market cap of $1.29 billion and a P/E ratio of 22.84. The stock has a 50 day moving average of $31.97 and a 200-day moving average of $29.04.

Otter Tail Corp. (NASDAQ:OTTR) last posted its quarterly earnings results on Monday, May 2nd. The company reported $0.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.07. The company had revenue of $206.20 million for the quarter, compared to analyst estimates of $207.70 million. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period last year, the firm earned $0.37 EPS. Equities analysts predict that Otter Tail Corp. will post $1.55 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers increased its stake in Otter Tail Corp. by 1.0% in the fourth quarter. Rhumbline Advisers now owns 55,435 shares of the company’s stock valued at $1,476,000 after buying an additional 535 shares during the period. California State Teachers Retirement System increased its stake in Otter Tail Corp. by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 69,506 shares of the company’s stock worth $1,851,000 after buying an additional 1,246 shares during the last quarter. Morgan Stanley increased its stake in Otter Tail Corp. by 1.0% in the fourth quarter. Morgan Stanley now owns 96,445 shares of the company’s stock worth $2,567,000 after buying an additional 923 shares during the last quarter. California Public Employees Retirement System increased its stake in Otter Tail Corp. by 12.8% in the fourth quarter. California Public Employees Retirement System now owns 151,800 shares of the company’s stock worth $4,042,000 after buying an additional 17,200 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Otter Tail Corp. by 1.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 980,986 shares of the company’s stock worth $26,124,000 after buying an additional 17,250 shares during the last quarter.

Otter Tail Corporation is a holding company. The Company, through its subsidiaries, operates through three segments: Electric, Manufacturing and Plastics. The Company’s subsidiaries own facilities and equipment used in the manufacture of producing polyvinyl chloride (PVC) pipe, thermoformed products, heavy metal fabricated products, metal parts stamping, fabricating, painting and contract machining.

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