Otter Tail Corp. (OTTR) Reaches New 12-Month High at $33.98
Otter Tail Corp. (NASDAQ:OTTR) hit a new 52-week high on Wednesday . The stock traded as high as $33.98 and last traded at $33.82, with a volume of 44,486 shares changing hands. The stock had previously closed at $33.81.
Separately, Zacks Investment Research raised shares of Otter Tail Corp. from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 13th.
The firm’s 50 day moving average is $31.27 and its 200 day moving average is $28.81. The stock has a market capitalization of $1.27 billion and a price-to-earnings ratio of 22.42.
Otter Tail Corp. (NASDAQ:OTTR) last issued its quarterly earnings results on Monday, May 2nd. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.07. The firm had revenue of $206.20 million for the quarter, compared to analysts’ expectations of $207.70 million. During the same period in the prior year, the firm earned $0.37 EPS. Otter Tail Corp.’s revenue for the quarter was up 1.7% compared to the same quarter last year. Equities analysts expect that Otter Tail Corp. will post $1.55 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, June 10th. Stockholders of record on Friday, May 13th were issued a $0.3125 dividend. This represents a $1.25 annualized dividend and a dividend yield of 3.76%. The ex-dividend date was Wednesday, May 11th.
Several institutional investors recently added to or reduced their stakes in OTTR. California Public Employees Retirement System increased its position 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 valued at $4,042,000 after buying an additional 17,200 shares during the period. Morgan Stanley increased its position in Otter Tail Corp. by 1.0% in the fourth quarter. Morgan Stanley now owns 96,445 shares of the company’s stock valued at $2,567,000 after buying an additional 923 shares during the period. California State Teachers Retirement System increased its position 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 valued at $1,851,000 after buying an additional 1,246 shares during the period. Finally, Rhumbline Advisers increased its position 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.
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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