The stock is trading at $46.15 which is marginally higher than $43.96, the stock’s 50 day moving average and much higher than the 200 day moving average of $40.97. The 50 day moving average was up $2.19 or +4.97% and the 200 day average went up $5.18 or +12.64%. Trading volume for Otter Tail Corporation was 2,491 in the last trading session. Trading volume was down 97.73% under the stocks average daily volume.
Short traders are feeling a little more bullish on the company lately if you take note of the fall in short interest. The stock experienced a fall in short interest of -22.47% as of September 29, 2017 from the last reporting period. Short interest fell 106,868 over that timeframe. The days to cover decreased to 5.0 and the percentage of shorted shares is 0.01% as of September 29.
These funds have shifted positions in (OTTR). As of quarter end Acadian Asset Management LLC had disposed of a total of 38,295 shares trimming its stake by 62.6%. The value in dollars went from $2,422,000 to $990,000 a change of 59.1% quarter to quarter. Cutler Group LP divested its investment by selling 179 shares a decrease of 59.7% in the quarter. Cutler Group LP claims 121 shares worth $5,000. The value of the position overall is up by inf%.
Nisa Investment Advisors, LLC downsized its stake by shedding 6,000 shares a decrease of 49.1% as of 09/30/2017. Nisa Investment Advisors, LLC now controls 6,220 shares with a value of $270,000. The total value of its holdings decreased 44.4%. As of the end of the quarter Bowling Portfolio Management LLC had bought 3,331 shares growing its position 9.8%. The value of the investment in Otter Tail Corporation increased from $1,351,000 to $1,623,000 increasing 20.1% for the reporting period.
The company is trading down by 0.43%% since yesterday’s close of 46.35. The company announced a dividend that was paid on Sat Sep 9, 2017. The dividend payment was $0.320 per share for the quarter or $1.28 on an annualized basis. This dividend amount represented a yield of $2.79. The ex-dividend date was set for Friday the 11th of August 2017.
Otter Tail Corporation currently has a P/E ratio of 26.57 and market cap is 1.83B. In the latest earnings report the EPS was $1.74 and is projected to be $1.75 for the current year with 39,557,000 shares presently outstanding. Analysts expect next quarter’s EPS will be $0.46 and the next full year EPS is projected to be $1.86.
Otter Tail Corporation, launched on June 17, 2009, is a holding company. The Company operates through three segments: Electric, Manufacturing and Plastics. The Company and its subsidiaries conduct business primarily in the United States. The Business’s subsidiaries own facilities and equipment used in the manufacture of polyvinyl chloride (PVC) pipe, thermoformed products, heavy metal fabricated products, metal parts stamping, fabricating, painting and contract machining. The Business’s manufacturing and plastic pipe businesses are owned by its subsidiary, Varistar Corporation (Varistar)..