Dynamic Technology Lab Private Ltd Raises Holdings in Otter Tail Corporation $OTTR

Key Points

• Dynamic Technology Lab Private Ltd increased its stake in Otter Tail Corporation by 111.5% during Q1, holding a total of 9,880 shares valued at approximately $794,000.
• Otter Tail reported earnings of $1.85 earnings per share (EPS) for the last quarter, exceeding estimates and setting a guidance for FY 2025 EPS between 6.060-6.46.
• The company declared a quarterly dividend of $0.525 per share, with an annualized yield of 2.5%, scheduled for distribution on September 10th.

Dynamic Technology Lab Private Ltd lifted its stake in shares of Otter Tail Corporation (NASDAQ:OTTR - Free Report) by 111.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,880 shares of the utilities provider's stock after buying an additional 5,209 shares during the period. Dynamic Technology Lab Private Ltd's holdings in Otter Tail were worth $794,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of OTTR. Stifel Financial Corp boosted its position in Otter Tail by 11.4% in the fourth quarter. Stifel Financial Corp now owns 3,389 shares of the utilities provider's stock worth $250,000 after purchasing an additional 348 shares during the last quarter. BNP Paribas Financial Markets boosted its position in Otter Tail by 19.5% in the fourth quarter. BNP Paribas Financial Markets now owns 22,151 shares of the utilities provider's stock worth $1,636,000 after purchasing an additional 3,618 shares during the last quarter. Bank of America Corp DE boosted its position in Otter Tail by 25.7% in the fourth quarter. Bank of America Corp DE now owns 226,126 shares of the utilities provider's stock worth $16,697,000 after purchasing an additional 46,236 shares during the last quarter. Balyasny Asset Management L.P. boosted its position in Otter Tail by 43.2% in the fourth quarter. Balyasny Asset Management L.P. now owns 47,953 shares of the utilities provider's stock worth $3,541,000 after purchasing an additional 14,465 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its position in Otter Tail by 28.8% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 82,315 shares of the utilities provider's stock worth $6,078,000 after purchasing an additional 18,426 shares during the last quarter. Hedge funds and other institutional investors own 61.32% of the company's stock.

Otter Tail Stock Performance

OTTR stock traded down $0.89 during midday trading on Friday, hitting $83.11. The company's stock had a trading volume of 133,328 shares, compared to its average volume of 133,615. The stock's 50-day moving average price is $80.82 and its 200 day moving average price is $79.50. The company has a quick ratio of 2.57, a current ratio of 3.31 and a debt-to-equity ratio of 0.59. Otter Tail Corporation has a 1 year low of $71.66 and a 1 year high of $88.36. The stock has a market cap of $3.48 billion, a price-to-earnings ratio of 12.22 and a beta of 0.57.

Otter Tail (NASDAQ:OTTR - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The utilities provider reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.11. Otter Tail had a return on equity of 16.85% and a net margin of 21.82%.The business had revenue of $333.04 million for the quarter, compared to analysts' expectations of $329.60 million. During the same quarter in the previous year, the firm earned $2.07 earnings per share. The business's revenue was down 2.7% on a year-over-year basis. Otter Tail has set its FY 2025 guidance at 6.060-6.46 EPS. On average, equities analysts forecast that Otter Tail Corporation will post 5.88 EPS for the current year.

Otter Tail Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th were given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Friday, August 15th. Otter Tail's dividend payout ratio is currently 30.88%.

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.