Dynamic Technology Lab Private Ltd Grows Stake 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 raised its holdings 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 filing with the Securities and Exchange Commission. The fund owned 9,880 shares of the utilities provider's stock after purchasing 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.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Byrne Asset Management LLC lifted its holdings in shares of Otter Tail by 54.8% during the 1st quarter. Byrne Asset Management LLC now owns 387 shares of the utilities provider's stock valued at $31,000 after buying an additional 137 shares during the period. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of Otter Tail during the 1st quarter valued at $34,000. Vermillion Wealth Management Inc. bought a new position in shares of Otter Tail during the 4th quarter valued at $36,000. AdvisorNet Financial Inc lifted its holdings in shares of Otter Tail by 120.0% during the 1st quarter. AdvisorNet Financial Inc now owns 550 shares of the utilities provider's stock valued at $44,000 after buying an additional 300 shares during the period. Finally, Studio Investment Management LLC bought a new position in shares of Otter Tail during the 4th quarter valued at $50,000. 61.32% of the stock is owned by institutional investors.

Otter Tail Stock Performance

Shares of NASDAQ OTTR traded down $0.89 during midday trading on Friday, hitting $83.11. 133,328 shares of the stock traded hands, compared to its average volume of 138,335. The firm has a 50-day moving average of $80.82 and a two-hundred day moving average of $79.51. The firm has a market capitalization of $3.48 billion, a P/E ratio of 12.22 and a beta of 0.57. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.57 and a current ratio of 3.31. Otter Tail Corporation has a one year low of $71.66 and a one year high of $88.36.

Otter Tail (NASDAQ:OTTR - Get Free Report) last released its earnings results on Monday, August 4th. The utilities provider reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.11. The company had revenue of $333.04 million for the quarter, compared to the consensus estimate of $329.60 million. Otter Tail had a return on equity of 16.85% and a net margin of 21.82%.Otter Tail's quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.07 earnings per share. 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 fiscal year.

Otter Tail Announces Dividend

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

About Otter Tail

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.