State of Alaska Department of Revenue Has $1.92 Million Stock Holdings in Otter Tail Corporation $OTTR

State of Alaska Department of Revenue boosted its holdings in shares of Otter Tail Corporation (NASDAQ:OTTR) by 7.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,929 shares of the utilities provider’s stock after buying an additional 1,752 shares during the quarter. State of Alaska Department of Revenue owned about 0.06% of Otter Tail worth $1,921,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Byrne Asset Management LLC increased its position in Otter Tail by 54.8% during the first quarter. Byrne Asset Management LLC now owns 387 shares of the utilities provider’s stock worth $31,000 after buying an additional 137 shares during the last quarter. MJT & Associates Financial Advisory Group Inc. acquired a new position in Otter Tail during the first quarter worth $34,000. Goodman Advisory Group LLC acquired a new position in Otter Tail during the first quarter worth $54,000. Costello Asset Management INC acquired a new position in Otter Tail during the first quarter worth $66,000. Finally, USA Financial Formulas increased its position in Otter Tail by 53.5% during the first quarter. USA Financial Formulas now owns 1,202 shares of the utilities provider’s stock worth $97,000 after buying an additional 419 shares during the last quarter. 61.32% of the stock is owned by institutional investors and hedge funds.

Otter Tail Trading Down 1.2%

Otter Tail stock opened at $79.66 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 3.31 and a quick ratio of 2.57. The company has a market capitalization of $3.34 billion, a price-to-earnings ratio of 11.71 and a beta of 0.54. Otter Tail Corporation has a one year low of $71.66 and a one year high of $88.36. The company’s fifty day moving average price is $82.06 and its two-hundred day moving average price is $79.66.

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

Otter Tail Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Friday, August 15th were given a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend was Friday, August 15th. Otter Tail’s dividend payout ratio (DPR) is currently 30.88%.

Otter Tail 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.