Otter Tail Corporation (OTTR) Bundle
A Brief History of Otter Tail Corporation (OTTR)
Company Overview
Otter Tail Corporation (OTTR) is a diversified business headquartered in Fergus Falls, Minnesota. As of 2024, the company operates through three primary business segments: Electric Utility, Transmission, and Manufacturing.
Financial Performance
| Financial Metric | 2023 Value |
|---|---|
| Total Revenue | $1.12 billion |
| Net Income | $98.4 million |
| Market Capitalization | $2.3 billion |
| Dividend Yield | 3.2% |
Business Segments
- Electric Utility: Serves approximately 135,000 customers in Minnesota, North Dakota, and South Dakota
- Transmission: Owns and operates electric transmission infrastructure
- Manufacturing: Produces specialized equipment through several subsidiary companies
Key Manufacturing Subsidiaries
| Subsidiary | Primary Products | Annual Revenue |
|---|---|---|
| Variax Composites | Composite materials | $87.6 million |
| Koronis Plastics | Plastic components | $62.3 million |
Stock Performance
Stock Ticker: OTTR
52-Week Stock Price Range: $52.14 - $67.89
Current Stock Price (as of January 2024): $59.42
Renewable Energy Investments
- Total renewable energy generation capacity: 225 MW
- Wind energy projects: 175 MW
- Solar energy projects: 50 MW
Employee Information
Total Employees: 4,750
Headquarters Location: Fergus Falls, Minnesota
A Who Owns Otter Tail Corporation (OTTR)
Major Institutional Shareholders
| Shareholder | Shares Owned | Percentage |
|---|---|---|
| The Vanguard Group, Inc. | 3,140,901 | 11.2% |
| BlackRock Inc. | 2,687,159 | 9.6% |
| State Street Corporation | 1,842,706 | 6.6% |
Top Insider Ownership
- Charles S. MacLean (President and CEO): 159,178 shares
- Timothy J. Rogelstad (SVP and CFO): 62,337 shares
- Kevin G. Moug (EVP and COO): 57,221 shares
Ownership Distribution
Public Float: 27,950,000 shares
Total Shares Outstanding: 28,100,000 shares
Institutional Ownership Percentage
Total institutional ownership: 68.3%
Otter Tail Corporation (OTTR) Mission Statement
Company Overview
Otter Tail Corporation (OTTR) operates as a diversified business with operations in electric utility, manufacturing, and other sectors. As of 2024, the company is headquartered in Fergus Falls, Minnesota.
Financial Performance
| Financial Metric | 2023 Value |
|---|---|
| Total Revenue | $1.06 billion |
| Net Income | $95.4 million |
| Market Capitalization | $2.8 billion |
| Dividend Yield | 3.2% |
Business Segments
- Electric Utility
- Manufacturing
- Plastics
- Health Services
Key Business Strategy
Diversification across multiple industries with focus on sustainable growth and operational efficiency.
Operational Metrics
| Segment | Revenue Contribution |
|---|---|
| Electric Utility | 52% |
| Manufacturing | 28% |
| Plastics | 15% |
| Health Services | 5% |
Environmental Commitment
Committed to reducing carbon emissions by 50% by 2030 compared to 2005 baseline.
How Otter Tail Corporation (OTTR) Works
Company Overview
Otter Tail Corporation is a diversified utility and manufacturing company headquartered in Fergus Falls, Minnesota. As of 2024, the company operates through three primary business segments: Electric, Manufacturing, and Investments.
Electric Utility Segment
The Electric segment serves approximately 135,000 customers across Minnesota, North Dakota, and South Dakota. Key financial metrics include:
| Electric Segment Metric | 2023 Value |
|---|---|
| Total Electric Utility Revenue | $373.4 million |
| Service Area | 10,600 square miles |
| Transmission Lines | 2,945 miles |
Manufacturing Segment
The Manufacturing segment consists of several businesses:
- BakeMax - Commercial bakery equipment manufacturer
- Precision Engineered Products - Custom manufacturing solutions
- Plastic Components - Injection molding and manufacturing
| Manufacturing Segment Metric | 2023 Value |
|---|---|
| Total Manufacturing Revenue | $240.2 million |
| Number of Manufacturing Facilities | 7 |
Financial Performance
Financial highlights for Otter Tail Corporation in 2023:
| Financial Metric | 2023 Value |
|---|---|
| Total Revenue | $1.1 billion |
| Net Income | $86.3 million |
| Market Capitalization | $2.9 billion |
| Dividend Yield | 3.2% |
Renewable Energy Investments
Otter Tail Corporation has invested in renewable energy projects, with 45 MW of wind generation capacity and ongoing development of solar energy resources.
Operational Locations
- Headquarters: Fergus Falls, Minnesota
- Electric Utility Service: Minnesota, North Dakota, South Dakota
- Manufacturing Facilities: Multiple U.S. locations
How Otter Tail Corporation (OTTR) Makes Money
Electric Segment
Otter Tail Corporation generates electricity through its electric utility operations in North Dakota, Minnesota, and South Dakota. As of 2022 financial data:
| Electric Utility Service Area | Number of Customers | Annual Electric Revenue |
|---|---|---|
| North Dakota | 61,300 | $188.4 million |
| Minnesota | 64,500 | $212.6 million |
| South Dakota | 22,100 | $73.2 million |
Power Generation Mix
- Coal: 38%
- Natural Gas: 27%
- Wind: 25%
- Hydroelectric: 10%
Transmission and Distribution
Total electric transmission lines: 2,873 miles Total distribution lines: 14,627 miles
Manufacturing Segment
| Product Category | Annual Revenue | Key Markets |
|---|---|---|
| Plastics Manufacturing | $367.5 million | Agriculture, Construction |
| Specialty Manufacturers | $212.3 million | Industrial Equipment |
Financial Performance
Total Company Revenue (2022): $1.14 billion Net Income (2022): $146.3 million Total Assets: $2.6 billion
Geographic Segments
- North Dakota: 42% of revenue
- Minnesota: 38% of revenue
- South Dakota: 20% of revenue
Renewable Energy Investments
Total Wind Capacity: 475 MW Annual Renewable Energy Investment: $87.6 million
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