Rhumbline Advisers Lowers Stock Holdings in MDU Resources Group, Inc. (NYSE:MDU)

Rhumbline Advisers lowered its holdings in shares of MDU Resources Group, Inc. (NYSE:MDU) by 3.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 492,478 shares of the utilities provider’s stock after selling 15,145 shares during the quarter. Rhumbline Advisers owned approximately 0.24% of MDU Resources Group worth $8,328,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of MDU. Principal Securities Inc. boosted its position in MDU Resources Group by 164.4% during the fourth quarter. Principal Securities Inc. now owns 1,470 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 914 shares in the last quarter. V Square Quantitative Management LLC boosted its position in MDU Resources Group by 99.6% during the fourth quarter. V Square Quantitative Management LLC now owns 1,834 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 915 shares in the last quarter. Atlas Capital Advisors Inc. boosted its position in MDU Resources Group by 84.4% during the fourth quarter. Atlas Capital Advisors Inc. now owns 2,487 shares of the utilities provider’s stock worth $45,000 after purchasing an additional 1,138 shares in the last quarter. Johnson Financial Group Inc. purchased a new position in MDU Resources Group during the fourth quarter worth approximately $54,000. Finally, Blue Trust Inc. boosted its position in MDU Resources Group by 27.7% during the fourth quarter. Blue Trust Inc. now owns 3,747 shares of the utilities provider’s stock worth $68,000 after purchasing an additional 812 shares in the last quarter. Hedge funds and other institutional investors own 71.44% of the company’s stock.

MDU Resources Group Price Performance

Shares of MDU Resources Group stock opened at $16.76 on Wednesday. The business has a 50 day simple moving average of $16.89 and a two-hundred day simple moving average of $17.46. MDU Resources Group, Inc. has a 12 month low of $13.23 and a 12 month high of $20.39. The stock has a market capitalization of $3.42 billion, a P/E ratio of 12.14, a PEG ratio of 2.76 and a beta of 0.72. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.15 and a quick ratio of 1.07.

MDU Resources Group (NYSE:MDU) last announced its earnings results on Thursday, May 8th. The utilities provider reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. MDU Resources Group had a return on equity of 10.20% and a net margin of 7.31%. The business had revenue of $674.80 million during the quarter, compared to analysts’ expectations of $653.13 million. During the same quarter in the prior year, the firm earned $0.52 earnings per share. The business’s revenue was up 14.7% compared to the same quarter last year. As a group, analysts predict that MDU Resources Group, Inc. will post 0.94 EPS for the current fiscal year.

MDU Resources Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Thursday, June 12th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.10%. MDU Resources Group’s payout ratio is currently 40.31%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded MDU Resources Group from a “sell” rating to a “hold” rating in a research report on Monday, May 12th.

MDU Resources Group Company Profile

MDU Resources Group, Inc engages in the regulated energy delivery, and construction materials and services businesses in the United States. It operates through four segments: Electric, Natural Gas Distribution, Pipeline, and Construction Services. The Electric segment generates, transmits, and distributes electricity for residential, commercial, industrial, and municipal customers in Montana, North Dakota, South Dakota, and Wyoming; and operates 3,400 miles of transmission lines, 4,800 miles of distribution lines, and 82 transmission and 298 distribution substations.