Mdu Resources Group Inc (MDU) Stake Lowered by Virginia Retirement Systems ET AL

Virginia Retirement Systems ET AL lowered its position in shares of Mdu Resources Group Inc (NYSE:MDU) by 5.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 88,400 shares of the utilities provider’s stock after selling 4,800 shares during the quarter. Virginia Retirement Systems ET AL’s holdings in Mdu Resources Group were worth $2,283,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MDU. Larson Financial Group LLC acquired a new stake in Mdu Resources Group during the fourth quarter valued at approximately $25,000. Benjamin F. Edwards & Company Inc. raised its stake in Mdu Resources Group by 21.6% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 2,797 shares of the utilities provider’s stock valued at $67,000 after buying an additional 497 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in Mdu Resources Group by 2,284.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,839,065 shares of the utilities provider’s stock valued at $77,000 after buying an additional 1,761,923 shares in the last quarter. ETF Managers Group LLC raised its stake in Mdu Resources Group by 15.8% during the fourth quarter. ETF Managers Group LLC now owns 4,629 shares of the utilities provider’s stock valued at $110,000 after buying an additional 630 shares in the last quarter. Finally, Bremer Trust National Association acquired a new stake in Mdu Resources Group during the fourth quarter valued at approximately $149,000. Hedge funds and other institutional investors own 65.20% of the company’s stock.

In other Mdu Resources Group news, Director David M. Sparby bought 2,500 shares of the stock in a transaction that occurred on Friday, May 17th. The shares were purchased at an average cost of $25.20 per share, for a total transaction of $63,000.00. Following the transaction, the director now directly owns 7,908 shares in the company, valued at $199,281.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David M. Sparby bought 3,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average price of $25.75 per share, for a total transaction of $77,250.00. Following the completion of the transaction, the director now owns 4,726 shares in the company, valued at $121,694.50. The disclosure for this purchase can be found here. 1.05% of the stock is currently owned by corporate insiders.

Shares of Mdu Resources Group stock traded down $0.06 on Wednesday, reaching $25.38. 1,002,400 shares of the company were exchanged, compared to its average volume of 1,043,371. The company has a current ratio of 1.16, a quick ratio of 0.87 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $4.99 billion, a price-to-earnings ratio of 18.39, a PEG ratio of 2.37 and a beta of 0.67. Mdu Resources Group Inc has a 1-year low of $22.73 and a 1-year high of $29.62.

Mdu Resources Group (NYSE:MDU) last announced its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.03). The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1,000.00 million. Mdu Resources Group had a return on equity of 10.58% and a net margin of 5.83%. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.22 earnings per share. Sell-side analysts predict that Mdu Resources Group Inc will post 1.49 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Thursday, June 13th will be given a dividend of $0.2025 per share. This represents a $0.81 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date of this dividend is Wednesday, June 12th. Mdu Resources Group’s payout ratio is 58.70%.

Several brokerages have issued reports on MDU. Williams Capital set a $30.00 price objective on Mdu Resources Group and gave the company a “buy” rating in a research note on Thursday, May 2nd. Zacks Investment Research upgraded Mdu Resources Group from a “sell” rating to a “hold” rating in a research report on Monday.

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About Mdu Resources Group

MDU Resources Group, Inc engages in regulated energy delivery, and construction materials and services businesses in the United States. It operates through five segments: Electric, Natural Gas Distribution, Pipeline and Midstream, Construction Materials and Contracting, and Construction Services. The Electric segment generates, transmits, and distributes electricity in Montana, North Dakota, South Dakota, and Wyoming.

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Institutional Ownership by Quarter for Mdu Resources Group (NYSE:MDU)

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