Advisory Services Network LLC Reduces Position in Mdu Resources Group Inc (NYSE:MDU)

Advisory Services Network LLC lowered its position in Mdu Resources Group Inc (NYSE:MDU) by 94.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 1,579 shares of the utilities provider’s stock after selling 25,054 shares during the period. Advisory Services Network LLC’s holdings in Mdu Resources Group were worth $40,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Tyers Asset Management LLC boosted its holdings in shares of Mdu Resources Group by 91.5% in the 1st quarter. Tyers Asset Management LLC now owns 41,344 shares of the utilities provider’s stock worth $1,068,000 after buying an additional 19,760 shares during the last quarter. State of Tennessee Treasury Department boosted its holdings in shares of Mdu Resources Group by 80.3% in the 1st quarter. State of Tennessee Treasury Department now owns 179,654 shares of the utilities provider’s stock worth $4,640,000 after buying an additional 80,000 shares during the last quarter. AlphaCrest Capital Management LLC lifted its holdings in Mdu Resources Group by 35.3% during the first quarter. AlphaCrest Capital Management LLC now owns 37,207 shares of the utilities provider’s stock valued at $961,000 after purchasing an additional 9,707 shares during the last quarter. Ontario Teachers Pension Plan Board purchased a new stake in Mdu Resources Group during the first quarter valued at about $810,000. Finally, AJO LP lifted its holdings in Mdu Resources Group by 19.8% during the first quarter. AJO LP now owns 790,082 shares of the utilities provider’s stock valued at $20,408,000 after purchasing an additional 130,694 shares during the last quarter. Hedge funds and other institutional investors own 66.38% of the company’s stock.

In other news, CEO David L. Goodin purchased 5,000 shares of the stock in a transaction dated Thursday, May 30th. The shares were purchased at an average cost of $24.45 per share, with a total value of $122,250.00. Following the completion of the acquisition, the chief executive officer now owns 254,466 shares in the company, valued at approximately $6,221,693.70. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Edward A. Ryan purchased 3,500 shares of the stock in a transaction dated Thursday, May 30th. The stock was purchased at an average cost of $24.81 per share, for a total transaction of $86,835.00. Following the completion of the acquisition, the director now owns 12,190 shares of the company’s stock, valued at approximately $302,433.90. The disclosure for this purchase can be found here. Over the last three months, insiders bought 11,000 shares of company stock worth $272,085. Insiders own 1.05% of the company’s stock.

Several research firms have commented on MDU. Zacks Investment Research downgraded shares of GreenTree Hospitality Group from a “buy” rating to a “hold” rating in a report on Monday, May 20th. Williams Capital set a $30.00 price objective on shares of Mdu Resources Group and gave the company a “buy” rating in a report on Thursday, May 2nd.

NYSE MDU traded down $0.31 during trading on Friday, hitting $26.21. 775,145 shares of the company’s stock traded hands, compared to its average volume of 859,564. The stock has a market capitalization of $5.25 billion, a PE ratio of 18.99, a price-to-earnings-growth ratio of 2.50 and a beta of 0.69. Mdu Resources Group Inc has a 12-month low of $22.73 and a 12-month high of $29.36. The company has a quick ratio of 0.87, a current ratio of 1.16 and a debt-to-equity ratio of 0.78. The business’s 50 day simple moving average is $25.79.

Mdu Resources Group (NYSE:MDU) last released its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $0.21 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.03). Mdu Resources Group had a net margin of 5.83% and a return on equity of 10.58%. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1,000.00 million. During the same period last year, the company earned $0.22 earnings per share. Mdu Resources Group’s revenue for the quarter was up 11.8% compared to the same quarter last year. On average, research analysts expect that Mdu Resources Group Inc will post 1.49 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Thursday, June 13th were issued a $0.2025 dividend. This represents a $0.81 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date was Wednesday, June 12th. Mdu Resources Group’s payout ratio is 58.70%.

Mdu Resources Group Profile

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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