Foster & Motley Inc. Trims Stock Position in MDU Resources Group, Inc. (NYSE:MDU)

Foster & Motley Inc. trimmed its holdings in MDU Resources Group, Inc. (NYSE:MDU) by 2.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 39,453 shares of the utilities provider’s stock after selling 1,106 shares during the period. Foster & Motley Inc.’s holdings in MDU Resources Group were worth $990,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MDU. State Board of Administration of Florida Retirement System lifted its holdings in shares of MDU Resources Group by 29.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 280,244 shares of the utilities provider’s stock valued at $7,062,000 after buying an additional 63,403 shares during the period. Russell Investments Group Ltd. raised its position in MDU Resources Group by 17.0% during the first quarter. Russell Investments Group Ltd. now owns 401,619 shares of the utilities provider’s stock valued at $10,121,000 after acquiring an additional 58,220 shares in the last quarter. Meeder Asset Management Inc. lifted its holdings in MDU Resources Group by 58.2% in the first quarter. Meeder Asset Management Inc. now owns 54,111 shares of the utilities provider’s stock valued at $1,364,000 after acquiring an additional 19,916 shares during the period. SG Americas Securities LLC purchased a new stake in MDU Resources Group in the 2nd quarter worth approximately $2,198,000. Finally, Qsemble Capital Management LP acquired a new stake in shares of MDU Resources Group during the 4th quarter worth approximately $1,022,000. 71.44% of the stock is owned by institutional investors and hedge funds.

MDU Resources Group Price Performance

Shares of NYSE MDU opened at $24.94 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.15 and a current ratio of 1.22. The firm has a fifty day moving average of $25.38 and a 200 day moving average of $24.55. The firm has a market cap of $5.08 billion, a PE ratio of 10.66, a PEG ratio of 2.76 and a beta of 0.77. MDU Resources Group, Inc. has a one year low of $18.04 and a one year high of $27.30.

MDU Resources Group (NYSE:MDU) last released its earnings results on Thursday, August 8th. The utilities provider reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.11. MDU Resources Group had a net margin of 9.25% and a return on equity of 11.29%. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the previous year, the company earned $0.29 earnings per share. The company’s quarterly revenue was down 4.0% on a year-over-year basis. As a group, research analysts predict that MDU Resources Group, Inc. will post 1.55 EPS for the current fiscal year.

MDU Resources Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Thursday, September 12th will be issued a dividend of $0.13 per share. The ex-dividend date is Thursday, September 12th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.09%. This is a boost from MDU Resources Group’s previous quarterly dividend of $0.13. MDU Resources Group’s dividend payout ratio is presently 22.22%.

Analyst Ratings Changes

Several equities analysts recently issued reports on MDU shares. Argus upgraded shares of MDU Resources Group from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Monday, May 20th. StockNews.com lowered MDU Resources Group from a “buy” rating to a “hold” rating in a report on Friday, July 26th.

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.