New York State Teachers Retirement System cut its stake in MDU Resources Group, Inc. (NYSE:MDU) by 0.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 399,825 shares of the utilities provider’s stock after selling 1,300 shares during the period. New York State Teachers Retirement System’s holdings in MDU Resources Group were worth $10,943,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of MDU. Vanguard Group Inc. increased its position in MDU Resources Group by 17.7% in the first quarter. Vanguard Group Inc. now owns 22,988,073 shares of the utilities provider’s stock valued at $629,183,000 after buying an additional 3,465,196 shares during the last quarter. Parnassus Investments CA increased its position in MDU Resources Group by 5.4% in the first quarter. Parnassus Investments CA now owns 14,628,855 shares of the utilities provider’s stock valued at $388,561,000 after buying an additional 753,328 shares during the last quarter. State Street Corp increased its position in MDU Resources Group by 10.9% in the fourth quarter. State Street Corp now owns 13,420,759 shares of the utilities provider’s stock valued at $386,121,000 after buying an additional 1,315,574 shares during the last quarter. Bank of New York Mellon Corp increased its position in MDU Resources Group by 29.0% in the first quarter. Bank of New York Mellon Corp now owns 4,564,740 shares of the utilities provider’s stock valued at $124,937,000 after buying an additional 1,025,203 shares during the last quarter. Finally, Norges Bank acquired a new position in MDU Resources Group during the fourth quarter valued at $52,324,000. Institutional investors and hedge funds own 63.87% of the company’s stock.
MDU Resources Group, Inc. (NYSE:MDU) traded up 1.78% on Friday, reaching $27.51. The company’s stock had a trading volume of 812,254 shares. The firm has a 50-day moving average of $26.65 and a 200 day moving average of $27.50. The company has a market capitalization of $5.37 billion, a price-to-earnings ratio of 70.54 and a beta of 0.87. MDU Resources Group, Inc. has a 12-month low of $22.47 and a 12-month high of $29.92.
MDU Resources Group (NYSE:MDU) last issued its quarterly earnings results on Wednesday, May 3rd. The utilities provider reported $0.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.01. The firm had revenue of $937.90 million for the quarter, compared to analyst estimates of $921.39 million. MDU Resources Group had a return on equity of 10.47% and a net margin of 1.83%. During the same period in the previous year, the company posted $0.17 earnings per share. On average, equities research analysts anticipate that MDU Resources Group, Inc. will post $1.20 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, July 1st. Shareholders of record on Thursday, June 8th will be paid a dividend of $0.1925 per share. This represents a $0.77 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date of this dividend is Tuesday, June 6th. MDU Resources Group’s dividend payout ratio (DPR) is currently 202.64%.
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Separately, Zacks Investment Research downgraded MDU Resources Group from a “hold” rating to a “sell” rating in a research note on Saturday, May 13th.
MDU Resources Group Company Profile
MDU Resources Group, Inc is a diversified natural resource company. Montana-Dakota Utilities Co (Montana-Dakota) is a public utility division of the Company. Montana-Dakota, through the electric and natural gas distribution segments, generates, transmits and distributes electricity and distributes natural gas.
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