Caxton Associates LLP Makes New Investment in MDU Resources Group, Inc. $MDU

Key Points

• Caxton Associates LLP acquired 143,648 shares of MDU Resources Group, valued at approximately $2.43 million, representing about 0.07% ownership as per its recent SEC filing.
• The CFO of MDU Resources Group, Jason L. Vollmer, purchased 5,000 shares at an average cost of $16.27 each, increasing his total holdings to 339,548 shares.
• MDU Resources Group announced an increase in its quarterly dividend to $0.14 per share, effective on October 1st, raising its annualized payout and yielding approximately 3.5%.

Caxton Associates LLP bought a new stake in MDU Resources Group, Inc. (NYSE:MDU - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 143,648 shares of the utilities provider's stock, valued at approximately $2,429,000. Caxton Associates LLP owned about 0.07% of MDU Resources Group as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Adage Capital Partners GP L.L.C. lifted its holdings in MDU Resources Group by 195.0% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,548,864 shares of the utilities provider's stock valued at $26,191,000 after acquiring an additional 1,023,864 shares during the period. Jacobs Levy Equity Management Inc. acquired a new position in MDU Resources Group in the first quarter valued at approximately $14,636,000. Hotchkis & Wiley Capital Management LLC acquired a new position in MDU Resources Group in the first quarter valued at approximately $12,361,000. Invesco Ltd. lifted its holdings in MDU Resources Group by 30.1% in the first quarter. Invesco Ltd. now owns 3,124,863 shares of the utilities provider's stock valued at $52,841,000 after acquiring an additional 723,560 shares during the period. Finally, Millennium Management LLC lifted its holdings in MDU Resources Group by 103.1% in the first quarter. Millennium Management LLC now owns 1,343,979 shares of the utilities provider's stock valued at $22,727,000 after acquiring an additional 682,098 shares during the period. Hedge funds and other institutional investors own 71.44% of the company's stock.

Insider Buying and Selling

In other news, CFO Jason L. Vollmer acquired 5,000 shares of MDU Resources Group stock in a transaction that occurred on Monday, September 8th. The stock was purchased at an average cost of $16.07 per share, with a total value of $80,350.00. Following the purchase, the chief financial officer owned 344,548 shares in the company, valued at $5,536,886.36. This trade represents a 1.47% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.94% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded MDU Resources Group from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $18.00.

MDU Resources Group Price Performance

Shares of MDU stock traded down $0.14 during trading hours on Friday, hitting $16.27. 1,059,381 shares of the company's stock were exchanged, compared to its average volume of 1,416,446. The company has a quick ratio of 0.71, a current ratio of 0.74 and a debt-to-equity ratio of 0.75. The firm has a market cap of $3.32 billion, a P/E ratio of 15.34, a P/E/G ratio of 2.57 and a beta of 0.70. The firm has a 50 day moving average of $16.65 and a two-hundred day moving average of $16.75. MDU Resources Group, Inc. has a fifty-two week low of $14.91 and a fifty-two week high of $30.52.

MDU Resources Group (NYSE:MDU - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.07 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.06). MDU Resources Group had a net margin of 8.25% and a return on equity of 8.29%. The firm had revenue of $351.20 million during the quarter, compared to analyst estimates of $315.67 million. During the same period in the prior year, the company posted $0.32 earnings per share. The firm's revenue for the quarter was up 1.9% compared to the same quarter last year. MDU Resources Group has set its FY 2025 guidance at 0.880-0.950 EPS. Sell-side analysts forecast that MDU Resources Group, Inc. will post 0.94 EPS for the current year.

MDU Resources Group Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Thursday, September 11th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Thursday, September 11th. This represents a $0.56 annualized dividend and a yield of 3.4%. This is an increase from MDU Resources Group's previous quarterly dividend of $0.13. MDU Resources Group's dividend payout ratio is currently 52.83%.

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.