Advisors Asset Management Inc. Has $3.21 Million Stake in MDU Resources Group, Inc. $MDU

Key Points

• Advisors Asset Management Inc. reduced its stake in MDU Resources Group by 31.9%, selling 88,809 shares during the first quarter, and now holds 189,510 shares valued at approximately $3.2 million.
• MDU Resources Group announced a quarterly dividend increase to $0.14 per share from the previous $0.13, reflecting a dividend yield of 3.5%.
• MDU's stock has been downgraded from a "hold" to a "sell" rating by Wall Street Zen, highlighting concerns amid recent earnings that missed analyst expectations.

Advisors Asset Management Inc. trimmed its holdings in MDU Resources Group, Inc. (NYSE:MDU - Free Report) by 31.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 189,510 shares of the utilities provider's stock after selling 88,809 shares during the quarter. Advisors Asset Management Inc. owned 0.09% of MDU Resources Group worth $3,205,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Adage Capital Partners GP L.L.C. raised its position in shares of MDU Resources Group by 195.0% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 1,548,864 shares of the utilities provider's stock worth $26,191,000 after purchasing an additional 1,023,864 shares during the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new stake in MDU Resources Group in the 1st quarter valued at approximately $12,361,000. Invesco Ltd. increased its holdings in MDU Resources Group by 30.1% in the 1st quarter. Invesco Ltd. now owns 3,124,863 shares of the utilities provider's stock valued at $52,841,000 after purchasing an additional 723,560 shares during the last quarter. Nuveen LLC acquired a new position in shares of MDU Resources Group in the first quarter worth $10,826,000. Finally, Bragg Financial Advisors Inc grew its stake in shares of MDU Resources Group by 107.2% in the first quarter. Bragg Financial Advisors Inc now owns 1,219,676 shares of the utilities provider's stock worth $20,625,000 after acquiring an additional 630,961 shares in the last quarter. 71.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other MDU Resources Group news, CFO Jason L. Vollmer bought 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, for a total transaction of $80,350.00. Following the completion of the acquisition, the chief financial officer owned 344,548 shares of the company's stock, valued at approximately $5,536,886.36. This represents a 1.47% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.94% of the stock is owned by company insiders.

MDU Resources Group Stock Down 0.8%

MDU Resources Group stock traded down $0.14 during trading on Friday, reaching $16.27. 1,059,381 shares of the company's stock were exchanged, compared to its average volume of 1,463,857. The company's 50-day moving average is $16.65 and its two-hundred day moving average is $16.75. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.71 and a current ratio of 0.74. MDU Resources Group, Inc. has a 52-week low of $14.91 and a 52-week high of $30.52. The firm has a market cap of $3.32 billion, a price-to-earnings ratio of 15.34, a PEG ratio of 2.60 and a beta of 0.70.

MDU Resources Group (NYSE:MDU - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.07 earnings per share for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $315.67 million. During the same period in the previous year, the company earned $0.32 earnings per share. The business's quarterly revenue was up 1.9% on a year-over-year basis. MDU Resources Group has set its FY 2025 guidance at 0.880-0.950 EPS. On average, analysts predict that MDU Resources Group, Inc. will post 0.94 earnings per share for the current year.

MDU Resources Group Increases Dividend

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

Analyst Ratings Changes

Separately, Wall Street Zen cut shares of MDU Resources Group from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, MDU Resources Group presently has a consensus rating of "Moderate Buy" and an average price target of $18.00.

MDU Resources Group 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.