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Cubist Systematic Strategies LLC Has $8.78 Million Holdings in MDU Resources Group, Inc. $MDU

MDU Resources Group logo with Utilities background

Key Points

  • Cubist Systematic Strategies LLC significantly increased its holdings in MDU Resources Group by 178.3%, owning 519,146 shares valued at approximately $8.78 million now.
  • MDU Resources Group declared a quarterly dividend of $0.14, reflecting a 7.7% increase from its previous dividend and presenting a 3.4% yield for shareholders.
  • Analyst ratings for MDU have mixed signals, as it was downgraded from "hold" to "sell" recently, while still holding a consensus rating of "Moderate Buy" with an average price target of $18.00.
  • MarketBeat previews the top five stocks to own by October 1st.

Cubist Systematic Strategies LLC increased its position in shares of MDU Resources Group, Inc. (NYSE:MDU - Free Report) by 178.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 519,146 shares of the utilities provider's stock after buying an additional 332,625 shares during the period. Cubist Systematic Strategies LLC owned 0.25% of MDU Resources Group worth $8,779,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Bessemer Group Inc. raised its stake in MDU Resources Group by 179.0% during the first quarter. Bessemer Group Inc. now owns 1,518 shares of the utilities provider's stock worth $25,000 after buying an additional 974 shares during the last quarter. GAMMA Investing LLC raised its stake in MDU Resources Group by 241.9% during the first quarter. GAMMA Investing LLC now owns 1,843 shares of the utilities provider's stock worth $31,000 after buying an additional 1,304 shares during the last quarter. Headlands Technologies LLC bought a new position in MDU Resources Group during the first quarter worth $48,000. Wood Tarver Financial Group LLC bought a new position in MDU Resources Group during the fourth quarter worth $82,000. Finally, Garde Capital Inc. bought a new position in MDU Resources Group during the first quarter worth $82,000. Institutional investors own 71.44% of the company's stock.

MDU Resources Group Trading Down 0.9%

MDU opened at $16.27 on Tuesday. MDU Resources Group, Inc. has a 1-year low of $14.91 and a 1-year high of $30.52. The company has a current ratio of 0.74, a quick ratio of 0.71 and a debt-to-equity ratio of 0.75. The company has a market cap of $3.33 billion, a P/E ratio of 15.35, a price-to-earnings-growth ratio of 2.58 and a beta of 0.70. The company has a fifty day moving average price of $16.71 and a two-hundred day moving average price of $16.78.

MDU Resources Group (NYSE:MDU - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.07 earnings per share 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 company had revenue of $351.20 million during the quarter, compared to the consensus estimate of $315.67 million. During the same period last year, the firm posted $0.32 earnings per share. The company's revenue for the quarter 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. Analysts predict that MDU Resources Group, Inc. will post 0.94 EPS for the current fiscal year.

MDU Resources Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Thursday, September 11th will be paid a $0.14 dividend. 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. The ex-dividend date of this dividend is Thursday, September 11th. MDU Resources Group's payout ratio is presently 49.06%.

Analyst Upgrades and Downgrades

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

View Our Latest Research Report on MDU Resources Group

Insiders Place Their Bets

In related news, CFO Jason L. Vollmer purchased 5,000 shares of the firm's stock in a transaction on Tuesday, August 19th. The stock was purchased at an average cost of $16.27 per share, with a total value of $81,350.00. Following the completion of the purchase, the chief financial officer owned 339,548 shares in the company, valued at approximately $5,524,445.96. This trade represents a 1.49% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.94% of the company's stock.

MDU Resources Group Profile

(Free Report)

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.

Read More

Want to see what other hedge funds are holding MDU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MDU Resources Group, Inc. (NYSE:MDU - Free Report).

Institutional Ownership by Quarter for MDU Resources Group (NYSE:MDU)

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