Gotham Asset Management LLC Trims Position in MDU Resources Group, Inc. (NYSE:MDU)

Gotham Asset Management LLC reduced its holdings in shares of MDU Resources Group, Inc. (NYSE:MDU - Free Report) by 57.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,924 shares of the utilities provider's stock after selling 45,003 shares during the period. Gotham Asset Management LLC's holdings in MDU Resources Group were worth $593,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Deutsche Bank AG boosted its position in shares of MDU Resources Group by 115.8% in the fourth quarter. Deutsche Bank AG now owns 69,603 shares of the utilities provider's stock worth $1,254,000 after purchasing an additional 37,355 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new position in shares of MDU Resources Group during the fourth quarter worth $2,286,000. Cubist Systematic Strategies LLC bought a new position in shares of MDU Resources Group during the fourth quarter worth $3,361,000. Cetera Investment Advisers boosted its position in shares of MDU Resources Group by 24.1% during the fourth quarter. Cetera Investment Advisers now owns 64,163 shares of the utilities provider's stock worth $1,156,000 after acquiring an additional 12,451 shares during the last quarter. Finally, Centiva Capital LP bought a new position in shares of MDU Resources Group during the fourth quarter worth $2,593,000. 71.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of MDU Resources Group from a "sell" rating to a "hold" rating in a research report on Monday, May 12th.

MDU Resources Group Price Performance

MDU Resources Group stock traded up $0.17 during mid-day trading on Friday, reaching $17.06. 890,615 shares of the company's stock traded hands, compared to its average volume of 2,448,785. The company has a market cap of $3.48 billion, a price-to-earnings ratio of 12.36, a PEG ratio of 2.76 and a beta of 0.72. The stock has a 50 day moving average of $16.87 and a two-hundred day moving average of $17.59. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.73. MDU Resources Group, Inc. has a 12-month low of $13.23 and a 12-month high of $20.39.

MDU Resources Group (NYSE:MDU - Get Free Report) last announced its earnings results on Thursday, May 8th. The utilities provider reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.04. MDU Resources Group had a net margin of 7.31% and a return on equity of 10.20%. The business had revenue of $674.80 million for the quarter, compared to the consensus estimate of $653.13 million. During the same quarter in the prior year, the firm posted $0.52 earnings per share. The business's revenue for the quarter was up 14.7% on a year-over-year basis. Equities analysts forecast that MDU Resources Group, Inc. will post 0.94 earnings per share for the current year.

MDU Resources Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Thursday, June 12th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 3.05%. MDU Resources Group's dividend payout ratio is currently 40.31%.

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.