Hsbc Holdings PLC Has $175,000 Position in MDU Resources Group, Inc. $MDU

Key Points

• Hsbc Holdings PLC has reduced its stake in MDU Resources Group by 90%, now holding only 10,376 shares valued at $175,000 after selling 93,155 shares.
• Comerica Bank and Ameriprise Financial Inc. both increased their stakes in MDU Resources Group, with Ameriprise boosting its position by 134% to own 507,793 shares worth $9,152,000.
• MDU Resources Group recently declared a quarterly dividend of $0.14, an increase from the previous $0.13, representing an annualized yield of 3.5%.

Hsbc Holdings PLC lowered its position in shares of MDU Resources Group, Inc. (NYSE:MDU - Free Report) by 90.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,376 shares of the utilities provider's stock after selling 93,155 shares during the quarter. Hsbc Holdings PLC's holdings in MDU Resources Group were worth $175,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bessemer Group Inc. increased its holdings in MDU Resources Group by 179.0% in the first quarter. Bessemer Group Inc. now owns 1,518 shares of the utilities provider's stock valued at $25,000 after purchasing an additional 974 shares during the last quarter. GAMMA Investing LLC increased its holdings in MDU Resources Group by 241.9% in the first quarter. GAMMA Investing LLC now owns 1,843 shares of the utilities provider's stock valued at $31,000 after purchasing an additional 1,304 shares during the last quarter. Headlands Technologies LLC bought a new stake in MDU Resources Group in the first quarter valued at about $48,000. Wood Tarver Financial Group LLC bought a new stake in MDU Resources Group in the fourth quarter valued at about $82,000. Finally, Garde Capital Inc. bought a new stake in MDU Resources Group in the first quarter valued at about $82,000. Institutional investors own 71.44% of the company's stock.

MDU Resources Group Trading Down 0.6%

Shares of MDU Resources Group stock traded down $0.11 during trading hours on Monday, hitting $16.08. The company's stock had a trading volume of 1,493,516 shares, compared to its average volume of 1,505,324. MDU Resources Group, Inc. has a 12 month low of $14.91 and a 12 month high of $30.52. The stock has a 50 day moving average of $16.69 and a 200 day moving average of $16.76. The company has a market capitalization of $3.28 billion, a PE ratio of 15.17, a price-to-earnings-growth ratio of 2.56 and a beta of 0.70. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.74 and a quick ratio of 0.71.

MDU Resources Group (NYSE:MDU - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.06). The business had revenue of $351.20 million during the quarter, compared to the consensus estimate of $315.67 million. MDU Resources Group had a return on equity of 8.29% and a net margin of 8.25%.The firm's revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.32 earnings per share. 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 earnings per share 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. Stockholders of record on Thursday, September 11th will be given a dividend of $0.14 per share. This is an increase from MDU Resources Group's previous quarterly dividend of $0.13. This represents a $0.56 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Thursday, September 11th. MDU Resources Group's payout ratio is currently 49.06%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at MDU Resources Group

In other news, CFO Jason L. Vollmer acquired 5,000 shares of MDU Resources Group stock in a transaction dated Tuesday, August 19th. The stock was bought at an average cost of $16.27 per share, with a total value of $81,350.00. Following the completion of the transaction, the chief financial officer directly owned 339,548 shares of the company's stock, valued at approximately $5,524,445.96. This represents a 1.49% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.94% of the stock is owned by corporate insiders.

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.