Jupiter Asset Management Ltd. Cuts Stock Position in MDU Resources Group, Inc. (NYSE:MDU)

Key Points

• Jupiter Asset Management Ltd. decreased its stake in MDU Resources Group by 27.5%, selling 367,142 shares and leaving it with 967,678 shares valued at approximately $16.4 million.
• Institutional investors continue to actively trade shares of MDU Resources Group, with firms like Cambridge Investment Research Advisors and GAMMA Investing LLC increasing their positions significantly in the first quarter.
• MDU Resources Group announced a quarterly dividend of $0.13 per share, resulting in an annualized dividend yield of 3.0% and a payout ratio of 40.31%.

Jupiter Asset Management Ltd. reduced its holdings in MDU Resources Group, Inc. (NYSE:MDU - Free Report) by 27.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 967,678 shares of the utilities provider's stock after selling 367,142 shares during the period. Jupiter Asset Management Ltd. owned about 0.47% of MDU Resources Group worth $16,363,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in MDU. First Trust Advisors LP boosted its stake in shares of MDU Resources Group by 132.0% in the fourth quarter. First Trust Advisors LP now owns 6,999,856 shares of the utilities provider's stock worth $126,137,000 after acquiring an additional 3,982,783 shares during the last quarter. Norges Bank acquired a new stake in shares of MDU Resources Group in the fourth quarter worth approximately $40,857,000. Dimensional Fund Advisors LP boosted its stake in MDU Resources Group by 6.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 8,186,994 shares of the utilities provider's stock worth $147,530,000 after buying an additional 467,355 shares during the last quarter. Millennium Management LLC boosted its stake in MDU Resources Group by 102.3% during the fourth quarter. Millennium Management LLC now owns 661,881 shares of the utilities provider's stock worth $11,927,000 after buying an additional 334,713 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in MDU Resources Group by 217.5% during the first quarter. Victory Capital Management Inc. now owns 480,353 shares of the utilities provider's stock worth $8,123,000 after buying an additional 329,064 shares during the last quarter. 71.44% of the stock is owned by institutional investors and hedge funds.

MDU Resources Group Trading Down 2.7%

NYSE MDU traded down $0.47 on Thursday, reaching $17.02. 259,858 shares of the company were exchanged, compared to its average volume of 1,664,726. The business's fifty day moving average price is $16.77 and its 200 day moving average price is $16.92. The stock has a market capitalization of $3.48 billion, a P/E ratio of 13.19, a price-to-earnings-growth ratio of 2.68 and a beta of 0.73. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.74. 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 earnings results on Thursday, August 7th. The utilities provider reported $0.07 EPS for the quarter, missing analysts' consensus estimates of $0.13 by ($0.06). MDU Resources Group had a net margin of 7.93% and a return on equity of 9.86%. During the same period in the previous year, the company posted $0.32 earnings per share. The firm's revenue was up 1.9% compared to the same quarter last year. Analysts forecast that MDU Resources Group, Inc. will post 0.94 earnings per share for the current year.

MDU Resources Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Thursday, June 12th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 3.1%. MDU Resources Group's dividend payout ratio is currently 40.31%.

Analyst Ratings Changes

Separately, Wall Street Zen raised MDU Resources Group from a "sell" rating to a "hold" rating in a research note on Monday, May 12th.

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.