Millennium Management LLC Buys 682,098 Shares of MDU Resources Group, Inc. $MDU

Key Points

• Millennium Management LLC increased its stake in MDU Resources Group by 103.1%, acquiring an additional 682,098 shares, bringing its holdings to 1,343,979 shares worth $22.7 million.
• MDU Resources Group's CFO, Jason L. Vollmer, purchased 5,000 shares at an average price of $16.07, increasing his total holdings to 344,548 shares valued at approximately $5.5 million.
• The company reported quarterly earnings of $0.07 per share, missing estimates, but also announced a quarterly dividend increase from $0.13 to $0.14, reflecting a yield of 3.4%.

Millennium Management LLC grew its holdings in shares of MDU Resources Group, Inc. (NYSE:MDU - Free Report) by 103.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,343,979 shares of the utilities provider's stock after acquiring an additional 682,098 shares during the quarter. Millennium Management LLC owned about 0.66% of MDU Resources Group worth $22,727,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of MDU. Cambridge Investment Research Advisors Inc. raised its holdings in shares of MDU Resources Group by 28.6% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 66,160 shares of the utilities provider's stock valued at $1,119,000 after buying an additional 14,701 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of MDU Resources Group by 241.9% during the first quarter. GAMMA Investing LLC now owns 1,843 shares of the utilities provider's stock valued at $31,000 after buying an additional 1,304 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of MDU Resources Group by 8.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 21,663 shares of the utilities provider's stock valued at $366,000 after purchasing an additional 1,742 shares in the last quarter. Tidal Investments LLC bought a new stake in shares of MDU Resources Group during the fourth quarter valued at approximately $185,000. Finally, Robeco Institutional Asset Management B.V. boosted its position in shares of MDU Resources Group by 16.5% during the first quarter. Robeco Institutional Asset Management B.V. now owns 69,446 shares of the utilities provider's stock valued at $1,174,000 after purchasing an additional 9,846 shares in the last quarter. Institutional investors own 71.44% of the company's stock.

Analyst Upgrades and Downgrades

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 given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $18.00.

Insider Buying and Selling

In other news, CFO Jason L. Vollmer purchased 5,000 shares of the company's stock in a transaction that occurred on Monday, September 8th. The stock was bought at an average cost of $16.07 per share, with a total value of $80,350.00. Following the completion of the purchase, the chief financial officer owned 344,548 shares in the company, valued at approximately $5,536,886.36. This represents a 1.47% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.94% of the company's stock.

MDU Resources Group Stock Performance

MDU Resources Group stock traded up $0.24 during mid-day trading on Thursday, reaching $16.09. 1,443,582 shares of the stock traded hands, compared to its average volume of 1,455,622. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.74 and a quick ratio of 0.71. The business's 50-day moving average is $16.61 and its 200-day moving average is $16.72. The stock has a market capitalization of $3.29 billion, a PE ratio of 15.18, a price-to-earnings-growth ratio of 2.51 and a beta of 0.70. MDU Resources Group, Inc. has a 12-month low of $14.91 and a 12-month high of $30.52.

MDU Resources Group (NYSE:MDU - Get Free Report) last issued its quarterly 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). The company had revenue of $351.20 million during the quarter, compared to analysts' expectations of $315.67 million. MDU Resources Group had a return on equity of 8.29% and a net margin of 8.25%.The business's quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.32 EPS. MDU Resources Group has set its FY 2025 guidance at 0.880-0.950 EPS. As a group, sell-side analysts predict that MDU Resources Group, Inc. will post 0.94 EPS for the current fiscal year.

MDU Resources Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Thursday, September 11th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.5%. This is a positive change 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 dividend payout ratio is currently 52.83%.

About MDU Resources Group

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.