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 boosted its holdings in 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 (SEC). The fund owned 1,343,979 shares of the utilities provider's stock after buying an additional 682,098 shares during the quarter. Millennium Management LLC owned approximately 0.66% of MDU Resources Group worth $22,727,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Mackenzie Financial Corp raised its holdings in MDU Resources Group by 3.5% during the 4th quarter. Mackenzie Financial Corp now owns 18,974 shares of the utilities provider's stock worth $342,000 after purchasing an additional 650 shares during the last quarter. Independent Advisor Alliance raised its holdings in MDU Resources Group by 7.1% during the 1st quarter. Independent Advisor Alliance now owns 11,329 shares of the utilities provider's stock worth $192,000 after purchasing an additional 753 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in MDU Resources Group by 2.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 29,903 shares of the utilities provider's stock worth $506,000 after purchasing an additional 789 shares during the last quarter. Dakota Wealth Management grew its position in shares of MDU Resources Group by 1.3% during the 1st quarter. Dakota Wealth Management now owns 75,678 shares of the utilities provider's stock worth $1,289,000 after buying an additional 965 shares during the period. Finally, Bessemer Group Inc. grew its position in shares of MDU Resources Group by 179.0% during the 1st 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 period. Institutional investors own 71.44% of the company's stock.

MDU Resources Group Stock Up 0.9%

NYSE MDU traded up $0.15 during mid-day trading on Thursday, hitting $16.00. The company's stock had a trading volume of 250,730 shares, compared to its average volume of 1,668,818. The company's 50 day simple moving average is $16.62 and its 200 day simple moving average is $16.73. MDU Resources Group, Inc. has a twelve month low of $14.91 and a twelve month 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 firm has a market capitalization of $3.27 billion, a price-to-earnings ratio of 15.05, a PEG ratio of 2.51 and a beta of 0.70.

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 (EPS) 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 business had revenue of $351.20 million during the quarter, compared to analyst estimates of $315.67 million. During the same period in the previous year, the business posted $0.32 EPS. The business's revenue for the quarter was up 1.9% compared to the same quarter last year. MDU Resources Group has set its FY 2025 guidance at 0.880-0.950 EPS. Analysts anticipate that MDU Resources Group, Inc. will post 0.94 earnings per share for the current year.

MDU Resources Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Thursday, September 11th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Thursday, September 11th. This is an increase from MDU Resources Group's previous quarterly dividend of $0.13. MDU Resources Group's payout ratio is 52.83%.

Insiders Place Their Bets

In related news, CFO Jason L. Vollmer acquired 5,000 shares of the company's stock in a transaction on Monday, September 8th. The shares were acquired at an average cost of $16.07 per share, for a total transaction of $80,350.00. Following the purchase, the chief financial officer owned 344,548 shares in the company, valued at approximately $5,536,886.36. The trade was a 1.47% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.94% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded shares of MDU Resources Group from a "hold" rating to a "sell" rating in a research report 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 MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $18.00.

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.