New York State Teachers Retirement System Cuts Position in MDU Resources Group, Inc. $MDU

Key Points

• New York State Teachers Retirement System decreased its holdings in MDU Resources Group by 7.5%, owning approximately 241,146 shares valued at $4,020,000 after selling 19,645 shares in the second quarter.
• The company recently declared a quarterly dividend of $0.14 per share, an increase from the previous $0.13, which reflects an annualized yield of 2.9%.
• MDU Resources Group's stock trades around $19.39 and has seen a 1.9% year-over-year revenue increase, despite a decrease in earnings per share from $0.32 to $0.07 in its latest quarter.

New York State Teachers Retirement System lessened its holdings in MDU Resources Group, Inc. (NYSE:MDU - Free Report) by 7.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 241,146 shares of the utilities provider's stock after selling 19,645 shares during the quarter. New York State Teachers Retirement System owned about 0.12% of MDU Resources Group worth $4,020,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of MDU Resources Group by 1.8% during the first quarter. Vanguard Group Inc. now owns 23,405,598 shares of the utilities provider's stock valued at $395,789,000 after buying an additional 408,146 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of MDU Resources Group by 3.2% during the first quarter. Dimensional Fund Advisors LP now owns 8,450,566 shares of the utilities provider's stock valued at $142,894,000 after buying an additional 263,572 shares during the last quarter. Invesco Ltd. grew its holdings in shares of MDU Resources Group by 30.1% during the first quarter. Invesco Ltd. now owns 3,124,863 shares of the utilities provider's stock valued at $52,841,000 after buying an additional 723,560 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of MDU Resources Group by 6.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,329,538 shares of the utilities provider's stock valued at $39,392,000 after buying an additional 150,181 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of MDU Resources Group by 7.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,276,045 shares of the utilities provider's stock valued at $38,533,000 after buying an additional 162,026 shares during the last quarter. Hedge funds and other institutional investors own 71.44% of the company's stock.

Insider Transactions at MDU Resources Group

In related news, CFO Jason L. Vollmer purchased 5,000 shares of MDU Resources Group stock in a transaction on Monday, September 8th. The shares were bought at an average cost of $16.07 per share, for a total transaction of $80,350.00. Following the acquisition, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.94% of the company's stock.

MDU Resources Group Trading Up 1.1%

Shares of MDU Resources Group stock opened at $19.39 on Tuesday. The company's fifty day simple moving average is $17.09 and its 200-day simple moving average is $16.92. The stock has a market capitalization of $3.96 billion, a PE ratio of 18.29, a P/E/G ratio of 3.07 and a beta of 0.70. MDU Resources Group, Inc. has a 1-year low of $14.91 and a 1-year high of $30.07. 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 issued its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.06). MDU Resources Group had a return on equity of 8.29% and a net margin of 8.25%.The business had revenue of $351.20 million for the quarter, compared to analysts' expectations of $315.67 million. During the same quarter in the prior year, the business earned $0.32 EPS. The company's revenue 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. As a group, equities analysts anticipate that MDU Resources Group, Inc. will post 0.94 earnings per share for the current year.

MDU Resources Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Thursday, September 11th were issued a $0.14 dividend. The ex-dividend date was Thursday, September 11th. This represents a $0.56 dividend on an annualized basis and a yield of 2.9%. This is an increase from MDU Resources Group's previous quarterly dividend of $0.13. MDU Resources Group's payout ratio is presently 52.83%.

Analyst Ratings Changes

A number of research firms have recently commented on MDU. Cowen began coverage on shares of MDU Resources Group in a report on Wednesday, October 15th. They set a "hold" rating on the stock. Weiss Ratings upgraded shares of MDU Resources Group from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, October 8th. Zacks Research cut shares of MDU Resources Group from a "hold" rating to a "strong sell" rating in a report on Tuesday, October 14th. Jefferies Financial Group upgraded shares of MDU Resources Group from a "hold" rating to a "buy" rating and set a $20.00 target price on the stock in a report on Friday, September 19th. Finally, Wall Street Zen cut shares of MDU Resources Group from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $19.00.

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.

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