MDU Resources Group, Inc. (NYSE:MDU) Shares Bought by Victory Capital Management Inc.

Key Points

• Victory Capital Management Inc. increased its stake in MDU Resources Group by 217.5%, owning approximately 480,353 shares worth $8.1 million at the end of the first quarter.
• MDU Resources Group reported Q1 earnings of $0.40 EPS, exceeding analysts' expectations, with revenue of $674.8 million, up 14.7% from the previous year.
• The company declared a $0.13 quarterly dividend for the second quarter, resulting in an annualized yield of 3.05% and a payout ratio of 40.31%.

Victory Capital Management Inc. raised its holdings in MDU Resources Group, Inc. (NYSE:MDU - Free Report) by 217.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 480,353 shares of the utilities provider's stock after purchasing an additional 329,064 shares during the quarter. Victory Capital Management Inc. owned 0.24% of MDU Resources Group worth $8,123,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Bessemer Group Inc. raised its position in shares of MDU Resources Group by 179.0% in the first quarter. Bessemer Group Inc. now owns 1,518 shares of the utilities provider's stock worth $25,000 after acquiring an additional 974 shares during the period. GAMMA Investing LLC raised its position in shares of MDU Resources Group by 241.9% in the first quarter. GAMMA Investing LLC now owns 1,843 shares of the utilities provider's stock worth $31,000 after acquiring an additional 1,304 shares during the period. Atlas Capital Advisors Inc. raised its position in shares of MDU Resources Group by 84.4% during the 4th quarter. Atlas Capital Advisors Inc. now owns 2,487 shares of the utilities provider's stock worth $45,000 after purchasing an additional 1,138 shares during the last quarter. Johnson Financial Group Inc. acquired a new position in shares of MDU Resources Group during the 4th quarter worth about $54,000. Finally, Physician Wealth Advisors Inc. acquired a new position in shares of MDU Resources Group during the 4th quarter worth about $81,000. 71.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of MDU Resources Group from a "sell" rating to a "hold" rating in a research report on Monday, May 12th.

MDU Resources Group Price Performance

Shares of MDU traded down $0.14 during mid-day trading on Monday, hitting $16.89. 302,797 shares of the company were exchanged, compared to its average volume of 1,685,936. The stock has a market cap of $3.45 billion, a price-to-earnings ratio of 13.09, a price-to-earnings-growth ratio of 2.58 and a beta of 0.70. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.82 and a current ratio of 0.85. MDU Resources Group, Inc. has a 1-year low of $14.91 and a 1-year high of $30.52. The company has a 50 day moving average of $16.77 and a 200-day moving average of $16.96.

MDU Resources Group (NYSE:MDU - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The utilities provider reported $0.40 EPS for the quarter, beating analysts' consensus estimates of $0.36 by $0.04. The company had revenue of $674.80 million during the quarter, compared to the consensus estimate of $653.13 million. MDU Resources Group had a net margin of 7.93% and a return on equity of 9.86%. MDU Resources Group's quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.52 EPS. Analysts expect that MDU Resources Group, Inc. will post 0.94 EPS for the current fiscal year.

MDU Resources Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Thursday, June 12th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 3.08%. MDU Resources Group's payout ratio is 40.31%.

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.