Y Intercept Hong Kong Ltd Sells 22,594 Shares of MDU Resources Group, Inc. (NYSE:MDU)

Key Points

• Y Intercept Hong Kong Ltd reduced its holdings in MDU Resources Group by 53.3%, owning 19,775 shares after selling 22,594 shares in the first quarter, valued at $334,000.
• Other investors, like Victory Capital Management Inc., significantly increased their stakes, with Victory's ownership rising by 217.5%, totaling 480,353 shares.
• MDU Resources Group reported a 14.7% year-over-year revenue increase for the latest quarter, achieving $674.80 million in revenue and an EPS of $0.40, outpacing analysts' expectations.

Y Intercept Hong Kong Ltd lowered its position in MDU Resources Group, Inc. (NYSE:MDU - Free Report) by 53.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,775 shares of the utilities provider's stock after selling 22,594 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in MDU Resources Group were worth $334,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of MDU. First Trust Advisors LP raised its position in MDU Resources Group by 132.0% in the 4th quarter. First Trust Advisors LP now owns 6,999,856 shares of the utilities provider's stock valued at $126,137,000 after purchasing an additional 3,982,783 shares during the last quarter. Vanguard Group Inc. raised its position in MDU Resources Group by 16.6% in the 4th quarter. Vanguard Group Inc. now owns 22,997,452 shares of the utilities provider's stock valued at $414,414,000 after purchasing an additional 3,276,114 shares during the last quarter. Norges Bank bought a new position in MDU Resources Group in the 4th quarter valued at $40,857,000. Brandywine Global Investment Management LLC increased its stake in shares of MDU Resources Group by 300.1% in the 4th quarter. Brandywine Global Investment Management LLC now owns 691,993 shares of the utilities provider's stock valued at $12,470,000 after buying an additional 519,029 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of MDU Resources Group by 6.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 8,186,994 shares of the utilities provider's stock valued at $147,530,000 after buying an additional 467,355 shares during the period. Institutional investors own 71.44% of the company's stock.

Analyst Upgrades and Downgrades

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 Trading Down 0.9%

NYSE:MDU traded down $0.15 on Friday, reaching $17.10. The company's stock had a trading volume of 1,366,471 shares, compared to its average volume of 1,678,234. MDU Resources Group, Inc. has a 1-year low of $14.91 and a 1-year high of $30.52. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.82 and a current ratio of 0.85. The firm has a market cap of $3.49 billion, a PE ratio of 13.26, a PEG ratio of 2.58 and a beta of 0.70. The business's 50-day moving average price is $16.75 and its two-hundred day moving average price is $16.95.

MDU Resources Group (NYSE:MDU - Get Free Report) last issued its quarterly earnings results 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 for the quarter, compared to analyst estimates of $653.13 million. MDU Resources Group had a return on equity of 9.86% and a net margin of 7.93%. The company's quarterly revenue was up 14.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.52 earnings per share. Equities research analysts anticipate that MDU Resources Group, Inc. will post 0.94 earnings per share for the current fiscal year.

MDU Resources Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Thursday, June 12th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 3.0%. MDU Resources Group's payout ratio is presently 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.