MDU Resources Group (NYSE:MDU) CFO Jason Vollmer Buys 5,000 Shares

Key Points

• MDU Resources Group CFO Jason Vollmer purchased 5,000 shares at an average price of $16.07 each, totaling $80,350, increasing his ownership stake by 1.47%.
• The company recently announced a quarterly dividend increase to $0.14 per share, with an annualized yield of 3.5%, set to be paid on October 1st, 2023.
• MDU Resources Group's latest earnings report showed an EPS of $0.07, missing projections, while quarterly revenue increased by 1.9% year-over-year.

MDU Resources Group, Inc. (NYSE:MDU - Get Free Report) CFO Jason Vollmer bought 5,000 shares of the firm's stock in a transaction dated Monday, September 8th. The shares were acquired at an average price of $16.07 per share, for a total transaction of $80,350.00. Following the completion of the transaction, the chief financial officer owned 344,548 shares in the company, valued at $5,536,886.36. This represents a 1.47% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

MDU Resources Group Price Performance

Shares of MDU Resources Group stock traded down $0.06 during trading on Tuesday, hitting $16.05. 1,441,809 shares of the company's stock traded hands, compared to its average volume of 1,465,298. The company has a market cap of $3.28 billion, a PE ratio of 15.14, a PEG ratio of 2.55 and a beta of 0.70. MDU Resources Group, Inc. has a twelve month low of $14.91 and a twelve month high of $30.52. 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 firm's fifty day moving average price is $16.67 and its 200 day moving average price is $16.76.

MDU Resources Group (NYSE:MDU - Get Free Report) last released 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 firm had revenue of $351.20 million during the quarter, compared to analyst estimates of $315.67 million. MDU Resources Group had a net margin of 8.25% and a return on equity of 8.29%. MDU Resources Group's quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.32 earnings per share. MDU Resources Group has set its FY 2025 guidance at 0.880-0.950 EPS. Analysts forecast 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 announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Thursday, September 11th will be paid a $0.14 dividend. This is a boost from MDU Resources Group's previous quarterly dividend of $0.13. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Thursday, September 11th. MDU Resources Group's payout ratio is presently 52.83%.

Institutional Investors Weigh In On MDU Resources Group

A number of institutional investors and hedge funds have recently modified their holdings of MDU. Ameriprise Financial Inc. raised its stake in shares of MDU Resources Group by 134.0% during the fourth quarter. Ameriprise Financial Inc. now owns 507,793 shares of the utilities provider's stock worth $9,152,000 after buying an additional 290,756 shares during the last quarter. BNP Paribas Financial Markets raised its stake in shares of MDU Resources Group by 38.9% during the fourth quarter. BNP Paribas Financial Markets now owns 34,459 shares of the utilities provider's stock worth $621,000 after buying an additional 9,652 shares during the last quarter. Bank of America Corp DE raised its stake in shares of MDU Resources Group by 0.8% during the fourth quarter. Bank of America Corp DE now owns 535,928 shares of the utilities provider's stock worth $9,657,000 after buying an additional 4,461 shares during the last quarter. Brevan Howard Capital Management LP bought a new stake in shares of MDU Resources Group during the fourth quarter worth approximately $282,000. Finally, Cetera Investment Advisers raised its stake in shares of MDU Resources Group by 24.1% during the fourth quarter. Cetera Investment Advisers now owns 64,163 shares of the utilities provider's stock worth $1,156,000 after buying an additional 12,451 shares during the last quarter. 71.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

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.

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