MDU Resources Group, Inc. (NYSE:MDU) Shares Purchased by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System raised its holdings in shares of MDU Resources Group, Inc. (NYSE:MDU) by 589.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 79,930 shares of the utilities provider’s stock after purchasing an additional 68,329 shares during the period. Maryland State Retirement & Pension System’s holdings in MDU Resources Group were worth $1,440,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Blue Trust Inc. increased its holdings in MDU Resources Group by 19.4% during the 4th quarter. Blue Trust Inc. now owns 3,505 shares of the utilities provider’s stock valued at $63,000 after acquiring an additional 570 shares in the last quarter. HighTower Advisors LLC grew its holdings in shares of MDU Resources Group by 2.0% during the third quarter. HighTower Advisors LLC now owns 32,739 shares of the utilities provider’s stock worth $896,000 after buying an additional 641 shares in the last quarter. Ingalls & Snyder LLC grew its holdings in shares of MDU Resources Group by 2.2% during the third quarter. Ingalls & Snyder LLC now owns 39,335 shares of the utilities provider’s stock worth $1,078,000 after buying an additional 850 shares in the last quarter. Principal Securities Inc. grew its holdings in shares of MDU Resources Group by 164.4% during the fourth quarter. Principal Securities Inc. now owns 1,470 shares of the utilities provider’s stock worth $26,000 after buying an additional 914 shares in the last quarter. Finally, V Square Quantitative Management LLC grew its holdings in shares of MDU Resources Group by 99.6% during the fourth quarter. V Square Quantitative Management LLC now owns 1,834 shares of the utilities provider’s stock worth $33,000 after buying an additional 915 shares in the last quarter. 71.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. StockNews.com downgraded shares of MDU Resources Group from a “hold” rating to a “sell” rating in a report on Thursday, February 20th. Jefferies Financial Group assumed coverage on shares of MDU Resources Group in a report on Wednesday, January 8th. They set a “hold” rating and a $18.00 price target for the company. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $21.00.

MDU Resources Group Price Performance

MDU opened at $16.79 on Friday. The company’s 50 day simple moving average is $17.24 and its 200 day simple moving average is $20.71. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.07 and a current ratio of 1.15. MDU Resources Group, Inc. has a 1 year low of $12.74 and a 1 year high of $20.39. The stock has a market capitalization of $3.43 billion, a PE ratio of 12.16, a P/E/G ratio of 2.76 and a beta of 0.81.

MDU Resources Group (NYSE:MDU) last released its earnings results on Thursday, February 6th. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.03. MDU Resources Group had a net margin of 7.31% and a return on equity of 10.20%. As a group, sell-side analysts expect that MDU Resources Group, Inc. will post 0.94 EPS for the current year.

MDU Resources Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Thursday, March 13th will be given a $0.13 dividend. The ex-dividend date is Thursday, March 13th. This represents a $0.52 annualized dividend and a dividend yield of 3.10%. MDU Resources Group’s dividend payout ratio is presently 37.68%.

Insider Buying and Selling

In related news, Director Dennis W. Johnson bought 30,000 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were acquired at an average cost of $16.64 per share, with a total value of $499,200.00. Following the completion of the transaction, the director now owns 180,166 shares of the company’s stock, valued at approximately $2,997,962.24. The trade was a 19.98 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.59% of the company’s stock.

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.