Retirement Systems of Alabama Sells 3,972 Shares of MDU Resources Group, Inc. (NYSE:MDU)

Retirement Systems of Alabama trimmed its stake in shares of MDU Resources Group, Inc. (NYSE:MDU) by 1.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 247,676 shares of the utilities provider’s stock after selling 3,972 shares during the quarter. Retirement Systems of Alabama owned approximately 0.12% of MDU Resources Group worth $6,789,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of MDU. Wealth Enhancement Advisory Services LLC increased its stake in shares of MDU Resources Group by 19.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 17,955 shares of the utilities provider’s stock worth $451,000 after buying an additional 2,974 shares during the period. Nisa Investment Advisors LLC boosted its holdings in MDU Resources Group by 17.3% in the second quarter. Nisa Investment Advisors LLC now owns 60,388 shares of the utilities provider’s stock valued at $1,523,000 after acquiring an additional 8,900 shares in the last quarter. Hennessy Advisors Inc. increased its position in MDU Resources Group by 5.2% during the 2nd quarter. Hennessy Advisors Inc. now owns 186,807 shares of the utilities provider’s stock valued at $4,689,000 after purchasing an additional 9,200 shares during the period. SummerHaven Investment Management LLC raised its holdings in MDU Resources Group by 1.8% in the 2nd quarter. SummerHaven Investment Management LLC now owns 34,869 shares of the utilities provider’s stock worth $875,000 after purchasing an additional 606 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of MDU Resources Group by 15.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 49,808 shares of the utilities provider’s stock worth $1,250,000 after purchasing an additional 6,587 shares during the period. 71.44% of the stock is owned by hedge funds and other institutional investors.

MDU Resources Group Stock Performance

MDU stock opened at $18.55 on Wednesday. The stock’s 50 day simple moving average is $22.18 and its 200 day simple moving average is $24.41. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.73. MDU Resources Group, Inc. has a 12-month low of $14.91 and a 12-month high of $30.52. The stock has a market capitalization of $3.78 billion, a PE ratio of 9.51, a price-to-earnings-growth ratio of 2.46 and a beta of 0.79.

MDU Resources Group (NYSE:MDU) last released its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.01. MDU Resources Group had a net margin of 8.92% and a return on equity of 11.24%. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $969.17 million. During the same period in the previous year, the company earned $0.29 earnings per share. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. As a group, research analysts forecast that MDU Resources Group, Inc. will post 1.13 earnings per share for the current fiscal year.

MDU Resources Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Thursday, December 12th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 2.80%. The ex-dividend date of this dividend is Thursday, December 12th. MDU Resources Group’s payout ratio is currently 26.67%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on MDU shares. StockNews.com initiated coverage on shares of MDU Resources Group in a research note on Wednesday. They issued a “hold” rating for the company. Siebert Williams Shank raised MDU Resources Group from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research report on Monday, November 4th. Finally, Bank of America raised shares of MDU Resources Group from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $31.00 to $17.00 in a research report on Tuesday, November 5th.

MDU Resources Group 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.