Maryland State Retirement & Pension System Increases Position in MDU Resources Group, Inc. (NYSE:MDU)

Maryland State Retirement & Pension System boosted its holdings in shares of MDU Resources Group, Inc. (NYSE:MDU) by 589.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,930 shares of the utilities provider’s stock after acquiring 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.

Other large investors also recently bought and sold shares of the company. Friedenthal Financial purchased a new stake in MDU Resources Group during the 4th quarter valued at about $778,000. Assenagon Asset Management S.A. grew its stake in MDU Resources Group by 42.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 115,907 shares of the utilities provider’s stock valued at $2,089,000 after acquiring an additional 34,409 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in MDU Resources Group by 5.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,082,468 shares of the utilities provider’s stock valued at $57,080,000 after purchasing an additional 101,955 shares during the last quarter. Cascade Investment Advisors Inc. boosted its holdings in MDU Resources Group by 21.3% in the 4th quarter. Cascade Investment Advisors Inc. now owns 81,626 shares of the utilities provider’s stock valued at $1,471,000 after purchasing an additional 14,360 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in MDU Resources Group by 32.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 855,493 shares of the utilities provider’s stock valued at $23,449,000 after purchasing an additional 209,042 shares during the last quarter. Hedge funds and other institutional investors own 71.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on MDU shares. StockNews.com lowered shares of MDU Resources Group from a “hold” rating to a “sell” rating in a report on Thursday, February 20th. Jefferies Financial Group started coverage on shares of MDU Resources Group in a report on Wednesday, January 8th. They issued a “hold” rating and a $18.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, MDU Resources Group currently has an average rating of “Hold” and an average target price of $21.00.

Insider Transactions at MDU Resources Group

In related news, Director Dennis W. Johnson acquired 30,000 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were purchased at an average cost of $16.64 per share, for a total transaction of $499,200.00. Following the acquisition, the director now owns 180,166 shares in the company, valued at $2,997,962.24. The trade was a 19.98 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.59% of the company’s stock.

MDU Resources Group Stock Performance

Shares of MDU stock opened at $16.79 on Friday. The firm’s 50 day moving average price is $17.24 and its 200-day moving average price 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 one year low of $12.74 and a one year high of $20.39. The firm has a market cap of $3.43 billion, a P/E ratio of 12.16, a P/E/G ratio of 2.76 and a beta of 0.81.

MDU Resources Group (NYSE:MDU) last issued its quarterly earnings data on Thursday, February 6th. The utilities provider reported $0.34 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, equities research analysts predict that MDU Resources Group, Inc. will post 0.94 EPS for the current year.

MDU Resources Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Thursday, March 13th will be issued a $0.13 dividend. The ex-dividend date of this dividend 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 currently 37.68%.

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.