MDU Resources Group, Inc. (NYSE:MDU) Shares Sold by Retirement Systems of Alabama

Posted by Defense World Staff on Jul 24th, 2023

Retirement Systems of Alabama cut its stake in MDU Resources Group, Inc. (NYSE:MDU – Free Report) by 0.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 265,702 shares of the utilities provider’s stock after selling 2,320 shares during the quarter. Retirement Systems of Alabama owned approximately 0.13% of MDU Resources Group worth $8,099,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in MDU. U.S. Capital Wealth Advisors LLC acquired a new position in shares of MDU Resources Group during the 4th quarter worth approximately $27,000. Parallel Advisors LLC raised its stake in shares of MDU Resources Group by 163.5% during the 1st quarter. Parallel Advisors LLC now owns 909 shares of the utilities provider’s stock worth $28,000 after buying an additional 564 shares during the period. Money Concepts Capital Corp purchased a new stake in shares of MDU Resources Group during the fourth quarter worth approximately $33,000. Signaturefd LLC increased its position in shares of MDU Resources Group by 67.5% during the first quarter. Signaturefd LLC now owns 1,134 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 457 shares in the last quarter. Finally, Ronald Blue Trust Inc. increased its position in shares of MDU Resources Group by 554.5% during the fourth quarter. Ronald Blue Trust Inc. now owns 1,368 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 1,159 shares in the last quarter. 69.63% of the stock is owned by institutional investors and hedge funds.

MDU Resources Group Stock Up 0.3 %

Shares of MDU opened at $22.03 on Monday. MDU Resources Group, Inc. has a 52-week low of $18.41 and a 52-week high of $22.43. The company has a market capitalization of $4.49 billion, a PE ratio of 11.97, a price-to-earnings-growth ratio of 2.94 and a beta of 0.75. The stock has a fifty day simple moving average of $23.05 and a two-hundred day simple moving average of $27.69. The company has a quick ratio of 1.03, a current ratio of 1.29 and a debt-to-equity ratio of 0.77.

MDU Resources Group (NYSE:MDU – Get Free Report) last issued its earnings results on Thursday, May 4th. The utilities provider reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. MDU Resources Group had a return on equity of 11.25% and a net margin of 5.13%. The business had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period last year, the company earned $0.16 EPS. The company’s revenue for the quarter was up 22.6% on a year-over-year basis. As a group, equities analysts forecast that MDU Resources Group, Inc. will post 1.3 EPS for the current year.

MDU Resources Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Saturday, July 1st. Investors of record on Tuesday, June 13th were given a dividend of $0.2225 per share. This represents a $0.89 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date was Monday, June 12th. MDU Resources Group’s payout ratio is 48.37%.

Wall Street Analysts Forecast Growth

MDU has been the subject of several research reports. StockNews.com initiated coverage on MDU Resources Group in a research report on Wednesday, July 19th. They set a “hold” rating for the company. Bank of America upgraded MDU Resources Group from an “underperform” rating to a “buy” rating in a research report on Thursday, June 1st.

MDU Resources Group Company Profile

(Free Report)

MDU Resources Group, Inc engages in the regulated energy delivery, and construction materials and services businesses in the United States. It operates through five segments: Electric, Natural Gas Distribution, Pipeline, Construction Materials and Contracting, 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 84 transmission and 294 distribution substations.