Standard Family Office LLC trimmed its holdings in shares of MDU Resources Group, Inc. (NYSE:MDU) by 68.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,079 shares of the utilities provider’s stock after selling 2,382 shares during the period. Standard Family Office LLC’s holdings in MDU Resources Group were worth $34,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Annapolis Financial Services LLC bought a new stake in shares of MDU Resources Group during the 4th quarter worth $26,000. Capital Asset Advisory Services LLC bought a new stake in shares of MDU Resources Group during the 4th quarter worth $27,000. Total Clarity Wealth Management Inc. bought a new stake in shares of MDU Resources Group during the 1st quarter worth $32,000. Curi Capital bought a new stake in shares of MDU Resources Group during the 4th quarter worth $38,000. Finally, Sittner & Nelson LLC raised its stake in shares of MDU Resources Group by 188.0% during the 1st quarter. Sittner & Nelson LLC now owns 1,532 shares of the utilities provider’s stock worth $48,000 after purchasing an additional 1,000 shares during the period. Institutional investors own 67.90% of the company’s stock.
In other news, Director Thomas S. Everist sold 70,678 shares of the business’s stock in a transaction dated Friday, June 4th. The stock was sold at an average price of $33.97, for a total transaction of $2,400,931.66. Following the completion of the transaction, the director now owns 100,899 shares of the company’s stock, valued at $3,427,539.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.13% of the stock is currently owned by insiders.
MDU Resources Group (NYSE:MDU) last posted its earnings results on Wednesday, May 5th. The utilities provider reported $0.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.11. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $588.41 million. MDU Resources Group had a return on equity of 13.80% and a net margin of 7.50%. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.13 EPS. As a group, sell-side analysts expect that MDU Resources Group, Inc. will post 2.08 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 1st. Stockholders of record on Thursday, June 10th will be issued a dividend of $0.2125 per share. This represents a $0.85 annualized dividend and a dividend yield of 2.57%. The ex-dividend date is Wednesday, June 9th. MDU Resources Group’s payout ratio is 43.59%.
A number of equities research analysts recently issued reports on MDU shares. Bank of America started coverage on MDU Resources Group in a research note on Tuesday, March 23rd. They issued a “buy” rating and a $36.00 price objective on the stock. Williams Capital restated a “buy” rating on shares of MDU Resources Group in a research note on Friday, April 23rd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. MDU Resources Group currently has an average rating of “Buy” and a consensus target price of $28.25.
MDU Resources Group Profile
MDU Resources Group, Inc engages in the regulated energy delivery, and construction materials and services businesses in the United States. The company's Electric segment generates, transmits, and distributes electricity for residential, commercial, industrial, and municipal customers in Montana, North Dakota, South Dakota, and Wyoming.
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