Mdu Resources Group Inc (MDU) Director David M. Sparby Acquires 3,000 Shares

Mdu Resources Group Inc (NYSE:MDU) Director David M. Sparby bought 3,000 shares of Mdu Resources Group stock in a transaction dated Thursday, March 14th. The shares were purchased at an average cost of $25.75 per share, for a total transaction of $77,250.00. Following the completion of the transaction, the director now owns 4,726 shares of the company’s stock, valued at approximately $121,694.50. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.

Shares of NYSE:MDU traded up $0.06 during midday trading on Friday, reaching $25.75. The company had a trading volume of 2,290,529 shares, compared to its average volume of 1,056,875. The company has a current ratio of 1.20, a quick ratio of 0.91 and a debt-to-equity ratio of 0.72. The firm has a market cap of $5.20 billion, a PE ratio of 18.66, a price-to-earnings-growth ratio of 2.98 and a beta of 0.68. Mdu Resources Group Inc has a one year low of $22.73 and a one year high of $29.62.

Mdu Resources Group (NYSE:MDU) last issued its quarterly earnings results on Tuesday, February 5th. The utilities provider reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.03). Mdu Resources Group had a return on equity of 10.80% and a net margin of 6.01%. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter last year, the firm posted $0.59 EPS. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, equities research analysts forecast that Mdu Resources Group Inc will post 1.48 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Thursday, March 14th will be paid a dividend of $0.2025 per share. The ex-dividend date of this dividend is Wednesday, March 13th. This represents a $0.81 annualized dividend and a yield of 3.15%. Mdu Resources Group’s payout ratio is 58.70%.

Separately, Zacks Investment Research upgraded shares of Mdu Resources Group from a “sell” rating to a “buy” rating and set a $26.00 price target for the company in a research note on Thursday, January 3rd.

A number of hedge funds have recently added to or reduced their stakes in MDU. Norges Bank bought a new stake in Mdu Resources Group during the fourth quarter valued at $51,986,000. Oregon Public Employees Retirement Fund grew its position in shares of Mdu Resources Group by 2,284.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,839,065 shares of the utilities provider’s stock worth $77,000 after acquiring an additional 1,761,923 shares during the last quarter. Federated Investors Inc. PA grew its position in shares of Mdu Resources Group by 1,368.8% during the third quarter. Federated Investors Inc. PA now owns 1,634,653 shares of the utilities provider’s stock worth $41,994,000 after acquiring an additional 1,523,364 shares during the last quarter. BlackRock Inc. grew its position in shares of Mdu Resources Group by 4.1% during the fourth quarter. BlackRock Inc. now owns 18,376,417 shares of the utilities provider’s stock worth $438,095,000 after acquiring an additional 723,202 shares during the last quarter. Finally, Acadian Asset Management LLC grew its position in shares of Mdu Resources Group by 99.2% during the fourth quarter. Acadian Asset Management LLC now owns 1,160,879 shares of the utilities provider’s stock worth $27,675,000 after acquiring an additional 578,110 shares during the last quarter. Hedge funds and other institutional investors own 66.17% of the company’s stock.

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About Mdu Resources Group

MDU Resources Group, Inc engages in regulated energy delivery, and construction materials and services businesses in the United States. The company operates through five segments: Electric, Natural Gas Distribution, Pipeline and Midstream, Construction Materials and Contracting, and Construction Services.

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