ARP Americas LP Buys New Position in Mdu Resources Group Inc (NYSE:MDU)

ARP Americas LP bought a new stake in Mdu Resources Group Inc (NYSE:MDU) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 12,200 shares of the utilities provider’s stock, valued at approximately $271,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Convergence Investment Partners LLC grew its position in Mdu Resources Group by 14.3% in the 2nd quarter. Convergence Investment Partners LLC now owns 39,947 shares of the utilities provider’s stock valued at $886,000 after buying an additional 4,996 shares in the last quarter. State of Michigan Retirement System boosted its position in shares of Mdu Resources Group by 31.4% during the 2nd quarter. State of Michigan Retirement System now owns 73,008 shares of the utilities provider’s stock valued at $1,619,000 after purchasing an additional 17,446 shares in the last quarter. Tompkins Financial Corp boosted its position in shares of Mdu Resources Group by 1,100.0% during the 2nd quarter. Tompkins Financial Corp now owns 1,200 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 1,100 shares in the last quarter. John G Ullman & Associates Inc. boosted its position in shares of Mdu Resources Group by 38.1% during the 2nd quarter. John G Ullman & Associates Inc. now owns 520,174 shares of the utilities provider’s stock valued at $11,537,000 after purchasing an additional 143,510 shares in the last quarter. Finally, Miller Howard Investments Inc. NY boosted its position in shares of Mdu Resources Group by 16.7% during the 2nd quarter. Miller Howard Investments Inc. NY now owns 323,820 shares of the utilities provider’s stock valued at $7,182,000 after purchasing an additional 46,240 shares in the last quarter. Hedge funds and other institutional investors own 68.49% of the company’s stock.

MDU stock traded down $0.35 during mid-day trading on Friday, reaching $20.98. 3,817,770 shares of the stock traded hands, compared to its average volume of 855,413. The company has a current ratio of 1.67, a quick ratio of 1.29 and a debt-to-equity ratio of 0.89. Mdu Resources Group Inc has a 52-week low of $15.00 and a 52-week high of $32.22. The company has a market cap of $4.21 billion, a P/E ratio of 13.11, a P/E/G ratio of 2.62 and a beta of 0.78. The stock’s fifty day moving average is $21.53 and its 200-day moving average is $24.20.

Mdu Resources Group (NYSE:MDU) last posted its quarterly earnings data on Thursday, May 7th. The utilities provider reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.09). Mdu Resources Group had a net margin of 5.87% and a return on equity of 11.47%. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1,000.00 million. During the same period in the prior year, the company posted $0.21 earnings per share. Mdu Resources Group’s quarterly revenue was up 9.7% compared to the same quarter last year. Equities research analysts expect that Mdu Resources Group Inc will post 1.6 earnings per share for the current year.

Several equities analysts have recently weighed in on the stock. Citigroup reduced their price objective on shares of Mdu Resources Group from $26.00 to $23.00 and set a “neutral” rating for the company in a research report on Tuesday, June 16th. Wells Fargo & Co reduced their price objective on shares of Mdu Resources Group from $33.00 to $25.00 and set an “equal weight” rating for the company in a research report on Monday, May 11th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Mdu Resources Group has an average rating of “Hold” and a consensus target price of $27.75.

In related news, Director David M. Sparby purchased 4,000 shares of Mdu Resources Group stock in a transaction dated Wednesday, May 13th. The stock was acquired at an average cost of $20.06 per share, with a total value of $80,240.00. Following the completion of the transaction, the director now directly owns 18,807 shares of the company’s stock, valued at $377,268.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David L. Goodin purchased 5,000 shares of Mdu Resources Group stock in a transaction dated Tuesday, May 12th. The stock was bought at an average cost of $19.25 per share, with a total value of $96,250.00. Following the completion of the transaction, the chief executive officer now directly owns 271,760 shares of the company’s stock, valued at $5,231,380. The disclosure for this purchase can be found here. Insiders have acquired 16,500 shares of company stock valued at $332,985 over the last ninety days. Insiders own 0.94% of the company’s stock.

Mdu Resources Group Company Profile

MDU Resources Group, Inc engages in regulated energy delivery, and construction materials and services businesses in the United States. It operates through five segments: Electric, Natural Gas Distribution, Pipeline and Midstream, Construction Materials and Contracting, and Construction Services. The Electric segment generates, transmits, and distributes electricity in Montana, North Dakota, South Dakota, and Wyoming.

Further Reading: Green Investing

Want to see what other hedge funds are holding MDU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mdu Resources Group Inc (NYSE:MDU).

Institutional Ownership by Quarter for Mdu Resources Group (NYSE:MDU)

Receive News & Ratings for Mdu Resources Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mdu Resources Group and related companies with MarketBeat.com's FREE daily email newsletter.