ICA Group Wealth Management LLC Decreases Position in MDU Resources Group, Inc. (NYSE:MDU)

ICA Group Wealth Management LLC decreased its holdings in shares of MDU Resources Group, Inc. (NYSE:MDU) by 66.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,492 shares of the utilities provider’s stock after selling 10,769 shares during the quarter. ICA Group Wealth Management LLC’s holdings in MDU Resources Group were worth $138,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. State Board of Administration of Florida Retirement System boosted its holdings in shares of MDU Resources Group by 29.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 280,244 shares of the utilities provider’s stock valued at $7,062,000 after buying an additional 63,403 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of MDU Resources Group by 17.0% during the first quarter. Russell Investments Group Ltd. now owns 401,619 shares of the utilities provider’s stock worth $10,121,000 after purchasing an additional 58,220 shares during the last quarter. Meeder Asset Management Inc. grew its holdings in shares of MDU Resources Group by 58.2% during the first quarter. Meeder Asset Management Inc. now owns 54,111 shares of the utilities provider’s stock worth $1,364,000 after purchasing an additional 19,916 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of MDU Resources Group during the second quarter worth about $2,198,000. Finally, First Trust Advisors LP lifted its holdings in shares of MDU Resources Group by 1.8% in the 4th quarter. First Trust Advisors LP now owns 2,561,113 shares of the utilities provider’s stock valued at $50,710,000 after purchasing an additional 44,067 shares during the last quarter. 71.44% of the stock is owned by institutional investors and hedge funds.

MDU Resources Group Trading Up 7.2 %

NYSE MDU opened at $27.41 on Monday. The firm’s fifty day moving average is $25.45 and its two-hundred day moving average is $24.78. MDU Resources Group, Inc. has a one year low of $18.04 and a one year high of $27.75. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.15 and a current ratio of 1.22. The firm has a market cap of $5.59 billion, a PE ratio of 11.71, a P/E/G ratio of 2.70 and a beta of 0.77.

MDU Resources Group (NYSE:MDU) last issued its quarterly earnings results on Thursday, August 8th. The utilities provider reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.11. MDU Resources Group had a return on equity of 11.29% and a net margin of 9.25%. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the previous year, the firm posted $0.29 EPS. The firm’s revenue for the quarter was down 4.0% on a year-over-year basis. Analysts expect that MDU Resources Group, Inc. will post 1.55 earnings per share for the current year.

MDU Resources Group Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Thursday, September 12th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, September 12th. This is an increase from MDU Resources Group’s previous quarterly dividend of $0.13. This represents a $0.52 annualized dividend and a dividend yield of 1.90%. MDU Resources Group’s dividend payout ratio (DPR) is currently 21.37%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Argus raised MDU Resources Group from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research report on Monday, May 20th. StockNews.com lowered shares of MDU Resources Group from a “buy” rating to a “hold” rating in a research report on Friday, July 26th.

MDU Resources Group Company Profile

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.