Cubist Systematic Strategies LLC Acquires Shares of 186,521 MDU Resources Group, Inc. (NYSE:MDU)

Cubist Systematic Strategies LLC bought a new position in shares of MDU Resources Group, Inc. (NYSE:MDU) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 186,521 shares of the utilities provider’s stock, valued at approximately $3,361,000. Cubist Systematic Strategies LLC owned approximately 0.09% of MDU Resources Group at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of MDU. Vanguard Group Inc. lifted its holdings in MDU Resources Group by 16.6% during the 4th quarter. Vanguard Group Inc. now owns 22,997,452 shares of the utilities provider’s stock worth $414,414,000 after buying an additional 3,276,114 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in MDU Resources Group by 6.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 8,186,994 shares of the utilities provider’s stock valued at $147,530,000 after acquiring an additional 467,355 shares during the last quarter. First Trust Advisors LP increased its position in MDU Resources Group by 132.0% in the fourth quarter. First Trust Advisors LP now owns 6,999,856 shares of the utilities provider’s stock worth $126,137,000 after purchasing an additional 3,982,783 shares during the period. Pertento Partners LLP raised its holdings in MDU Resources Group by 90.3% during the 4th quarter. Pertento Partners LLP now owns 2,990,144 shares of the utilities provider’s stock worth $53,882,000 after purchasing an additional 1,419,118 shares during the last quarter. Finally, Norges Bank acquired a new position in MDU Resources Group during the 4th quarter valued at about $40,857,000. 71.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of MDU Resources Group from a “hold” rating to a “sell” rating in a research note on Thursday, February 20th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $21.00.

Insiders Place Their Bets

In other MDU Resources Group news, Director Dennis W. Johnson bought 30,000 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was acquired at an average cost of $16.64 per share, with a total value of $499,200.00. Following the purchase, the director now owns 180,166 shares in the company, valued at $2,997,962.24. This trade represents a 19.98 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.94% of the company’s stock.

MDU Resources Group Price Performance

MDU Resources Group stock opened at $17.36 on Friday. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $3.55 billion, a P/E ratio of 12.58, a PEG ratio of 2.76 and a beta of 0.72. The business has a 50-day moving average of $16.79 and a 200-day moving average of $18.05. MDU Resources Group, Inc. has a 1 year low of $13.23 and a 1 year high of $20.39.

MDU Resources Group (NYSE:MDU) last issued its quarterly earnings data on Thursday, May 8th. The utilities provider reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. MDU Resources Group had a net margin of 7.31% and a return on equity of 10.20%. The firm had revenue of $674.80 million during the quarter, compared to analysts’ expectations of $653.13 million. During the same quarter in the previous year, the company earned $0.52 earnings per share. The business’s revenue for the quarter was up 14.7% on a year-over-year basis. On average, equities analysts anticipate that MDU Resources Group, Inc. will post 0.94 EPS for the current year.

MDU Resources Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Thursday, March 13th were paid a $0.13 dividend. The ex-dividend date was Thursday, March 13th. This represents a $0.52 dividend on an annualized basis and a yield of 3.00%. MDU Resources Group’s payout ratio is 37.68%.

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.