Kestrel Investment Management Corp Invests $5.84 Million in MDU Resources Group, Inc. (NYSE:MDU)

Kestrel Investment Management Corp purchased a new stake in shares of MDU Resources Group, Inc. (NYSE:MDU) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 324,300 shares of the utilities provider’s stock, valued at approximately $5,844,000. MDU Resources Group makes up about 3.2% of Kestrel Investment Management Corp’s portfolio, making the stock its 12th largest holding.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of MDU Resources Group by 16.6% in the fourth quarter. Vanguard Group Inc. now owns 22,997,452 shares of the utilities provider’s stock worth $414,414,000 after purchasing an additional 3,276,114 shares during the last quarter. State Street Corp lifted its stake in MDU Resources Group by 1.8% during the 3rd quarter. State Street Corp now owns 6,344,185 shares of the utilities provider’s stock valued at $174,713,000 after acquiring an additional 114,719 shares during the period. Geode Capital Management LLC boosted its holdings in shares of MDU Resources Group by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 3,719,543 shares of the utilities provider’s stock valued at $101,978,000 after acquiring an additional 65,433 shares during the last quarter. Pertento Partners LLP grew its stake in shares of MDU Resources Group by 90.3% in the fourth quarter. Pertento Partners LLP now owns 2,990,144 shares of the utilities provider’s stock worth $53,882,000 after acquiring an additional 1,419,118 shares during the period. Finally, Norges Bank purchased a new position in shares of MDU Resources Group during the fourth quarter valued at approximately $40,857,000. 71.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at MDU Resources Group

In other MDU Resources Group news, Director Dennis W. Johnson bought 30,000 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was purchased at an average cost of $16.64 per share, with a total value of $499,200.00. Following the completion of the acquisition, 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 position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. StockNews.com downgraded shares of MDU Resources Group from a “hold” rating to a “sell” rating in a research report on Thursday, February 20th. Jefferies Financial Group began coverage on MDU Resources Group in a research report on Wednesday, January 8th. They set a “hold” rating and a $18.00 price objective for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $21.00.

MDU Resources Group Price Performance

NYSE:MDU opened at $16.67 on Monday. The stock has a market cap of $3.41 billion, a PE ratio of 12.08, a P/E/G ratio of 2.76 and a beta of 0.81. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.73. The business’s 50-day simple moving average is $17.11 and its two-hundred day simple moving average is $20.39. MDU Resources Group, Inc. has a 52 week low of $12.99 and a 52 week high of $20.39.

MDU Resources Group (NYSE:MDU) last released its earnings results on Thursday, February 6th. The utilities provider reported $0.34 EPS for the quarter, topping the consensus estimate of $0.31 by $0.03. MDU Resources Group had a net margin of 7.31% and a return on equity of 10.20%. As a group, analysts forecast that MDU Resources Group, Inc. will post 0.94 EPS for the current fiscal year.

MDU Resources Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Thursday, March 13th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend is Thursday, March 13th. MDU Resources Group’s payout ratio is presently 37.68%.

MDU Resources Group 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.