Neo Ivy Capital Management Makes New Investment in MDU Resources Group, Inc. (NYSE:MDU)

Neo Ivy Capital Management bought a new stake in MDU Resources Group, Inc. (NYSE:MDU) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 72,471 shares of the utilities provider’s stock, valued at approximately $1,305,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of MDU. First Trust Advisors LP raised its holdings in MDU Resources Group by 132.0% in the 4th quarter. First Trust Advisors LP now owns 6,999,856 shares of the utilities provider’s stock valued at $126,137,000 after acquiring an additional 3,982,783 shares during the last quarter. Vanguard Group Inc. grew its position 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 valued at $414,414,000 after purchasing an additional 3,276,114 shares in the last quarter. Norges Bank purchased a new stake in shares of MDU Resources Group in the fourth quarter valued at approximately $40,857,000. Pertento Partners LLP increased its holdings 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 valued at $53,882,000 after purchasing an additional 1,419,118 shares during the last quarter. Finally, Brandywine Global Investment Management LLC lifted its position in MDU Resources Group by 300.1% during the fourth quarter. Brandywine Global Investment Management LLC now owns 691,993 shares of the utilities provider’s stock worth $12,470,000 after buying an additional 519,029 shares in the last quarter. 71.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded MDU Resources Group from a “sell” rating to a “hold” rating in a report on Monday, May 12th.

MDU Resources Group Stock Performance

MDU Resources Group stock opened at $17.06 on Friday. The firm has a 50 day simple moving average of $16.87 and a 200-day simple moving average of $17.58. The stock has a market cap of $3.48 billion, a price-to-earnings ratio of 12.36, a price-to-earnings-growth ratio of 2.76 and a beta of 0.72. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.15 and a quick ratio of 1.07. 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 for the quarter, topping the consensus estimate of $0.36 by $0.04. MDU Resources Group had a return on equity of 10.20% and a net margin of 7.31%. The company had revenue of $674.80 million during the quarter, compared to analyst estimates of $653.13 million. During the same period in the prior year, the business posted $0.52 earnings per share. The firm’s revenue for the quarter was up 14.7% compared to the same quarter last year. On average, analysts expect that MDU Resources Group, Inc. will post 0.94 EPS for the current year.

MDU Resources Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Thursday, June 12th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 3.05%. MDU Resources Group’s dividend payout ratio (DPR) is presently 40.31%.

About MDU Resources Group

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.