Fenimore Asset Management Inc. Decreases Holdings in MDU Resources Group Inc (MDU)

Fenimore Asset Management Inc. reduced its stake in MDU Resources Group Inc (NYSE:MDU) by 0.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 254,165 shares of the utilities provider’s stock after selling 1,538 shares during the quarter. Fenimore Asset Management Inc.’s holdings in MDU Resources Group were worth $6,059,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Bruderman Asset Management LLC boosted its stake in MDU Resources Group by 374.0% in the second quarter. Bruderman Asset Management LLC now owns 5,332 shares of the utilities provider’s stock valued at $153,000 after acquiring an additional 4,207 shares during the period. Point72 Hong Kong Ltd acquired a new position in MDU Resources Group in the third quarter valued at approximately $179,000. Ffcm LLC boosted its stake in MDU Resources Group by 441.5% in the third quarter. Ffcm LLC now owns 7,408 shares of the utilities provider’s stock valued at $190,000 after acquiring an additional 6,040 shares during the period. Signition LP acquired a new position in MDU Resources Group in the third quarter valued at approximately $207,000. Finally, Campbell & CO Investment Adviser LLC acquired a new position in MDU Resources Group in the third quarter valued at approximately $231,000. Institutional investors own 64.44% of the company’s stock.

Shares of NYSE MDU opened at $24.29 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.67 and a quick ratio of 1.30. The company has a market cap of $4.71 billion, a PE ratio of 19.43, a price-to-earnings-growth ratio of 2.65 and a beta of 0.60. MDU Resources Group Inc has a 12-month low of $22.73 and a 12-month high of $29.62.

MDU Resources Group (NYSE:MDU) last issued its quarterly earnings data on Wednesday, October 31st. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.01). The business had revenue of $1.28 billion for the quarter. MDU Resources Group had a return on equity of 10.95% and a net margin of 6.88%. The company’s revenue for the quarter was up .7% on a year-over-year basis. During the same period in the previous year, the company posted $0.46 EPS. On average, analysts predict that MDU Resources Group Inc will post 1.37 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 1st. Stockholders of record on Thursday, December 13th were given a dividend of $0.2025 per share. The ex-dividend date was Wednesday, December 12th. This is an increase from MDU Resources Group’s previous quarterly dividend of $0.20. This represents a $0.81 annualized dividend and a dividend yield of 3.33%. MDU Resources Group’s payout ratio is currently 64.80%.

Separately, Zacks Investment Research upgraded MDU Resources Group from a “sell” rating to a “buy” rating and set a $26.00 target price for the company in a research note on Thursday, January 3rd. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $28.25.

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About MDU Resources Group

MDU Resources Group, Inc engages in regulated energy delivery, and construction materials and services businesses in the United States. The company operates through five segments: Electric, Natural Gas Distribution, Pipeline and Midstream, Construction Materials and Contracting, and Construction Services.

Further Reading: Cost of Debt

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

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