Illinois Municipal Retirement Fund Has $2.73 Million Holdings in MDU Resources Group, Inc. (NYSE:MDU)

Illinois Municipal Retirement Fund boosted its position in shares of MDU Resources Group, Inc. (NYSE:MDU) by 305.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 151,668 shares of the utilities provider’s stock after buying an additional 114,229 shares during the period. Illinois Municipal Retirement Fund’s holdings in MDU Resources Group were worth $2,733,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Assenagon Asset Management S.A. bought a new stake in MDU Resources Group during the third quarter worth $2,234,000. Foundry Partners LLC acquired a new position in MDU Resources Group during the 3rd quarter worth approximately $4,594,000. Friedenthal Financial bought a new position in MDU Resources Group in the 4th quarter valued at approximately $778,000. Charles Schwab Investment Management Inc. boosted its position in MDU Resources Group by 5.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,082,468 shares of the utilities provider’s stock valued at $57,080,000 after buying an additional 101,955 shares in the last quarter. Finally, Cascade Investment Advisors Inc. grew its stake in shares of MDU Resources Group by 21.3% during the fourth quarter. Cascade Investment Advisors Inc. now owns 81,626 shares of the utilities provider’s stock worth $1,471,000 after buying an additional 14,360 shares during the last quarter. 71.44% of the stock is owned by institutional investors.

MDU Resources Group Price Performance

Shares of NYSE MDU opened at $16.86 on Friday. The firm has a market capitalization of $3.44 billion, a P/E ratio of 12.21, a P/E/G ratio of 2.76 and a beta of 0.80. The firm’s 50-day moving average price is $17.63 and its 200-day moving average price is $21.63. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.73. MDU Resources Group, Inc. has a 1-year low of $14.91 and a 1-year high of $30.52.

MDU Resources Group (NYSE:MDU) last posted its quarterly earnings results on Thursday, February 6th. The utilities provider reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. MDU Resources Group had a return on equity of 10.20% and a net margin of 7.31%. Equities research analysts anticipate that MDU Resources Group, Inc. will post 0.94 earnings per share for the current fiscal year.

MDU Resources Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Thursday, March 13th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date is Thursday, March 13th. MDU Resources Group’s dividend payout ratio is currently 37.68%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Siebert Williams Shank upgraded MDU Resources Group from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a research report on Monday, November 4th. Jefferies Financial Group initiated coverage on shares of MDU Resources Group in a report on Wednesday, January 8th. They set a “hold” rating and a $18.00 price target on the stock. Bank of America upgraded MDU Resources Group from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $31.00 to $17.00 in a report on Tuesday, November 5th. Finally, StockNews.com downgraded MDU Resources Group from a “hold” rating to a “sell” rating in a report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, MDU Resources Group currently has an average rating of “Hold” and a consensus target price of $21.00.

Insider Activity at MDU Resources Group

In other MDU Resources Group news, Director Dennis W. Johnson acquired 30,000 shares of the stock in a transaction on Monday, February 10th. The shares were purchased at an average price of $16.64 per share, for a total transaction of $499,200.00. Following the completion of the acquisition, the director now owns 180,166 shares in the company, valued at approximately $2,997,962.24. This represents a 19.98 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is currently owned by insiders.

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.