Anchor Investment Management LLC Sells 3,000 Shares of MDU Resources Group, Inc. (NYSE:MDU)

Anchor Investment Management LLC cut its holdings in MDU Resources Group, Inc. (NYSE:MDU) by 33.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,000 shares of the utilities provider’s stock after selling 3,000 shares during the period. Anchor Investment Management LLC’s holdings in MDU Resources Group were worth $151,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in MDU. Hsbc Holdings PLC bought a new position in shares of MDU Resources Group in the 4th quarter worth about $1,271,000. Treasurer of the State of North Carolina increased its position in MDU Resources Group by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 89,606 shares of the utilities provider’s stock valued at $1,774,000 after buying an additional 870 shares in the last quarter. TFO Wealth Partners LLC increased its position in MDU Resources Group by 16,070.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,617 shares of the utilities provider’s stock valued at $32,000 after buying an additional 1,607 shares in the last quarter. First Trust Advisors LP increased its position in MDU Resources Group by 1.8% in the 4th quarter. First Trust Advisors LP now owns 2,561,113 shares of the utilities provider’s stock valued at $50,710,000 after buying an additional 44,067 shares in the last quarter. Finally, Frontier Capital Management Co. LLC increased its position in MDU Resources Group by 3.2% in the 4th quarter. Frontier Capital Management Co. LLC now owns 2,141,514 shares of the utilities provider’s stock valued at $42,402,000 after buying an additional 67,273 shares in the last quarter. 71.44% of the stock is owned by institutional investors.

MDU Resources Group Stock Performance

Shares of MDU Resources Group stock opened at $27.25 on Friday. The firm has a market capitalization of $5.56 billion, a price-to-earnings ratio of 11.65, a PEG ratio of 2.62 and a beta of 0.77. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.22 and a quick ratio of 1.15. MDU Resources Group, Inc. has a one year low of $18.04 and a one year high of $27.92. The business has a 50-day simple moving average of $25.83 and a 200 day simple moving average of $25.26.

MDU Resources Group (NYSE:MDU) last posted its earnings results on Thursday, August 8th. The utilities provider reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.11. MDU Resources Group had a return on equity of 11.29% and a net margin of 9.25%. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter last year, the company earned $0.29 earnings per share. The company’s revenue for the quarter was down 4.0% on a year-over-year basis. On average, research analysts anticipate that MDU Resources Group, Inc. will post 1.58 earnings per share for the current fiscal year.

MDU Resources Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Thursday, September 12th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.91%. This is an increase from MDU Resources Group’s previous quarterly dividend of $0.13. The ex-dividend date was Thursday, September 12th. MDU Resources Group’s payout ratio is currently 22.22%.

Analyst Ratings Changes

Separately, StockNews.com lowered MDU Resources Group from a “buy” rating to a “hold” rating in a research report on Friday, July 26th.

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.