Dark Forest Capital Management LP Grows Holdings in MDU Resources Group, Inc. (NYSE:MDU)

Dark Forest Capital Management LP boosted its holdings in shares of MDU Resources Group, Inc. (NYSE:MDU) by 2,013.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,404 shares of the utilities provider’s stock after acquiring an additional 15,628 shares during the period. Dark Forest Capital Management LP’s holdings in MDU Resources Group were worth $500,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of MDU. Vanguard Group Inc. increased its stake in MDU Resources Group by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 21,677,094 shares of the utilities provider’s stock valued at $592,868,000 after purchasing an additional 218,558 shares in the last quarter. State Street Corp raised its holdings in MDU Resources Group by 12.5% in the 1st quarter. State Street Corp now owns 15,468,160 shares of the utilities provider’s stock worth $415,454,000 after acquiring an additional 1,716,930 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in MDU Resources Group by 2.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,255,578 shares of the utilities provider’s stock valued at $159,457,000 after acquiring an additional 149,872 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in MDU Resources Group by 2.9% during the 1st quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,306,395 shares of the utilities provider’s stock valued at $100,779,000 after purchasing an additional 92,011 shares during the last quarter. Finally, FMR LLC increased its holdings in shares of MDU Resources Group by 32.9% in the 1st quarter. FMR LLC now owns 3,301,805 shares of the utilities provider’s stock worth $100,639,000 after purchasing an additional 817,621 shares in the last quarter. Institutional investors own 71.24% of the company’s stock.

MDU Resources Group Stock Performance

Shares of NYSE MDU traded up $0.14 during midday trading on Friday, hitting $20.50. 126,343 shares of the stock traded hands, compared to its average volume of 1,640,745. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.31 and a current ratio of 1.37. MDU Resources Group, Inc. has a one year low of $18.47 and a one year high of $22.55. The firm has a market capitalization of $4.17 billion, a P/E ratio of 9.56, a PEG ratio of 2.57 and a beta of 0.76. The firm has a 50-day moving average of $21.11 and a two-hundred day moving average of $25.81.

MDU Resources Group (NYSE:MDU) last announced its earnings results on Thursday, August 3rd. The utilities provider reported $0.29 earnings per share (EPS) for the quarter. The business had revenue of $1.09 billion for the quarter. MDU Resources Group had a return on equity of 11.50% and a net margin of 6.51%. On average, equities analysts forecast that MDU Resources Group, Inc. will post 1.36 EPS for the current fiscal year.

MDU Resources Group Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Thursday, September 14th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Wednesday, September 13th. This represents a $0.50 annualized dividend and a yield of 2.44%. MDU Resources Group’s dividend payout ratio (DPR) is 41.78%.

Analyst Ratings Changes

MDU has been the subject of a number of recent analyst reports. Bank of America raised MDU Resources Group from an “underperform” rating to a “buy” rating in a research report on Thursday, June 1st. StockNews.com assumed coverage on shares of MDU Resources Group in a report on Thursday, August 17th. They set a “hold” rating for the company.

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 five segments: Electric, Natural Gas Distribution, Pipeline, Construction Materials and Contracting, 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 84 transmission and 294 distribution substations.