DekaBank Deutsche Girozentrale raised its position in shares of MDU Resources Group, Inc. (NYSE:MDU) by 104.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 128,485 shares of the utilities provider’s stock after buying an additional 65,653 shares during the period. DekaBank Deutsche Girozentrale owned 0.07% of MDU Resources Group worth $3,364,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. AT Bancorp purchased a new position in shares of MDU Resources Group during the second quarter valued at about $131,000. Global X Management Co. LLC boosted its position in shares of MDU Resources Group by 220.3% in the second quarter. Global X Management Co. LLC now owns 6,198 shares of the utilities provider’s stock valued at $162,000 after buying an additional 4,263 shares during the period. Ffcm LLC boosted its position in shares of MDU Resources Group by 27.6% in the first quarter. Ffcm LLC now owns 6,964 shares of the utilities provider’s stock valued at $191,000 after buying an additional 1,508 shares during the period. Trexquant Investment LP purchased a new position in shares of MDU Resources Group during the second quarter valued at about $210,000. Finally, Bank of The West boosted its position in shares of MDU Resources Group by 0.3% in the second quarter. Bank of The West now owns 8,083 shares of the utilities provider’s stock valued at $212,000 after buying an additional 24 shares during the period. 62.93% of the stock is owned by institutional investors.
MDU Resources Group, Inc. (NYSE MDU) opened at 25.81 on Friday. The stock has a market capitalization of $5.04 billion, a PE ratio of 22.44 and a beta of 0.91. MDU Resources Group, Inc. has a one year low of $23.06 and a one year high of $29.92. The firm has a 50-day moving average of $25.92 and a 200 day moving average of $26.66.
MDU Resources Group (NYSE:MDU) last released its quarterly earnings results on Tuesday, August 1st. The utilities provider reported $0.22 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by $0.03. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.10 billion. MDU Resources Group had a net margin of 5.37% and a return on equity of 10.24%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.24 earnings per share. On average, equities research analysts anticipate that MDU Resources Group, Inc. will post $1.21 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Thursday, September 14th will be given a dividend of $0.1925 per share. This represents a $0.77 annualized dividend and a dividend yield of 2.98%. MDU Resources Group’s payout ratio is 66.96%.
MDU has been the subject of several recent analyst reports. Zacks Investment Research cut shares of MDU Resources Group from a “hold” rating to a “sell” rating in a report on Saturday, May 13th. BidaskClub cut shares of MDU Resources Group from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. MDU Resources Group presently has a consensus rating of “Hold” and an average price target of $32.33.
In other news, CEO David L. Goodin purchased 5,000 shares of the firm’s stock in a transaction on Friday, August 11th. The stock was acquired at an average cost of $25.57 per share, with a total value of $127,850.00. Following the completion of the transaction, the chief executive officer now owns 95,210 shares in the company, valued at approximately $2,434,519.70. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.95% of the company’s stock.
About MDU Resources Group
MDU Resources Group, Inc is engaged in regulated energy delivery and construction materials and services business. The Company’s businesses segments are electric, natural gas distribution, pipeline and midstream, construction materials and contracting, and construction services. The electric segment generates, transmits and distributes electricity.
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