Convergence Investment Partners LLC purchased a new stake in MDU Resources Group Inc (NYSE:MDU) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 61,665 shares of the utilities provider’s stock, valued at approximately $1,600,000.
Other hedge funds have also added to or reduced their stakes in the company. AT Bancorp purchased a new position in MDU Resources Group during the 2nd quarter worth $131,000. Global X Management Co. LLC raised its position in MDU Resources Group by 220.3% during the 2nd quarter. Global X Management Co. LLC now owns 6,198 shares of the utilities provider’s stock worth $162,000 after buying an additional 4,263 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in MDU Resources Group by 8.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,671 shares of the utilities provider’s stock worth $175,000 after buying an additional 537 shares during the last quarter. Mosaic Family Wealth LLC raised its position in MDU Resources Group by 5.7% during the 2nd quarter. Mosaic Family Wealth LLC now owns 6,972 shares of the utilities provider’s stock worth $183,000 after buying an additional 374 shares during the last quarter. Finally, Ffcm LLC raised its position in MDU Resources Group by 5.7% during the 2nd quarter. Ffcm LLC now owns 7,360 shares of the utilities provider’s stock worth $193,000 after buying an additional 396 shares during the last quarter. Hedge funds and other institutional investors own 63.61% of the company’s stock.
MDU Resources Group Inc (NYSE:MDU) traded down $0.37 during trading hours on Wednesday, hitting $27.65. 895,900 shares of the stock were exchanged, compared to its average volume of 847,684. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.28. MDU Resources Group Inc has a fifty-two week low of $25.14 and a fifty-two week high of $29.92. The firm has a market cap of $5,472.43, a PE ratio of 23.55, a PEG ratio of 2.93 and a beta of 0.91.
MDU Resources Group (NYSE:MDU) last posted its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $0.46 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.03). MDU Resources Group had a return on equity of 10.20% and a net margin of 5.39%. The company had revenue of $1.27 billion for the quarter. During the same quarter in the previous year, the business posted $0.45 earnings per share. analysts forecast that MDU Resources Group Inc will post 1.19 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Thursday, December 14th will be paid a dividend of $0.1975 per share. The ex-dividend date of this dividend is Wednesday, December 13th. This is a boost from MDU Resources Group’s previous quarterly dividend of $0.19. This represents a $0.79 dividend on an annualized basis and a dividend yield of 2.86%. MDU Resources Group’s dividend payout ratio is 65.25%.
A number of equities analysts have commented on the stock. Zacks Investment Research upgraded shares of MDU Resources Group from a “sell” rating to a “hold” rating in a research report on Tuesday, September 26th. KeyCorp restated a “buy” rating and set a $28.00 price objective on shares of MDU Resources Group in a research report on Friday, September 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $30.75.
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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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