MDU Resources Group, Inc. (MDU) Position Increased by Stockman Asset Management
Stockman Asset Management raised its stake in shares of MDU Resources Group, Inc. (NYSE:MDU) by 2.5% during the third quarter, Holdings Channel reports. The institutional investor owned 186,022 shares of the company’s stock after buying an additional 4,527 shares during the period. MDU Resources Group makes up approximately 2.9% of Stockman Asset Management’s holdings, making the stock its 3rd largest position. Stockman Asset Management owned about 0.10% of MDU Resources Group worth $4,732,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. World Asset Management Inc boosted its stake in shares of MDU Resources Group by 27.9% in the third quarter. World Asset Management Inc now owns 14,637 shares of the company’s stock valued at $372,000 after buying an additional 3,194 shares in the last quarter. First Citizens Bank & Trust Co. purchased a new position in shares of MDU Resources Group during the third quarter valued at approximately $468,000. Old Mutual Global Investors UK Ltd. increased its position in shares of MDU Resources Group by 288.3% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 298,847 shares of the company’s stock valued at $7,602,000 after buying an additional 221,884 shares during the last quarter. Great West Life Assurance Co. Can increased its position in shares of MDU Resources Group by 17.2% in the third quarter. Great West Life Assurance Co. Can now owns 423,865 shares of the company’s stock valued at $10,785,000 after buying an additional 62,318 shares during the last quarter. Finally, Hermes Investment Management Ltd. increased its position in shares of MDU Resources Group by 4.2% in the third quarter. Hermes Investment Management Ltd. now owns 1,412,523 shares of the company’s stock valued at $35,935,000 after buying an additional 57,059 shares during the last quarter. Hedge funds and other institutional investors own 64.55% of the company’s stock.
Shares of MDU Resources Group, Inc. (NYSE:MDU) traded up 0.80% during trading on Friday, reaching $28.88. 258,277 shares of the company traded hands. The stock has a market capitalization of $5.64 billion, a PE ratio of 111.51 and a beta of 0.84. MDU Resources Group, Inc. has a 52 week low of $15.58 and a 52 week high of $29.92. The firm has a 50 day moving average of $28.91 and a 200 day moving average of $25.71.
MDU Resources Group (NYSE:MDU) last announced its earnings results on Wednesday, November 2nd. The company reported $0.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.02. MDU Resources Group had a net margin of 1.21% and a return on equity of 9.16%. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same quarter last year, the business earned $0.38 earnings per share. The company’s revenue for the quarter was up .9% compared to the same quarter last year. On average, equities analysts predict that MDU Resources Group, Inc. will post $1.14 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Sunday, January 1st. Stockholders of record on Thursday, December 8th were given a $0.1925 dividend. This is a positive change from MDU Resources Group’s previous quarterly dividend of $0.19. The ex-dividend date was Tuesday, December 6th. This represents a $0.77 annualized dividend and a dividend yield of 2.69%. MDU Resources Group’s dividend payout ratio (DPR) is 296.17%.
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Several equities analysts recently commented on MDU shares. Zacks Investment Research upgraded shares of MDU Resources Group from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a report on Tuesday, December 20th. DA Davidson reiterated a “hold” rating on shares of MDU Resources Group in a report on Monday, November 7th. Finally, Argus reiterated a “buy” rating and set a $36.00 price target (up from $29.00) on shares of MDU Resources Group in a report on Tuesday, December 20th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. MDU Resources Group has an average rating of “Buy” and a consensus price target of $28.00.
In other news, Director Patricia L. Moss sold 4,050 shares of MDU Resources Group stock in a transaction dated Tuesday, November 29th. The shares were sold at an average price of $28.30, for a total value of $114,615.00. Following the sale, the director now owns 75,418 shares in the company, valued at $2,134,329.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.10% of the stock is currently owned by insiders.
About MDU Resources Group
MDU Resources Group, Inc is a diversified natural resource company. Montana-Dakota Utilities Co (Montana-Dakota) is a public utility division of the Company. Montana-Dakota, through the electric and natural gas distribution segments, generates, transmits and distributes electricity and distributes natural gas.
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