Tiaa Fsb Buys New Holdings in MDU Resources Group, Inc. (MDU)
Tiaa Fsb bought a new position in MDU Resources Group, Inc. (NYSE:MDU) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 31,491 shares of the utilities provider’s stock, valued at approximately $825,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of MDU. Russell Investments Group Ltd. lifted its holdings in MDU Resources Group by 39.9% in the 1st quarter. Russell Investments Group Ltd. now owns 48,631 shares of the utilities provider’s stock worth $1,331,000 after purchasing an additional 13,868 shares during the last quarter. American Century Companies Inc. acquired a new stake in MDU Resources Group in the 1st quarter worth approximately $1,321,000. World Asset Management Inc lifted its holdings in MDU Resources Group by 1.3% in the 1st quarter. World Asset Management Inc now owns 13,759 shares of the utilities provider’s stock worth $377,000 after purchasing an additional 180 shares during the last quarter. UBS Asset Management Americas Inc. lifted its holdings in MDU Resources Group by 5.6% in the 1st quarter. UBS Asset Management Americas Inc. now owns 160,467 shares of the utilities provider’s stock worth $4,392,000 after purchasing an additional 8,439 shares during the last quarter. Finally, Karp Capital Management Corp acquired a new stake in MDU Resources Group in the 1st quarter worth approximately $1,320,000. Hedge funds and other institutional investors own 63.55% of the company’s stock.
MDU has been the subject of several analyst reports. KeyCorp restated a “buy” rating and issued a $28.00 target price on shares of MDU Resources Group in a report on Friday, September 1st. BidaskClub upgraded MDU Resources Group from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Finally, Zacks Investment Research upgraded MDU Resources Group from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, four 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 price target of $31.25.
MDU Resources Group, Inc. (MDU) opened at 25.99 on Friday. The firm has a market capitalization of $5.08 billion, a price-to-earnings ratio of 22.60 and a beta of 0.92. The stock’s 50 day moving average price is $26.49 and its 200-day moving average price is $26.64. MDU Resources Group, Inc. has a one year low of $24.30 and a one year high of $29.92.
MDU Resources Group (NYSE:MDU) last released its quarterly earnings data on Tuesday, August 1st. The utilities provider reported $0.22 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.03). MDU Resources Group had a net margin of 5.37% and a return on equity of 10.24%. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same period in the previous year, the business earned $0.24 earnings per share. The business’s quarterly revenue was up 2.3% on a year-over-year basis. On average, equities research analysts expect that MDU Resources Group, Inc. will post $1.21 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Thursday, September 14th will be given a $0.1925 dividend. The ex-dividend date of this dividend is Wednesday, September 13th. This represents a $0.77 dividend on an annualized basis and a dividend yield of 2.96%. MDU Resources Group’s payout ratio is 66.96%.
In other MDU Resources Group news, CEO David L. Goodin acquired 5,000 shares of the business’s stock in a transaction dated Friday, August 11th. The stock was bought 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 directly owns 95,210 shares in the company, valued at approximately $2,434,519.70. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company 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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