MDU Resources Group Inc (MDU) Holdings Lifted by Sei Investments Co.
Sei Investments Co. boosted its holdings in shares of MDU Resources Group Inc (NYSE:MDU) by 36.5% during the 2nd quarter, HoldingsChannel reports. The fund owned 48,274 shares of the utilities provider’s stock after purchasing an additional 12,911 shares during the period. Sei Investments Co.’s holdings in MDU Resources Group were worth $1,385,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the business. Wells Fargo & Company MN lifted its position in shares of MDU Resources Group by 74.4% during the first quarter. Wells Fargo & Company MN now owns 896,778 shares of the utilities provider’s stock worth $25,254,000 after purchasing an additional 382,458 shares in the last quarter. Mackay Shields LLC acquired a new stake in shares of MDU Resources Group during the first quarter worth about $902,000. Victory Capital Management Inc. lifted its position in shares of MDU Resources Group by 65.1% during the first quarter. Victory Capital Management Inc. now owns 553,374 shares of the utilities provider’s stock worth $15,583,000 after purchasing an additional 218,191 shares in the last quarter. Swiss National Bank lifted its position in shares of MDU Resources Group by 2.2% during the first quarter. Swiss National Bank now owns 322,990 shares of the utilities provider’s stock worth $9,095,000 after purchasing an additional 7,000 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC acquired a new stake in shares of MDU Resources Group during the first quarter worth about $485,000. Hedge funds and other institutional investors own 63.92% of the company’s stock.
Shares of MDU opened at $27.72 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.05 and a current ratio of 1.39. MDU Resources Group Inc has a 1 year low of $24.29 and a 1 year high of $29.62. The stock has a market cap of $5.43 billion, a PE ratio of 21.49, a price-to-earnings-growth ratio of 3.08 and a beta of 0.59.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Thursday, September 13th will be paid a dividend of $0.1975 per share. The ex-dividend date of this dividend is Wednesday, September 12th. This represents a $0.79 dividend on an annualized basis and a dividend yield of 2.85%. MDU Resources Group’s payout ratio is 63.20%.
MDU has been the topic of several research reports. KeyCorp increased their price target on shares of MDU Resources Group from $29.00 to $30.00 and gave the stock a “$29.34” rating in a research report on Thursday, July 19th. Citigroup increased their price target on shares of MDU Resources Group from $28.00 to $29.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 31st. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. MDU Resources Group currently has an average rating of “Buy” and an average price target of $29.25.
About MDU Resources Group
MDU Resources Group, Inc engages in regulated energy delivery, and construction materials and services businesses in the United States. The company operates through five segments: Electric, Natural Gas Distribution, Pipeline and Midstream, Construction Materials and Contracting, and Construction Services.
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