American International Group Inc. Acquires 1,078 Shares of Mdu Resources Group Inc (MDU)
American International Group Inc. increased its holdings in Mdu Resources Group Inc (NYSE:MDU) by 0.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 399,505 shares of the utilities provider’s stock after buying an additional 1,078 shares during the period. American International Group Inc.’s holdings in Mdu Resources Group were worth $9,524,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also made changes to their positions in the company. Russell Investments Group Ltd. raised its holdings in Mdu Resources Group by 98.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 133,612 shares of the utilities provider’s stock valued at $3,426,000 after acquiring an additional 66,422 shares during the period. Wells Fargo & Company MN increased its holdings in shares of Mdu Resources Group by 14.5% in the third quarter. Wells Fargo & Company MN now owns 1,228,421 shares of the utilities provider’s stock worth $31,558,000 after purchasing an additional 155,877 shares during the period. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Mdu Resources Group by 21.4% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 15,991 shares of the utilities provider’s stock worth $411,000 after purchasing an additional 2,818 shares during the period. WINTON GROUP Ltd bought a new position in shares of Mdu Resources Group in the third quarter worth $243,000. Finally, SG Americas Securities LLC increased its holdings in shares of Mdu Resources Group by 194.7% in the third quarter. SG Americas Securities LLC now owns 103,344 shares of the utilities provider’s stock worth $2,655,000 after purchasing an additional 68,277 shares during the period. 66.17% of the stock is currently owned by institutional investors and hedge funds.
Separately, Zacks Investment Research raised shares of Mdu Resources Group from a “sell” rating to a “buy” rating and set a $26.00 price target on the stock in a report on Thursday, January 3rd.
Mdu Resources Group stock opened at $25.75 on Friday. The firm has a market capitalization of $5.06 billion, a PE ratio of 18.66, a PEG ratio of 2.98 and a beta of 0.68. Mdu Resources Group Inc has a fifty-two week low of $22.73 and a fifty-two week high of $29.62. The company has a current ratio of 1.20, a quick ratio of 0.91 and a debt-to-equity ratio of 0.72.
Mdu Resources Group (NYSE:MDU) last released its quarterly earnings results on Tuesday, February 5th. The utilities provider reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.03). The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.20 billion. Mdu Resources Group had a return on equity of 10.80% and a net margin of 6.01%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.59 EPS. As a group, sell-side analysts anticipate that Mdu Resources Group Inc will post 1.48 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Thursday, March 14th will be issued a $0.2025 dividend. The ex-dividend date is Wednesday, March 13th. This represents a $0.81 annualized dividend and a dividend yield of 3.15%. Mdu Resources Group’s payout ratio is currently 58.70%.
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Mdu Resources Group Profile
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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