Ameriprise Financial Inc. raised its position in shares of MDU Resources Group Inc. (NYSE:MDU) by 1.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 502,283 shares of the company’s stock after buying an additional 6,133 shares during the period. Ameriprise Financial Inc. owned about 0.26% of MDU Resources Group worth $12,268,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. State Street Corp increased its stake in MDU Resources Group by 9.7% in the first quarter. State Street Corp now owns 15,317,653 shares of the company’s stock worth $298,091,000 after buying an additional 1,348,586 shares during the last quarter. BlackRock Fund Advisors increased its stake in MDU Resources Group by 0.3% in the first quarter. BlackRock Fund Advisors now owns 6,394,638 shares of the company’s stock worth $124,440,000 after buying an additional 21,622 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in MDU Resources Group by 2.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 5,796,854 shares of the company’s stock worth $112,807,000 after buying an additional 134,466 shares during the last quarter. Prudential Financial Inc. increased its stake in MDU Resources Group by 231.6% in the first quarter. Prudential Financial Inc. now owns 2,496,864 shares of the company’s stock worth $48,589,000 after buying an additional 1,743,872 shares during the last quarter. Finally, Heartland Advisors Inc. increased its stake in MDU Resources Group by 23.3% in the second quarter. Heartland Advisors Inc. now owns 2,052,991 shares of the company’s stock worth $49,272,000 after buying an additional 388,370 shares during the last quarter. Institutional investors own 63.16% of the company’s stock.
MDU Resources Group Inc. (NYSE:MDU) traded up 1.006% during mid-day trading on Wednesday, hitting $25.605. 431,420 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $23.86 and its 200-day moving average price is $22.31. MDU Resources Group Inc. has a 12 month low of $15.58 and a 12 month high of $25.79. The stock’s market cap is $5.00 billion.
MDU Resources Group (NYSE:MDU) last released its earnings results on Wednesday, August 3rd. The company reported $0.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.03. MDU Resources Group had a negative net margin of 3.99% and a positive return on equity of 8.39%. The firm earned $1.04 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the prior year, the firm earned $0.15 EPS. The company’s revenue was up 11.3% compared to the same quarter last year. Equities analysts expect that MDU Resources Group Inc. will post $1.12 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Saturday, October 1st. Stockholders of record on Thursday, September 8th will be given a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date is Tuesday, September 6th. MDU Resources Group’s dividend payout ratio is currently -85.23%.
MDU has been the subject of a number of analyst reports. Zacks Investment Research downgraded shares of MDU Resources Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 19th. Williams Capital restated a “buy” rating on shares of MDU Resources Group in a research report on Friday, August 12th. Finally, Argus upgraded shares of MDU Resources Group from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research report on Tuesday, May 31st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $21.90.
In other news, Director Thomas S. Everist sold 30,000 shares of the stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $23.71, for a total transaction of $711,300.00. Following the completion of the transaction, the director now directly owns 79,572 shares of the company’s stock, valued at approximately $1,886,652.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.10% of the company’s stock.
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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