JPMorgan Chase & Co. decreased its stake in MDU Resources Group Inc. (NYSE:MDU) by 6.2% during the second quarter, Holdings Channel reports. The firm owned 263,082 shares of the company’s stock after selling 17,537 shares during the period. JPMorgan Chase & Co. owned 0.13% of MDU Resources Group worth $6,314,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp boosted its stake in shares of 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 in the last quarter. BlackRock Fund Advisors boosted its stake in shares of 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 in the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in shares of 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 in the last quarter. Heartland Advisors Inc. boosted its stake in shares of 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 in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of MDU Resources Group by 30.9% in the first quarter. Goldman Sachs Group Inc. now owns 1,737,042 shares of the company’s stock worth $33,803,000 after buying an additional 410,251 shares in the last quarter. Hedge funds and other institutional investors own 63.17% of the company’s stock.
MDU Resources Group Inc. (NYSE:MDU) traded down 1.62% during trading on Tuesday, reaching $24.83. The company had a trading volume of 75,627 shares. The firm has a 50-day moving average of $24.34 and a 200-day moving average of $22.72. The stock’s market capitalization is $4.85 billion. MDU Resources Group Inc. has a 1-year low of $15.58 and a 1-year high of $25.79.
MDU Resources Group (NYSE:MDU) last posted its earnings results on Wednesday, August 3rd. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.21 by $0.03. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.07 billion. MDU Resources Group had a positive return on equity of 8.39% and a negative net margin of 3.99%. MDU Resources Group’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.15 earnings per share. On average, analysts anticipate that MDU Resources Group Inc. will post $1.13 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Saturday, October 1st. Investors of record on Thursday, September 8th were issued a $0.1875 dividend. This represents a $0.75 annualized dividend and a yield of 2.97%. The ex-dividend date of this dividend was Tuesday, September 6th. MDU Resources Group’s dividend payout ratio (DPR) is presently -85.23%.
A number of analysts have commented on MDU shares. Zacks Investment Research cut MDU Resources Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 19th. Williams Capital reaffirmed a “buy” rating on shares of MDU Resources Group in a research report on Friday, August 12th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. MDU Resources Group presently has an average rating of “Hold” and an average price target of $21.90.
In other MDU Resources Group news, Director Thomas S. Everist sold 30,000 shares of the firm’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $23.71, for a total transaction of $711,300.00. Following the transaction, the director now owns 79,572 shares of the company’s stock, valued at $1,886,652.12. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.10% of the stock is owned by corporate insiders.
MDU Resources Group Company Profile
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.
Want to see what other hedge funds are holding MDU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MDU Resources Group Inc. (NYSE:MDU).
Receive News & Ratings for MDU Resources Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MDU Resources Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.