Retirement Systems of Alabama boosted its stake in shares of MDU Resources Group Inc. (NYSE:MDU) by 0.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 251,934 shares of the company’s stock after buying an additional 147 shares during the period. Retirement Systems of Alabama’s holdings in MDU Resources Group were worth $6,046,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the stock. Goldman Sachs Group Inc. raised 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 valued at $33,803,000 after buying an additional 410,251 shares during the last quarter. BlackRock Group LTD raised its stake in shares of MDU Resources Group by 6.2% in the first quarter. BlackRock Group LTD now owns 610,292 shares of the company’s stock valued at $11,876,000 after buying an additional 35,516 shares during the last quarter. Hermes Investment Management Ltd. raised its stake in shares of MDU Resources Group by 13.1% in the second quarter. Hermes Investment Management Ltd. now owns 1,355,464 shares of the company’s stock valued at $32,531,000 after buying an additional 156,509 shares during the last quarter. Credit Agricole S A purchased a new stake in shares of MDU Resources Group during the first quarter valued at approximately $181,000. Finally, State Street Corp raised 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 valued at $298,091,000 after buying an additional 1,348,586 shares during the last quarter. Institutional investors own 63.17% of the company’s stock.
MDU Resources Group Inc. (NYSE:MDU) traded up 0.89% on Wednesday, reaching $24.85. 803,841 shares of the company’s stock traded hands. MDU Resources Group Inc. has a 52-week low of $15.58 and a 52-week high of $25.79. The firm’s market capitalization is $4.85 billion. The firm’s 50 day moving average price is $24.36 and its 200 day moving average price is $22.73.
MDU Resources Group (NYSE:MDU) last issued its earnings results on Wednesday, August 3rd. The company reported $0.24 earnings per share for the quarter, beating the 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 business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the previous year, the business earned $0.15 EPS. The firm’s revenue was up 11.3% on a year-over-year basis. On average, analysts predict 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. Stockholders of record on Thursday, September 8th were given a dividend of $0.1875 per share. The ex-dividend date of this dividend was Tuesday, September 6th. This represents a $0.75 annualized dividend and a dividend yield of 3.02%. MDU Resources Group’s dividend payout ratio (DPR) is currently -85.23%.
Several equities research analysts have commented on MDU shares. Zacks Investment Research lowered shares of MDU Resources Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 19th. Williams Capital reiterated a “buy” rating on shares of MDU Resources Group in a research note on Friday, August 12th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $21.90.
In other news, Director Thomas S. Everist sold 30,000 shares of MDU Resources Group stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $23.32, for a total transaction of $699,600.00. Following the sale, the director now directly owns 79,572 shares in the company, valued at approximately $1,855,619.04. The sale was disclosed in a document filed with the SEC, which is available 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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