Bank of Montreal Can bought a new position in shares of MDU Resources Group Inc (NYSE:MDU) during the second quarter, Holdings Channel reports. The firm bought 162,762 shares of the company’s stock, valued at approximately $3,906,000.
Other institutional investors also recently made changes to their positions in the company. State Street Corp raised its position 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 valued at $298,091,000 after buying an additional 1,348,586 shares during the period. BlackRock Fund Advisors raised its position 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 valued at $124,440,000 after buying an additional 21,622 shares during the period. BlackRock Institutional Trust Company N.A. raised its position 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 valued at $112,807,000 after buying an additional 134,466 shares during the period. Goldman Sachs Group Inc. raised its position in 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 period. Finally, Hermes Investment Management Ltd. raised its position in 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 period. Hedge funds and other institutional investors own 63.17% of the company’s stock.
MDU Resources Group Inc (NYSE:MDU) traded down 0.48% during mid-day trading on Friday, reaching $24.87. 668,708 shares of the company’s stock were exchanged. The stock’s market cap is $4.86 billion. MDU Resources Group Inc has a 52 week low of $15.58 and a 52 week high of $25.79. The stock has a 50-day moving average price of $24.47 and a 200-day moving average price of $22.81.
MDU Resources Group (NYSE:MDU) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.03. MDU Resources Group had a positive return on equity of 8.39% and a negative net margin of 3.99%. The business earned $1.04 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the previous year, the business posted $0.15 earnings per share. The firm’s revenue for the quarter was up 11.3% compared to the same quarter last year. On average, analysts forecast that MDU Resources Group Inc will post $1.13 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Saturday, October 1st. Investors of record on Thursday, September 8th were issued a $0.1875 dividend. The ex-dividend date was Tuesday, September 6th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 3.02%. MDU Resources Group’s dividend payout ratio is -85.23%.
Several equities analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of MDU Resources Group from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research report on Wednesday. Williams Capital restated a “buy” rating on shares of MDU Resources Group in a research report on Friday, August 12th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $22.70.
In related news, Director Thomas S. Everist sold 30,000 shares of MDU Resources Group stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $23.44, for a total value of $703,200.00. Following the completion of the transaction, the director now directly owns 79,572 shares of the company’s stock, valued at $1,865,167.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.10% of the stock is owned by corporate insiders.
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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