UBS Asset Management Americas Inc. cut its position in MDU Resources Group Inc. (NYSE:MDU) by 0.7% during the second quarter, Holdings Channel reports. The institutional investor owned 191,524 shares of the company’s stock after selling 1,400 shares during the period. UBS Asset Management Americas Inc. owned 0.10% of MDU Resources Group worth $4,596,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of the company. Norges Bank acquired a new stake in MDU Resources Group during the fourth quarter worth approximately $33,673,000. Nisa Investment Advisors L.L.C. increased its stake in MDU Resources Group by 1.9% in the first quarter. Nisa Investment Advisors L.L.C. now owns 96,440 shares of the company’s stock worth $1,877,000 after buying an additional 1,800 shares during the last quarter. IFP Advisors Inc increased its stake in MDU Resources Group by 3.3% in the first quarter. IFP Advisors Inc now owns 10,013 shares of the company’s stock worth $195,000 after buying an additional 316 shares during the last quarter. Teachers Advisors Inc. increased its stake in MDU Resources Group by 14.3% in the first quarter. Teachers Advisors Inc. now owns 178,360 shares of the company’s stock worth $3,471,000 after buying an additional 22,347 shares during the last quarter. Finally, 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. 63.16% of the stock is owned by institutional investors.
MDU Resources Group Inc. (NYSE:MDU) traded down 0.0654% on Friday, reaching $25.3834. 347,447 shares of the company’s stock traded hands. The firm’s market cap is $4.96 billion. MDU Resources Group Inc. has a 52-week low of $15.58 and a 52-week high of $25.79. The stock’s 50 day moving average is $23.99 and its 200 day moving average is $22.35.
MDU Resources Group (NYSE:MDU) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates 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 had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the prior year, the firm earned $0.15 EPS. The company’s revenue was up 11.3% on a year-over-year basis. On average, equities research analysts predict that MDU Resources Group Inc. will post $1.12 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, October 1st. Shareholders of record on Thursday, September 8th will be issued a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date is Tuesday, September 6th. MDU Resources Group’s dividend payout ratio is currently -85.23%.
A number of equities research analysts have recently issued reports on MDU shares. Zacks Investment Research lowered shares of MDU Resources Group from a “buy” rating to a “hold” rating in a report on Tuesday, July 19th. Williams Capital restated a “buy” rating on shares of MDU Resources Group in a report 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 given a buy rating to the company’s stock. The company presently has a consensus 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 stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $23.61, for a total transaction of $708,300.00. Following the sale, the director now owns 79,572 shares of the company’s stock, valued at approximately $1,878,694.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company 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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