Smith Salley & Associates boosted its position in MDU Resources Group Inc. (NYSE:MDU) by 20.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 100,296 shares of the company’s stock after buying an additional 16,711 shares during the period. Smith Salley & Associates’ holdings in MDU Resources Group were worth $2,407,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. Confluence Investment Management LLC increased its stake in MDU Resources Group by 2.5% in the second quarter. Confluence Investment Management LLC now owns 470,432 shares of the company’s stock worth $11,290,000 after buying an additional 11,640 shares in the last quarter. Bank of Montreal Can purchased a new stake in MDU Resources Group during the second quarter worth approximately $3,906,000. New York State Teachers Retirement System increased its stake in MDU Resources Group by 2.0% in the second quarter. New York State Teachers Retirement System now owns 350,925 shares of the company’s stock worth $8,422,000 after buying an additional 6,800 shares in the last quarter. Oakbrook Investments LLC purchased a new stake in MDU Resources Group during the second quarter worth approximately $253,000. Finally, Hermes Investment Management Ltd. increased its stake 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 worth $32,531,000 after buying an additional 156,509 shares in the last quarter. 63.56% of the stock is currently owned by institutional investors.
Shares of MDU Resources Group Inc. (NYSE:MDU) traded down 0.44% during trading on Monday, hitting $24.76. The company had a trading volume of 288,161 shares. MDU Resources Group Inc. has a 12-month low of $15.58 and a 12-month high of $25.79. The firm has a 50 day moving average of $24.47 and a 200 day moving average of $22.81. The stock’s market cap is $4.84 billion.
MDU Resources Group (NYSE:MDU) last posted its quarterly 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. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.07 billion. MDU Resources Group had a positive return on equity of 8.39% and a negative net margin of 3.99%. The firm’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.15 EPS. On average, analysts forecast that MDU Resources Group Inc. will post $1.13 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Saturday, October 1st. Stockholders of record on Thursday, September 8th were paid a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date was Tuesday, September 6th. MDU Resources Group’s dividend payout ratio (DPR) is currently -85.23%.
A number of analysts have recently commented on the company. Zacks Investment Research raised MDU Resources Group from a “hold” rating to a “buy” rating and set a $28.00 price objective on the stock in a research note on Wednesday, October 12th. Williams Capital reissued a “buy” rating on shares of MDU Resources Group in a research note on Friday, August 12th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. MDU Resources Group has an average rating of “Buy” and an average price target of $22.70.
In other news, Director Thomas S. Everist sold 30,000 shares of the stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $23.44, for a total value of $703,200.00. Following the transaction, the director now owns 79,572 shares of the company’s stock, valued at approximately $1,865,167.68. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.10% of the stock is owned by 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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