M&T Bank Corp lessened its stake in shares of MDU Resources Group, Inc. (NYSE:MDU) by 0.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 377,300 shares of the utilities provider’s stock after selling 828 shares during the period. M&T Bank Corp owned approximately 0.19% of MDU Resources Group worth $9,885,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. AT Bancorp purchased a new stake in MDU Resources Group during the 2nd quarter valued at $131,000. Global X Management Co. LLC raised its holdings in MDU Resources Group by 220.3% during the 2nd quarter. Global X Management Co. LLC now owns 6,198 shares of the utilities provider’s stock valued at $162,000 after buying an additional 4,263 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in MDU Resources Group by 8.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,671 shares of the utilities provider’s stock valued at $175,000 after buying an additional 537 shares during the period. Mosaic Family Wealth LLC raised its holdings in MDU Resources Group by 5.7% during the 2nd quarter. Mosaic Family Wealth LLC now owns 6,972 shares of the utilities provider’s stock valued at $183,000 after buying an additional 374 shares during the period. Finally, Ffcm LLC raised its holdings in MDU Resources Group by 5.7% during the 2nd quarter. Ffcm LLC now owns 7,360 shares of the utilities provider’s stock valued at $193,000 after buying an additional 396 shares during the period. Institutional investors own 63.55% of the company’s stock.
Several brokerages have commented on MDU. Zacks Investment Research raised MDU Resources Group from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. BidaskClub raised MDU Resources Group from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Finally, KeyCorp reissued a “buy” rating and set a $28.00 price target on shares of MDU Resources Group in a research report on Friday, September 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $31.25.
In other news, CEO David L. Goodin bought 5,000 shares of MDU Resources Group stock in a transaction dated Friday, August 11th. The stock was acquired at an average cost of $25.57 per share, with a total value of $127,850.00. Following the acquisition, the chief executive officer now owns 95,210 shares of the company’s stock, valued at $2,434,519.70. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 0.95% of the stock is currently owned by insiders.
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Shares of MDU Resources Group, Inc. (NYSE:MDU) traded down 0.38% during midday trading on Friday, reaching $26.11. The company had a trading volume of 80,387 shares. MDU Resources Group, Inc. has a 52 week low of $24.30 and a 52 week high of $29.92. The company’s 50 day moving average price is $26.49 and its 200-day moving average price is $26.64. The company has a market capitalization of $5.10 billion, a P/E ratio of 22.70 and a beta of 0.92.
MDU Resources Group (NYSE:MDU) last posted its earnings results on Tuesday, August 1st. The utilities provider reported $0.22 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.03). MDU Resources Group had a net margin of 5.37% and a return on equity of 10.24%. The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the previous year, the firm posted $0.24 earnings per share. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, equities research analysts predict that MDU Resources Group, Inc. will post $1.21 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Thursday, September 14th will be issued a $0.1925 dividend. This represents a $0.77 annualized dividend and a dividend yield of 2.92%. The ex-dividend date is Wednesday, September 13th. MDU Resources Group’s payout ratio is currently 66.96%.
MDU Resources Group Profile
MDU Resources Group, Inc is engaged in regulated energy delivery and construction materials and services business. The Company’s businesses segments are electric, natural gas distribution, pipeline and midstream, construction materials and contracting, and construction services. The electric segment generates, transmits and distributes electricity.
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