Global X Management Co LLC lifted its stake in shares of MDU Resources Group Inc (NYSE:MDU) by 17.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 47,552 shares of the utilities provider’s stock after acquiring an additional 7,224 shares during the quarter. Global X Management Co LLC’s holdings in MDU Resources Group were worth $1,364,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the stock. Verition Fund Management LLC purchased a new stake in MDU Resources Group during the 2nd quarter valued at $557,000. California Public Employees Retirement System grew its position in MDU Resources Group by 8.3% in the 2nd quarter. California Public Employees Retirement System now owns 572,860 shares of the utilities provider’s stock valued at $16,430,000 after acquiring an additional 44,023 shares during the last quarter. Bruderman Asset Management LLC grew its position in MDU Resources Group by 374.0% in the 2nd quarter. Bruderman Asset Management LLC now owns 5,332 shares of the utilities provider’s stock valued at $153,000 after acquiring an additional 4,207 shares during the last quarter. Millennium Management LLC grew its position in MDU Resources Group by 20.3% in the 2nd quarter. Millennium Management LLC now owns 922,493 shares of the utilities provider’s stock valued at $26,457,000 after acquiring an additional 155,959 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI bought a new position in MDU Resources Group in the 2nd quarter valued at $1,898,000. Institutional investors own 64.01% of the company’s stock.
MDU opened at $26.19 on Wednesday. MDU Resources Group Inc has a 12-month low of $24.29 and a 12-month high of $29.62. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.05 and a current ratio of 1.39. The firm has a market cap of $5.04 billion, a PE ratio of 21.04, a PEG ratio of 2.86 and a beta of 0.58.
MDU Resources Group (NYSE:MDU) last issued its quarterly earnings data on Tuesday, July 31st. The utilities provider reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.06). The company had revenue of $1.06 billion for the quarter. MDU Resources Group had a return on equity of 10.40% and a net margin of 6.45%. On average, equities analysts expect that MDU Resources Group Inc will post 1.38 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 1st. Investors of record on Thursday, September 13th were paid a dividend of $0.1975 per share. This represents a $0.79 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date was Wednesday, September 12th. MDU Resources Group’s dividend payout ratio (DPR) is currently 63.20%.
Several equities analysts have commented on the company. KeyCorp upped their price objective on MDU Resources Group from $29.00 to $30.00 and gave the company a “$29.34” rating in a research report on Thursday, July 19th. Citigroup upped their price objective on MDU Resources Group from $28.00 to $29.00 and gave the company a “neutral” rating in a research report on Tuesday, July 31st. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $29.25.
MDU Resources Group Company Profile
MDU Resources Group, Inc engages in regulated energy delivery, and construction materials and services businesses in the United States. The company operates through five segments: Electric, Natural Gas Distribution, Pipeline and Midstream, Construction Materials and Contracting, and Construction Services.
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