The State of New Jersey Common Pension Fund D reduced its holdings in MDU Resources Group, Inc. (NYSE:MDU – Get Rating) stock by 7.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission emerges. The company owned 105,142 shares of the utility after selling 8,788 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.05% of MDU Resources Group worth $2,876,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. The Texas Permanent School Fund increased its stake in MDU Resources Group by 2.0% during the second quarter. The Texas Permanent School Fund now owns 146,978 shares of the utility worth $3,967,000 after purchasing an additional 2,812 shares during the period. Point72 Hong Kong Ltd increased its stake in MDU Resources Group by 19.4% in the second quarter. Point72 Hong Kong Ltd now owns 16,948 shares of the utility company, valued at $457,000, after purchasing an additional 2,751 shares last quarter. Sawtooth Solutions LLC increased its stake in MDU Resources Group by 20.6% during the third quarter. Sawtooth Solutions LLC now owns 61,469 shares of the utility company’s stock valued at $1,681,000 after purchasing an additional 10,518 shares last quarter. The Bank of New Hampshire increased its stake in MDU Resources Group by 27.0% in the second quarter. The Bank of New Hampshire now owns 4,205 shares of the utility company, valued at $113,000, after purchasing an additional 895 shares last quarter. Finally, River Road Asset Management LLC acquired a new interest in MDU Resources Group during the second quarter for approximately $49,995,000. Institutional investors own 70.83% of the company’s shares.
Price development of the MDU Resources Group
MDU Resources Group shares opened at $30.91 on Friday. The stock has a market cap of $6.29 billion, a price-to-earnings ratio of 18.62, a price-to-earnings-to-growth ratio of 2.56 and a beta of 0.74. The company has a debt to equity ratio of 0.79, a quick ratio of 1.11 and a current ratio of 1.38. The stock has a 50-day moving average price of $30.45 and a 200-day moving average price of $29.36. MDU Resources Group, Inc. has a yearly low of $24.92 and a yearly high of $32.19.
MDU Resources Group (NYSE:MDU – Get Rating) last announced earnings results on Thursday, November 3rd. The utility reported earnings per share of $0.75 for the quarter, beating analyst consensus estimates of $0.69 by $0.06. The company had revenue of $1.98 billion for the quarter. MDU Resources Group had a return on equity of 10.01% and a net margin of 5.14%. Equity analysts expect MDU Resources Group, Inc. to post 1.81 EPS for the year to date.
MDU Resources Group increases dividend
The company also recently announced a quarterly dividend, which was paid on Sunday, January 1st. Shareholders of record were paid a dividend of $0.2225 on Thursday, December 8th. This is an increase from MDU Resources Group’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Wednesday December 7th. That equates to a dividend of $0.89 on an annualized basis and a dividend yield of 2.88%. The payout ratio of the MDU Resources Group is 53.61%.
Analyst upgrades and downgrades
A number of analysts have issued reports on the company. Bank of America downgraded MDU Resources Group from a “neutral” rating to an “underperform” rating in a research note on Monday, October 24. StockNews.com assumed coverage of MDU Resources Group in a Research Note on Wednesday, October 12th. They gave the stock a “hold” rating.
About the MDU Resources Group
MDU Resources Group, Inc operates in the United States in the regulated energy supply and construction materials and services sectors. The Company’s Electrical segment generates, transmits and distributes power for residential, commercial, industrial and municipal customers in Montana, North Dakota, South Dakota and Wyoming and operates 3,500 miles of transmission lines and 4,800 miles of distribution lines.
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