Neuberger Berman Group LLC Sells 37,886 Shares of MDU Resources Group, Inc. (MDU)

Neuberger Berman Group LLC decreased its position in MDU Resources Group, Inc. (NYSE:MDU) by 36.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 66,151 shares of the utilities provider’s stock after selling 37,886 shares during the quarter. Neuberger Berman Group LLC’s holdings in MDU Resources Group were worth $1,733,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Comerica Bank raised its stake in shares of MDU Resources Group by 0.7% in the second quarter. Comerica Bank now owns 154,838 shares of the utilities provider’s stock worth $3,968,000 after buying an additional 1,032 shares during the period. Arizona State Retirement System raised its stake in shares of MDU Resources Group by 1.4% in the second quarter. Arizona State Retirement System now owns 82,300 shares of the utilities provider’s stock worth $2,156,000 after buying an additional 1,100 shares during the period. American International Group Inc. raised its stake in shares of MDU Resources Group by 3.6% in the first quarter. American International Group Inc. now owns 390,430 shares of the utilities provider’s stock worth $10,686,000 after buying an additional 13,533 shares during the period. Burney Co. raised its stake in shares of MDU Resources Group by 598.0% in the first quarter. Burney Co. now owns 79,685 shares of the utilities provider’s stock worth $2,181,000 after buying an additional 68,268 shares during the period. Finally, Teacher Retirement System of Texas raised its stake in shares of MDU Resources Group by 1.4% in the second quarter. Teacher Retirement System of Texas now owns 14,873 shares of the utilities provider’s stock worth $390,000 after buying an additional 202 shares during the period. 63.60% of the stock is currently owned by institutional investors.

TRADEMARK VIOLATION NOTICE: “Neuberger Berman Group LLC Sells 37,886 Shares of MDU Resources Group, Inc. (MDU)” was first reported by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are accessing this news story on another site, it was illegally stolen and reposted in violation of US and international trademark and copyright laws. The original version of this news story can be viewed at https://www.chaffeybreeze.com/2017/09/17/neuberger-berman-group-llc-sells-37886-shares-of-mdu-resources-group-inc-mdu.html.

Several research analysts have recently commented on the company. KeyCorp reaffirmed a “buy” rating and issued a $28.00 price objective on shares of MDU Resources Group in a research note on Friday, September 1st. BidaskClub raised MDU Resources Group from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, Zacks Investment Research downgraded MDU Resources Group from a “hold” rating to a “strong sell” rating in a research note on Friday, July 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $31.25.

In other MDU Resources Group news, CEO David L. Goodin purchased 5,000 shares of MDU Resources Group stock in a transaction that occurred on Friday, August 11th. The stock was bought at an average price 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 approximately $2,434,519.70. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.95% of the company’s stock.

Shares of MDU Resources Group, Inc. (MDU) opened at 27.02 on Friday. The company’s 50 day moving average price is $26.47 and its 200 day moving average price is $26.66. MDU Resources Group, Inc. has a 52-week low of $23.89 and a 52-week high of $29.92. The stock has a market cap of $5.28 billion, a PE ratio of 23.50 and a beta of 0.92.

MDU Resources Group (NYSE:MDU) last released its quarterly earnings results on Tuesday, August 1st. The utilities provider reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.03). The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.10 billion. MDU Resources Group had a return on equity of 10.24% and a net margin of 5.37%. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.24 EPS. On average, analysts anticipate that MDU Resources Group, Inc. will post $1.21 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Thursday, September 14th will be issued a $0.1925 dividend. The ex-dividend date is Wednesday, September 13th. This represents a $0.77 dividend on an annualized basis and a yield of 2.85%. MDU Resources Group’s payout ratio is 66.96%.

About MDU Resources Group

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.

Institutional Ownership by Quarter for MDU Resources Group (NYSE:MDU)

Receive News & Ratings for MDU Resources Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MDU Resources Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply