MDU Resources Group Inc (MDU) Stake Increased by Global X Management Co LLC

Global X Management Co LLC grew its holdings in MDU Resources Group Inc (NYSE:MDU) by 17.9% in the second quarter, HoldingsChannel reports. The institutional investor 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 institutional investors have also bought and sold shares of the company. Verition Fund Management LLC purchased a new stake in shares of MDU Resources Group in the second quarter valued at approximately $557,000. California Public Employees Retirement System increased its position in shares of MDU Resources Group by 8.3% in the second quarter. California Public Employees Retirement System now owns 572,860 shares of the utilities provider’s stock valued at $16,430,000 after buying an additional 44,023 shares in the last quarter. Bruderman Asset Management LLC increased its position in shares of MDU Resources Group by 374.0% in the second quarter. Bruderman Asset Management LLC now owns 5,332 shares of the utilities provider’s stock valued at $153,000 after buying an additional 4,207 shares in the last quarter. Millennium Management LLC increased its position in shares of MDU Resources Group by 20.3% in the second quarter. Millennium Management LLC now owns 922,493 shares of the utilities provider’s stock valued at $26,457,000 after buying an additional 155,959 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI purchased a new stake in shares of MDU Resources Group in the second quarter valued at approximately $1,898,000. Institutional investors and hedge funds own 63.97% of the company’s stock.

Shares of MDU opened at $25.88 on Tuesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.39 and a quick ratio of 1.05. MDU Resources Group Inc has a one year low of $24.29 and a one year high of $29.62. The company has a market cap of $5.15 billion, a P/E ratio of 20.38, a PEG ratio of 2.92 and a beta of 0.59.

MDU Resources Group (NYSE:MDU) last issued its quarterly earnings results on Tuesday, July 31st. The utilities provider reported $0.22 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.06). MDU Resources Group had a return on equity of 10.40% and a net margin of 6.45%. The firm had revenue of $1.06 billion for the quarter. equities analysts predict that MDU Resources Group Inc will post 1.38 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Thursday, September 13th will be given a dividend of $0.1975 per share. This represents a $0.79 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend is Wednesday, September 12th. MDU Resources Group’s payout ratio is 63.20%.

Several brokerages recently commented on MDU. Citigroup boosted their price target on MDU Resources Group from $28.00 to $29.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 31st. KeyCorp boosted their price target on MDU Resources Group from $29.00 to $30.00 and gave the stock a “$29.34” rating in a research report on Thursday, July 19th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price 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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Institutional Ownership by Quarter for MDU Resources Group (NYSE:MDU)

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