Algert Global LLC Grows Stake in MDU Resources Group, Inc. (NYSE:MDU)

Algert Global LLC raised its holdings in shares of MDU Resources Group, Inc. (NYSE:MDU - Free Report) by 453.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 282,573 shares of the utilities provider's stock after purchasing an additional 231,530 shares during the period. Algert Global LLC owned 0.14% of MDU Resources Group worth $7,745,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in MDU Resources Group by 8.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,491,990 shares of the utilities provider's stock valued at $188,049,000 after buying an additional 563,424 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of MDU Resources Group by 40.9% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,048,344 shares of the utilities provider's stock worth $151,813,000 after purchasing an additional 1,756,530 shares during the last quarter. American Century Companies Inc. boosted its stake in MDU Resources Group by 30.7% in the 2nd quarter. American Century Companies Inc. now owns 4,158,224 shares of the utilities provider's stock worth $104,371,000 after purchasing an additional 977,487 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in MDU Resources Group by 5.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,082,468 shares of the utilities provider's stock valued at $57,080,000 after purchasing an additional 101,955 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in MDU Resources Group by 1.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,782,538 shares of the utilities provider's stock worth $48,859,000 after buying an additional 33,982 shares during the last quarter. Hedge funds and other institutional investors own 71.44% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on MDU shares. Bank of America raised MDU Resources Group from a "neutral" rating to a "buy" rating and lowered their price objective for the company from $31.00 to $17.00 in a research report on Tuesday, November 5th. Siebert Williams Shank raised shares of MDU Resources Group from a "hold" rating to a "buy" rating and set a $19.00 price target on the stock in a report on Monday, November 4th. Finally, StockNews.com began coverage on shares of MDU Resources Group in a report on Tuesday, November 5th. They set a "hold" rating for the company.

MDU Resources Group Stock Performance

MDU stock traded up $0.66 during trading on Friday, reaching $19.94. The stock had a trading volume of 2,413,203 shares, compared to its average volume of 3,069,538. The firm has a market cap of $4.07 billion, a PE ratio of 10.23, a PEG ratio of 2.49 and a beta of 0.76. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.73. The stock's 50 day moving average is $24.81 and its two-hundred day moving average is $25.11. MDU Resources Group, Inc. has a 52 week low of $14.91 and a 52 week high of $30.52.

MDU Resources Group (NYSE:MDU - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.31 by $0.01. MDU Resources Group had a net margin of 8.92% and a return on equity of 11.24%. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $969.17 million. During the same quarter last year, the firm posted $0.29 earnings per share. The firm's revenue was up 5.0% compared to the same quarter last year. As a group, equities analysts anticipate that MDU Resources Group, Inc. will post 1.13 earnings per share for the current year.

MDU Resources Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Thursday, December 12th will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.61%. The ex-dividend date is Thursday, December 12th. MDU Resources Group's dividend payout ratio is currently 26.67%.

MDU Resources Group Profile

MDU Resources Group, Inc engages in the regulated energy delivery, and construction materials and services businesses in the United States. It operates through four segments: Electric, Natural Gas Distribution, Pipeline, and Construction Services. The Electric segment generates, transmits, and distributes electricity for residential, commercial, industrial, and municipal customers in Montana, North Dakota, South Dakota, and Wyoming; and operates 3,400 miles of transmission lines, 4,800 miles of distribution lines, and 82 transmission and 298 distribution substations.