Allspring Global Investments Holdings LLC Buys 331,481 Shares of MDU Resources Group, Inc. (NYSE:MDU)

Allspring Global Investments Holdings LLC increased its stake in shares of MDU Resources Group, Inc. (NYSE:MDU - Free Report) by 18.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,114,019 shares of the utilities provider's stock after buying an additional 331,481 shares during the period. Allspring Global Investments Holdings LLC owned about 1.04% of MDU Resources Group worth $37,926,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in MDU. Truist Financial Corp purchased a new stake in MDU Resources Group during the second quarter worth about $218,000. Inspire Investing LLC increased its stake in shares of MDU Resources Group by 7.4% in the third quarter. Inspire Investing LLC now owns 15,019 shares of the utilities provider's stock worth $412,000 after purchasing an additional 1,033 shares in the last quarter. Bleakley Financial Group LLC increased its stake in shares of MDU Resources Group by 0.5% in the third quarter. Bleakley Financial Group LLC now owns 169,263 shares of the utilities provider's stock worth $4,640,000 after purchasing an additional 868 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in shares of MDU Resources Group in the third quarter worth about $25,000. Finally, Precedent Wealth Partners LLC purchased a new position in shares of MDU Resources Group in the third quarter worth about $389,000. Hedge funds and other institutional investors own 71.44% of the company's stock.

Insider Activity at MDU Resources Group

In other news, Director Dennis W. Johnson purchased 30,000 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was bought at an average cost of $16.64 per share, for a total transaction of $499,200.00. Following the acquisition, the director now directly owns 180,166 shares of the company's stock, valued at $2,997,962.24. This represents a 19.98 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.00% of the stock is currently owned by company insiders.

MDU Resources Group Trading Up 0.7 %

Shares of MDU traded up $0.12 during mid-day trading on Tuesday, reaching $16.89. The company's stock had a trading volume of 537,850 shares, compared to its average volume of 2,017,769. The stock has a market cap of $3.44 billion, a PE ratio of 12.23, a P/E/G ratio of 2.61 and a beta of 0.80. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.73. MDU Resources Group, Inc. has a 52 week low of $14.91 and a 52 week high of $30.52. The company's fifty day moving average price is $17.92 and its two-hundred day moving average price is $22.05.

MDU Resources Group (NYSE:MDU - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The utilities provider reported $0.34 earnings per share for the quarter, topping analysts' consensus estimates of $0.31 by $0.03. MDU Resources Group had a net margin of 7.31% and a return on equity of 10.20%. On average, analysts predict that MDU Resources Group, Inc. will post 0.95 earnings per share for the current fiscal year.

MDU Resources Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Thursday, March 13th will be issued a $0.13 dividend. The ex-dividend date is Thursday, March 13th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.08%. MDU Resources Group's payout ratio is 37.68%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of MDU Resources Group in a research note on Wednesday, January 8th. They issued a "hold" rating and a $18.00 target price for the company. Siebert Williams Shank raised shares of MDU Resources Group from a "hold" rating to a "buy" rating and set a $19.00 price target for the company in a research note on Monday, November 4th. StockNews.com cut shares of MDU Resources Group from a "hold" rating to a "sell" rating in a research note on Friday, February 7th. Finally, Bank of America raised shares of MDU Resources Group from a "neutral" rating to a "buy" rating and cut their price target for the stock from $31.00 to $17.00 in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $21.00.

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.