Bleakley Financial Group LLC lessened its stake in MDU Resources Group, Inc. (NYSE:MDU - Free Report) by 34.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 111,436 shares of the utilities provider's stock after selling 57,827 shares during the period. Bleakley Financial Group LLC owned 0.05% of MDU Resources Group worth $2,008,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently made changes to their positions in MDU. Northwestern Mutual Wealth Management Co. increased its holdings in MDU Resources Group by 23.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,142 shares of the utilities provider's stock valued at $54,000 after buying an additional 413 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of MDU Resources Group by 19.4% in the 4th quarter. Blue Trust Inc. now owns 3,505 shares of the utilities provider's stock worth $63,000 after acquiring an additional 570 shares during the period. HighTower Advisors LLC increased its stake in MDU Resources Group by 2.0% in the 3rd quarter. HighTower Advisors LLC now owns 32,739 shares of the utilities provider's stock valued at $896,000 after purchasing an additional 641 shares in the last quarter. Venturi Wealth Management LLC raised its holdings in MDU Resources Group by 158.9% during the third quarter. Venturi Wealth Management LLC now owns 1,196 shares of the utilities provider's stock worth $33,000 after purchasing an additional 734 shares during the last quarter. Finally, Ingalls & Snyder LLC raised its holdings in MDU Resources Group by 2.2% during the third quarter. Ingalls & Snyder LLC now owns 39,335 shares of the utilities provider's stock worth $1,078,000 after purchasing an additional 850 shares during the last quarter. Hedge funds and other institutional investors own 71.44% of the company's stock.
Analysts Set New Price Targets
Several research firms have recently issued reports on MDU. StockNews.com downgraded MDU Resources Group from a "hold" rating to a "sell" rating in a research note on Friday. Bank of America upgraded shares of MDU Resources Group from a "neutral" rating to a "buy" rating and cut their target price for the stock from $31.00 to $17.00 in a research report on Tuesday, November 5th. Siebert Williams Shank upgraded 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 research report on Monday, November 4th. Finally, Jefferies Financial Group assumed coverage on shares of MDU Resources Group in a research note on Wednesday, January 8th. They set a "hold" rating and a $18.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, MDU Resources Group has a consensus rating of "Hold" and a consensus target price of $21.00.
View Our Latest Stock Analysis on MDU
MDU Resources Group Trading Up 3.1 %
Shares of MDU Resources Group stock traded up $0.52 during mid-day trading on Tuesday, hitting $16.98. 2,546,539 shares of the stock were exchanged, compared to its average volume of 2,136,153. The company has a 50-day simple moving average of $18.19 and a 200 day simple moving average of $22.41. 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 has a market capitalization of $3.46 billion, a price-to-earnings ratio of 12.30, a price-to-earnings-growth ratio of 2.61 and a beta of 0.80. MDU Resources Group, Inc. has a twelve month low of $14.91 and a twelve month high of $30.52.
MDU Resources Group (NYSE:MDU - Get Free Report) last released its earnings results on Thursday, February 6th. The utilities provider reported $0.34 EPS for the quarter, topping the consensus estimate of $0.31 by $0.03. MDU Resources Group had a net margin of 7.31% and a return on equity of 10.20%. Research analysts forecast that MDU Resources Group, Inc. will post 0.95 EPS for the current year.
MDU Resources Group Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 1st. Stockholders of record on Thursday, December 12th were issued a dividend of $0.13 per share. The ex-dividend date was Thursday, December 12th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.06%. MDU Resources Group's payout ratio is 37.68%.
Insiders Place Their Bets
In related news, Director Dennis W. Johnson purchased 30,000 shares of the business's stock in a transaction that occurred on Monday, February 10th. The shares were purchased at an average cost of $16.64 per share, with a total value of $499,200.00. Following the completion of the acquisition, the director now directly owns 180,166 shares of the company's stock, valued at approximately $2,997,962.24. The trade was a 19.98 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is currently owned by insiders.
MDU Resources Group Profile
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Free Report)
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.
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