2,267,330 Shares in MDU Resources Group, Inc. (NYSE:MDU) Acquired by Norges Bank

Norges Bank bought a new position in MDU Resources Group, Inc. (NYSE:MDU - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 2,267,330 shares of the utilities provider's stock, valued at approximately $40,857,000. Norges Bank owned approximately 1.11% of MDU Resources Group at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of MDU Resources Group by 1.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 482,839 shares of the utilities provider's stock valued at $13,235,000 after acquiring an additional 8,281 shares during the period. Walleye Capital LLC bought a new stake in shares of MDU Resources Group during the 3rd quarter valued at about $764,000. Verition Fund Management LLC bought a new stake in shares of MDU Resources Group during the 3rd quarter valued at about $1,302,000. HighTower Advisors LLC boosted its stake in shares of MDU Resources Group by 2.0% during 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. Finally, Quantinno Capital Management LP boosted its stake in shares of MDU Resources Group by 12.3% during the 3rd quarter. Quantinno Capital Management LP now owns 54,049 shares of the utilities provider's stock valued at $1,482,000 after purchasing an additional 5,911 shares in the last quarter. 71.44% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

MDU has been the topic of several research reports. Jefferies Financial Group initiated 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 on the stock. StockNews.com cut shares of MDU Resources Group from a "hold" rating to a "sell" rating in a report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $21.00.

MDU Resources Group Stock Down 1.0 %

MDU Resources Group stock traded down $0.17 during midday trading on Thursday, hitting $16.11. 215,950 shares of the company's stock were exchanged, compared to its average volume of 2,515,428. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.07 and a current ratio of 1.15. MDU Resources Group, Inc. has a 12 month low of $12.99 and a 12 month high of $20.39. The firm has a 50-day moving average of $16.77 and a two-hundred day moving average of $19.75. The company has a market cap of $3.29 billion, a PE ratio of 11.67, a P/E/G ratio of 2.76 and a beta of 0.68.

MDU Resources Group (NYSE:MDU - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The utilities provider reported $0.34 earnings per share for the quarter, beating 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%. As a group, analysts expect that MDU Resources Group, Inc. will post 0.94 earnings per share for the current fiscal year.

MDU Resources Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Thursday, March 13th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend was Thursday, March 13th. MDU Resources Group's dividend payout ratio is currently 37.68%.

Insider Activity

In other news, Director Dennis W. Johnson purchased 30,000 shares of the stock in a transaction dated Monday, February 10th. The shares were acquired at an average cost of $16.64 per share, for a total transaction of $499,200.00. Following the acquisition, the director now owns 180,166 shares of the company's stock, valued at approximately $2,997,962.24. This represents a 19.98 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.00% of the company's stock.

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.