MDU Resources Group, Inc. (NYSE:MDU) Sees Large Growth in Short Interest

MDU Resources Group, Inc. (NYSE:MDU - Get Free Report) was the recipient of a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 3,070,000 shares, a growth of 19.9% from the August 15th total of 2,560,000 shares. Approximately 1.6% of the shares of the company are sold short. Based on an average daily volume of 1,050,000 shares, the short-interest ratio is currently 2.9 days.

Institutional Investors Weigh In On MDU Resources Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Cetera Investment Advisers raised its position in shares of MDU Resources Group by 47.4% during the second quarter. Cetera Investment Advisers now owns 50,114 shares of the utilities provider's stock valued at $1,258,000 after buying an additional 16,125 shares during the last quarter. Truist Financial Corp bought a new stake in shares of MDU Resources Group during the second quarter valued at approximately $218,000. Northwestern Mutual Wealth Management Co. raised its position in shares of MDU Resources Group by 23.9% during 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 during the last quarter. NewEdge Advisors LLC raised its position in shares of MDU Resources Group by 2.7% during the second quarter. NewEdge Advisors LLC now owns 67,900 shares of the utilities provider's stock valued at $1,704,000 after buying an additional 1,761 shares during the last quarter. Finally, Algert Global LLC bought a new stake in shares of MDU Resources Group during the second quarter valued at approximately $1,281,000. Institutional investors own 71.44% of the company's stock.

MDU Resources Group Stock Performance

NYSE MDU traded up $1.83 on Friday, reaching $27.41. 2,764,173 shares of the stock were exchanged, compared to its average volume of 1,170,662. MDU Resources Group has a one year low of $18.04 and a one year high of $27.75. The firm has a market capitalization of $5.59 billion, a PE ratio of 11.71, a PEG ratio of 2.70 and a beta of 0.77. The company's 50-day simple moving average is $25.45 and its two-hundred day simple moving average is $24.76. The company has a current ratio of 1.22, a quick ratio of 1.15 and a debt-to-equity ratio of 0.73.

MDU Resources Group (NYSE:MDU - Get Free Report) last released its earnings results on Thursday, August 8th. The utilities provider reported $0.32 EPS for the quarter, topping analysts' consensus estimates of $0.21 by $0.11. The company had revenue of $1.05 billion for the quarter, compared to analysts' expectations of $1.06 billion. MDU Resources Group had a net margin of 9.25% and a return on equity of 11.29%. The firm's revenue was down 4.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.29 EPS. Analysts expect that MDU Resources Group will post 1.55 EPS for the current fiscal year.

MDU Resources Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Thursday, September 12th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.52 annualized dividend and a dividend yield of 1.90%. This is a boost from MDU Resources Group's previous quarterly dividend of $0.13. MDU Resources Group's dividend payout ratio (DPR) is presently 21.37%.

Wall Street Analysts Forecast Growth

MDU has been the topic of several recent research reports. Argus upgraded shares of MDU Resources Group from a "hold" rating to a "buy" rating and set a $30.00 price objective on the stock in a research note on Monday, May 20th. StockNews.com cut shares of MDU Resources Group from a "buy" rating to a "hold" rating in a research note on Friday, July 26th.

MDU Resources Group Company 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.

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