Allspring Global Investments Holdings LLC Sells 146,270 Shares of MDU Resources Group, Inc. (NYSE:MDU)

Allspring Global Investments Holdings LLC decreased its position in shares of MDU Resources Group, Inc. (NYSE:MDU - Free Report) by 7.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,748,556 shares of the utilities provider's stock after selling 146,270 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.86% of MDU Resources Group worth $43,889,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. TFO Wealth Partners LLC raised its holdings in MDU Resources Group by 16,070.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,617 shares of the utilities provider's stock valued at $32,000 after buying an additional 1,607 shares during the period. Tompkins Financial Corp raised its stake in shares of MDU Resources Group by 22.2% in the 1st quarter. Tompkins Financial Corp now owns 4,404 shares of the utilities provider's stock valued at $111,000 after acquiring an additional 800 shares during the period. Mendota Financial Group LLC lifted its holdings in shares of MDU Resources Group by 32.9% in the 1st quarter. Mendota Financial Group LLC now owns 5,920 shares of the utilities provider's stock worth $149,000 after acquiring an additional 1,465 shares during the last quarter. Jones Financial Companies Lllp boosted its position in shares of MDU Resources Group by 129.3% during the 4th quarter. Jones Financial Companies Lllp now owns 8,977 shares of the utilities provider's stock worth $178,000 after purchasing an additional 5,062 shares during the period. Finally, IVC Wealth Advisors LLC purchased a new position in shares of MDU Resources Group during the 1st quarter worth approximately $202,000. 71.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

MDU Resources Group Stock Down 0.7 %

MDU stock traded down $0.17 during mid-day trading on Tuesday, reaching $25.07. The company had a trading volume of 682,232 shares, compared to its average volume of 1,180,949. The firm has a fifty day simple moving average of $25.38 and a 200 day simple moving average of $24.35. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.37 and a current ratio of 1.43. The company has a market capitalization of $5.11 billion, a price-to-earnings ratio of 10.71, a price-to-earnings-growth ratio of 2.86 and a beta of 0.77. MDU Resources Group, Inc. has a fifty-two week low of $18.04 and a fifty-two week high of $27.30.

MDU Resources Group (NYSE:MDU - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The utilities provider reported $0.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.21 by $0.11. MDU Resources Group had a net margin of 10.74% and a return on equity of 11.42%. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the previous year, the firm earned $0.29 earnings per share. The firm's quarterly revenue was down 4.0% on a year-over-year basis. Analysts forecast that MDU Resources Group, Inc. will post 1.55 earnings per share for the current fiscal year.

MDU Resources Group Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Thursday, September 12th will be paid a dividend of $0.13 per share. This is a boost from MDU Resources Group's previous quarterly dividend of $0.13. The ex-dividend date is Thursday, September 12th. This represents a $0.52 annualized dividend and a yield of 2.07%. MDU Resources Group's payout ratio is presently 22.22%.

About MDU Resources Group

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.