Principal Financial Group Inc. Has $17.04 Million Stock Holdings in MDU Resources Group, Inc. (NYSE:MDU)

Principal Financial Group Inc. reduced its position in MDU Resources Group, Inc. (NYSE:MDU - Free Report) by 11.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 678,898 shares of the utilities provider's stock after selling 87,747 shares during the quarter. Principal Financial Group Inc. owned approximately 0.33% of MDU Resources Group worth $17,040,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Innealta Capital LLC bought a new position in MDU Resources Group in the second quarter worth about $238,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of MDU Resources Group by 15.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 49,808 shares of the utilities provider's stock worth $1,250,000 after purchasing an additional 6,587 shares during the period. SummerHaven Investment Management LLC lifted its holdings in shares of MDU Resources Group by 1.8% in the 2nd quarter. SummerHaven Investment Management LLC now owns 34,869 shares of the utilities provider's stock worth $875,000 after purchasing an additional 606 shares during the last quarter. Hennessy Advisors Inc. boosted its position in MDU Resources Group by 5.2% during the 2nd quarter. Hennessy Advisors Inc. now owns 186,807 shares of the utilities provider's stock valued at $4,689,000 after purchasing an additional 9,200 shares during the period. Finally, Neo Ivy Capital Management acquired a new position in MDU Resources Group during the 2nd quarter valued at approximately $647,000. Institutional investors and hedge funds own 71.44% of the company's stock.

MDU Resources Group Price Performance

NYSE:MDU traded down $0.12 during midday trading on Thursday, hitting $24.94. 788,520 shares of the stock were exchanged, compared to its average volume of 1,173,318. The company has a market capitalization of $5.08 billion, a price-to-earnings ratio of 10.66, a P/E/G ratio of 2.76 and a beta of 0.77. 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, Inc. has a one year low of $18.04 and a one year high of $27.30. The business has a 50-day moving average price of $25.38 and a two-hundred day moving average price of $24.55.

MDU Resources Group (NYSE:MDU - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The utilities provider reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.11. The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.06 billion. MDU Resources Group had a return on equity of 11.29% and a net margin of 9.25%. The company's revenue was down 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.29 earnings per share. Sell-side analysts predict that MDU Resources Group, Inc. will post 1.55 EPS for the current year.

MDU Resources Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Thursday, September 12th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.52 annualized dividend and a dividend yield of 2.09%. This is a boost from MDU Resources Group's previous quarterly dividend of $0.13. MDU Resources Group's payout ratio is currently 22.22%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Argus raised MDU Resources Group from a "hold" rating to a "buy" rating and set a $30.00 price target on the stock in a report 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.

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.