MDU Resources Group, Inc. (NYSE:MDU) Stake Reduced by Rhumbline Advisers

Rhumbline Advisers trimmed its holdings in shares of MDU Resources Group, Inc. (NYSE:MDU - Free Report) by 3.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 556,297 shares of the utilities provider's stock after selling 22,421 shares during the period. Rhumbline Advisers owned 0.27% of MDU Resources Group worth $13,963,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Versor Investments LP purchased a new stake in shares of MDU Resources Group in the second quarter worth about $238,000. Natixis Advisors LLC boosted its holdings in MDU Resources Group by 82.4% in the 2nd quarter. Natixis Advisors LLC now owns 38,726 shares of the utilities provider's stock worth $972,000 after acquiring an additional 17,498 shares during the period. Ingalls & Snyder LLC boosted its holdings in MDU Resources Group by 3.4% in the 2nd quarter. Ingalls & Snyder LLC now owns 38,485 shares of the utilities provider's stock worth $966,000 after acquiring an additional 1,275 shares during the period. Americana Partners LLC acquired a new stake in MDU Resources Group during the 2nd quarter valued at $246,000. Finally, Atlas Capital Advisors LLC acquired a new stake in shares of MDU Resources Group during the second quarter valued at about $27,000. 71.44% of the stock is currently owned by institutional investors and hedge funds.

MDU Resources Group Stock Up 0.1 %

NYSE MDU traded up $0.03 on Wednesday, hitting $25.07. 595,459 shares of the stock traded hands, compared to its average volume of 1,163,669. The company has a current ratio of 1.22, a quick ratio of 1.15 and a debt-to-equity ratio of 0.73. The stock has a 50-day moving average of $25.38 and a 200 day moving average of $24.69. MDU Resources Group, Inc. has a twelve month low of $18.04 and a twelve month high of $27.30. The company has a market capitalization of $5.11 billion, a P/E ratio of 10.70, a price-to-earnings-growth ratio of 2.66 and a beta of 0.77.

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 (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.11. MDU Resources Group had a return on equity of 11.29% and a net margin of 9.25%. The firm had revenue of $1.05 billion for the quarter, compared to analysts' expectations of $1.06 billion. During the same period last year, the business posted $0.29 earnings per share. The firm's revenue for the quarter was down 4.0% on a year-over-year basis. As a group, analysts expect 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 disclosed 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 positive change 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 dividend payout ratio is 21.37%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on MDU shares. Argus raised shares of MDU Resources Group from a "hold" rating to a "buy" rating and set a $30.00 price target for the company in a research report on Monday, May 20th. StockNews.com downgraded shares of MDU Resources Group from a "buy" rating to a "hold" rating in a research report 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.