Allspring Global Investments Holdings LLC Acquires 33,982 Shares of MDU Resources Group, Inc. (NYSE:MDU)

Allspring Global Investments Holdings LLC boosted its holdings in shares of MDU Resources Group, Inc. (NYSE:MDU - Free Report) by 1.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,782,538 shares of the utilities provider's stock after acquiring an additional 33,982 shares during the period. Allspring Global Investments Holdings LLC owned 0.87% of MDU Resources Group worth $48,859,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of MDU. Los Angeles Capital Management LLC purchased a new position in MDU Resources Group during the first quarter valued at $208,000. Ballentine Partners LLC purchased a new stake in MDU Resources Group during the 1st quarter valued at about $207,000. Register Financial Advisors LLC increased its stake in MDU Resources Group by 6.9% during the 1st quarter. Register Financial Advisors LLC now owns 140,782 shares of the utilities provider's stock valued at $3,548,000 after purchasing an additional 9,030 shares in the last quarter. Grimes & Company Inc. bought a new stake in MDU Resources Group during the 1st quarter valued at about $214,000. Finally, State of Michigan Retirement System raised its holdings in MDU Resources Group by 2.5% in the first quarter. State of Michigan Retirement System now owns 50,020 shares of the utilities provider's stock worth $1,261,000 after buying an additional 1,200 shares during the last quarter. Institutional investors own 71.44% of the company's stock.

Analyst Upgrades and Downgrades

MDU has been the topic of a number of recent analyst reports. Bank of America reissued a "neutral" rating and set a $31.00 price target (up previously from $30.00) on shares of MDU Resources Group in a research report on Monday. StockNews.com assumed coverage on MDU Resources Group in a report on Sunday. They issued a "hold" rating for the company.

MDU Resources Group Stock Performance

Shares of NYSE MDU traded up $0.02 during trading on Wednesday, reaching $28.87. 1,565,083 shares of the company traded hands, compared to its average volume of 1,460,368. The firm has a 50 day simple moving average of $26.59 and a 200-day simple moving average of $25.66. MDU Resources Group, Inc. has a 52-week low of $18.04 and a 52-week high of $30.52. The stock has a market capitalization of $5.89 billion, a PE ratio of 12.34, a P/E/G ratio of 2.66 and a beta of 0.77. The company has a quick ratio of 1.15, a current ratio of 1.22 and a debt-to-equity ratio of 0.73.

MDU Resources Group (NYSE:MDU - Get Free Report) last issued its earnings results 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. 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 quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter last year, the company posted $0.29 earnings per share. Equities research analysts anticipate that MDU Resources Group, Inc. will post 1.58 earnings per share for the current year.

MDU Resources Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Thursday, September 12th were issued a $0.13 dividend. This is an increase from MDU Resources Group's previous quarterly dividend of $0.13. The ex-dividend date was Thursday, September 12th. This represents a $0.52 dividend on an annualized basis and a yield of 1.80%. MDU Resources Group's dividend payout ratio is currently 22.22%.

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.