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

Allspring Global Investments Holdings LLC increased its stake in MDU Resources Group, Inc. (NYSE:MDU - Free Report) by 1.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,782,538 shares of the utilities provider's stock after buying 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 large investors have also bought and sold shares of the company. Dimensional Fund Advisors LP boosted its position in shares of MDU Resources Group by 8.1% during the second quarter. Dimensional Fund Advisors LP now owns 7,491,990 shares of the utilities provider's stock valued at $188,049,000 after purchasing an additional 563,424 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of MDU Resources Group by 40.9% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,048,344 shares of the utilities provider's stock valued at $151,813,000 after buying an additional 1,756,530 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of MDU Resources Group by 30.7% during the 2nd quarter. American Century Companies Inc. now owns 4,158,224 shares of the utilities provider's stock valued at $104,371,000 after buying an additional 977,487 shares in the last quarter. AQR Capital Management LLC grew its position in shares of MDU Resources Group by 36.6% in the 2nd quarter. AQR Capital Management LLC now owns 1,745,980 shares of the utilities provider's stock worth $43,824,000 after buying an additional 467,465 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of MDU Resources Group by 6.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,151,361 shares of the utilities provider's stock worth $28,899,000 after acquiring an additional 70,505 shares in the last quarter. 71.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. StockNews.com assumed coverage on MDU Resources Group in a research report on Sunday. They set a "hold" rating for the company. Bank of America restated a "neutral" rating and set a $31.00 price target (up from $30.00) on shares of MDU Resources Group in a report on Monday.

MDU Resources Group Price Performance

Shares of NYSE MDU opened at $28.86 on Wednesday. The firm has a market cap of $5.88 billion, a P/E ratio of 12.33, a PEG ratio of 2.66 and a beta of 0.77. MDU Resources Group, Inc. has a twelve month low of $18.04 and a twelve month high of $30.52. The company has a quick ratio of 1.15, a current ratio of 1.22 and a debt-to-equity ratio of 0.73. The company has a 50 day moving average of $26.59 and a 200 day moving average of $25.66.

MDU Resources Group (NYSE:MDU - Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The utilities provider reported $0.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $1.06 billion. During the same period in the prior year, the company posted $0.29 earnings per share. The company's quarterly revenue was down 4.0% on a year-over-year basis. As a group, research analysts expect that MDU Resources Group, Inc. will post 1.58 EPS for the current fiscal year.

MDU Resources Group Increases Dividend

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