49,563 Shares in MDU Resources Group, Inc. (NYSE:MDU) Bought by Riverwater Partners LLC

Riverwater Partners LLC acquired a new position in MDU Resources Group, Inc. (NYSE:MDU - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 49,563 shares of the utilities provider's stock, valued at approximately $1,348,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. V Square Quantitative Management LLC bought a new stake in shares of MDU Resources Group in the 3rd quarter worth approximately $25,000. Atlas Capital Advisors LLC bought a new stake in MDU Resources Group in the second quarter valued at $27,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of MDU Resources Group by 23.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,142 shares of the utilities provider's stock valued at $54,000 after acquiring an additional 413 shares during the period. Blue Trust Inc. lifted its position in MDU Resources Group by 238.1% in the 3rd quarter. Blue Trust Inc. now owns 2,935 shares of the utilities provider's stock valued at $74,000 after purchasing an additional 2,067 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in MDU Resources Group in the 2nd quarter valued at about $163,000. Institutional investors and hedge funds own 71.44% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on MDU. Bank of America reiterated a "neutral" rating and set a $31.00 price objective (up from $30.00) on shares of MDU Resources Group in a research report on Monday. StockNews.com began coverage on shares of MDU Resources Group in a research report on Sunday. They issued a "hold" rating on the stock.

MDU Resources Group Stock Down 0.3 %

NYSE:MDU traded down $0.10 on Thursday, hitting $28.77. 1,971,446 shares of the company's stock traded hands, compared to its average volume of 1,462,848. The company has a market cap of $5.87 billion, a PE ratio of 12.29, a price-to-earnings-growth ratio of 2.66 and a beta of 0.77. MDU Resources Group, Inc. has a 1 year low of $18.04 and a 1 year high of $30.52. 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 firm has a 50-day moving average price of $26.77 and a 200-day moving average price of $25.70.

MDU Resources Group (NYSE:MDU - Get Free Report) last released 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 firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.06 billion. MDU Resources Group had a net margin of 9.25% and a return on equity of 11.29%. The company's revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.29 EPS. Equities analysts anticipate that MDU Resources Group, Inc. will post 1.58 EPS for the current fiscal 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 paid a $0.13 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $0.52 dividend on an annualized basis and a yield of 1.81%. This is an increase from MDU Resources Group's previous quarterly dividend of $0.13. MDU Resources Group's payout ratio is 22.22%.

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.