Assenagon Asset Management S.A. Invests $2.23 Million in MDU Resources Group, Inc. (NYSE:MDU)

Assenagon Asset Management S.A. acquired a new stake in MDU Resources Group, Inc. (NYSE:MDU - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 81,498 shares of the utilities provider's stock, valued at approximately $2,234,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MDU. V Square Quantitative Management LLC purchased a new position in shares of MDU Resources Group in the third quarter worth about $25,000. Atlas Capital Advisors LLC acquired a new stake in shares of MDU Resources Group in the 2nd quarter worth $27,000. Northwestern Mutual Wealth Management Co. increased its position in 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 worth $54,000 after purchasing an additional 413 shares during the last quarter. Blue Trust Inc. boosted its holdings 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. purchased a new stake in shares of MDU Resources Group in the 2nd quarter valued at approximately $163,000. Institutional investors and hedge funds own 71.44% of the company's stock.

Wall Street Analysts Forecast Growth

MDU has been the topic of several analyst reports. StockNews.com began coverage on shares of MDU Resources Group in a research report on Monday. They set a "hold" rating on the stock. Bank of America reaffirmed a "neutral" rating and issued a $31.00 price target (up previously from $30.00) on shares of MDU Resources Group in a research note on Monday, October 21st.

MDU Resources Group Trading Down 47.7 %

Shares of MDU traded down $13.75 during trading on Friday, reaching $15.10. 8,604,087 shares of the company traded hands, compared to its average volume of 1,502,643. The stock has a 50-day simple moving average of $27.21 and a 200-day simple moving average of $25.85. 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, Inc. has a twelve month low of $14.91 and a twelve month high of $30.52. The stock has a market cap of $3.08 billion, a PE ratio of 7.55, a price-to-earnings-growth ratio of 2.71 and a beta of 0.77.

MDU Resources Group (NYSE:MDU - Get Free Report) last announced its 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 company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the previous year, the company earned $0.29 earnings per share. The firm's quarterly revenue was down 4.0% compared to the same quarter last year. On average, analysts anticipate that MDU Resources Group, Inc. will post 1.57 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. Investors of record on Thursday, September 12th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 3.44%. This is a boost from MDU Resources Group's previous quarterly dividend of $0.13. The ex-dividend date was Thursday, September 12th. MDU Resources Group's dividend payout ratio (DPR) is 26.00%.

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.