MDU Resources Group, Inc. (MDU) Holdings Lifted by Aberdeen Asset Management PLC UK
Aberdeen Asset Management PLC UK boosted its position in shares of MDU Resources Group, Inc. (NYSE:MDU) by 356.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,281 shares of the utilities provider’s stock after buying an additional 27,548 shares during the quarter. Aberdeen Asset Management PLC UK’s holdings in MDU Resources Group were worth $924,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of MDU. BlackRock Inc. boosted its stake in MDU Resources Group by 3,744.8% during the first quarter. BlackRock Inc. now owns 16,186,762 shares of the utilities provider’s stock worth $443,033,000 after buying an additional 15,765,763 shares during the period. Vanguard Group Inc. boosted its stake in MDU Resources Group by 17.7% during the first quarter. Vanguard Group Inc. now owns 22,988,073 shares of the utilities provider’s stock worth $629,183,000 after buying an additional 3,465,196 shares during the period. Copper Rock Capital Partners LLC purchased a new position in MDU Resources Group during the second quarter worth $24,866,000. Citadel Advisors LLC boosted its stake in MDU Resources Group by 2,417.7% during the first quarter. Citadel Advisors LLC now owns 711,589 shares of the utilities provider’s stock worth $19,476,000 after buying an additional 683,325 shares during the period. Finally, First Trust Advisors LP boosted its stake in MDU Resources Group by 55.7% during the second quarter. First Trust Advisors LP now owns 1,162,242 shares of the utilities provider’s stock worth $30,451,000 after buying an additional 415,563 shares during the period. 63.55% of the stock is owned by institutional investors.
Shares of MDU Resources Group, Inc. (NYSE MDU) opened at 26.40 on Thursday. MDU Resources Group, Inc. has a 52 week low of $24.30 and a 52 week high of $29.92. The stock’s 50 day moving average is $26.49 and its 200-day moving average is $26.64. The stock has a market capitalization of $5.16 billion, a price-to-earnings ratio of 22.96 and a beta of 0.92.
MDU Resources Group (NYSE:MDU) last issued its quarterly earnings data on Tuesday, August 1st. The utilities provider reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.03). The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.10 billion. MDU Resources Group had a return on equity of 10.24% and a net margin of 5.37%. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.24 earnings per share. On average, analysts anticipate that MDU Resources Group, Inc. will post $1.21 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Thursday, September 14th will be given a dividend of $0.1925 per share. This represents a $0.77 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date is Wednesday, September 13th. MDU Resources Group’s payout ratio is 66.96%.
In other MDU Resources Group news, CEO David L. Goodin acquired 5,000 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The stock was purchased at an average cost of $25.57 per share, with a total value of $127,850.00. Following the transaction, the chief executive officer now owns 95,210 shares of the company’s stock, valued at $2,434,519.70. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.95% of the stock is currently owned by company insiders.
Several research firms have commented on MDU. KeyCorp reaffirmed a “buy” rating and set a $28.00 price objective on shares of MDU Resources Group in a research note on Friday, September 1st. BidaskClub raised shares of MDU Resources Group from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, Zacks Investment Research lowered shares of MDU Resources Group from a “hold” rating to a “strong sell” rating in a research note on Friday, July 28th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. MDU Resources Group has a consensus rating of “Hold” and an average target price of $31.25.
MDU Resources Group Profile
MDU Resources Group, Inc is engaged in regulated energy delivery and construction materials and services business. The Company’s businesses segments are electric, natural gas distribution, pipeline and midstream, construction materials and contracting, and construction services. The electric segment generates, transmits and distributes electricity.
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