MDU Resources Group Inc (MDU) Shares Bought by Confluence Investment Management LLC
Confluence Investment Management LLC lifted its holdings in MDU Resources Group Inc (NYSE:MDU) by 2.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 564,020 shares of the utilities provider’s stock after buying an additional 11,844 shares during the quarter. Confluence Investment Management LLC’s holdings in MDU Resources Group were worth $15,161,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Griffin Asset Management Inc. acquired a new position in shares of MDU Resources Group in the 2nd quarter valued at approximately $215,000. Peregrine Asset Advisers Inc. acquired a new position in shares of MDU Resources Group in the 2nd quarter valued at approximately $4,271,000. Raymond James Financial Services Advisors Inc. boosted its position in MDU Resources Group by 31.7% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 34,024 shares of the utilities provider’s stock worth $891,000 after acquiring an additional 8,192 shares during the last quarter. AMP Capital Investors Ltd boosted its position in MDU Resources Group by 108.0% during the 3rd quarter. AMP Capital Investors Ltd now owns 47,463 shares of the utilities provider’s stock worth $1,232,000 after acquiring an additional 24,648 shares during the last quarter. Finally, Nomura Holdings Inc. acquired a new position in MDU Resources Group during the 2nd quarter worth approximately $405,000. Institutional investors and hedge funds own 63.54% of the company’s stock.
MDU Resources Group Inc (NYSE:MDU) opened at $26.61 on Tuesday. MDU Resources Group Inc has a 12-month low of $25.14 and a 12-month high of $29.74. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.28. The firm has a market capitalization of $5,157.99, a P/E ratio of 22.55, a price-to-earnings-growth ratio of 2.55 and a beta of 0.92.
The company also recently declared a quarterly dividend, which was paid on Monday, January 1st. Shareholders of record on Thursday, December 14th were given a dividend of $0.1975 per share. The ex-dividend date was Wednesday, December 13th. This represents a $0.79 dividend on an annualized basis and a yield of 2.97%. This is an increase from MDU Resources Group’s previous quarterly dividend of $0.19. MDU Resources Group’s dividend payout ratio is 66.95%.
A number of equities analysts have weighed in on MDU shares. Zacks Investment Research downgraded MDU Resources Group from a “buy” rating to a “hold” rating in a research report on Tuesday, November 7th. KeyCorp reaffirmed a “buy” rating and set a $29.50 price target on shares of MDU Resources Group in a research report on Friday, December 15th.
About MDU Resources Group
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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