State Treasurer State of Michigan Acquires 1,100 Shares of MDU Resources Group, Inc. (NYSE:MDU)

State Treasurer State of Michigan increased its position in MDU Resources Group, Inc. (NYSE:MDU) by 1.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 80,462 shares of the utilities provider’s stock after buying an additional 1,100 shares during the period. State Treasurer State of Michigan’s holdings in MDU Resources Group were worth $2,108,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in MDU. Bank of The West boosted its stake in shares of MDU Resources Group by 0.3% in the first quarter. Bank of The West now owns 8,059 shares of the utilities provider’s stock worth $221,000 after buying an additional 23 shares during the last quarter. Capstone Asset Management Co. boosted its stake in shares of MDU Resources Group by 0.4% in the second quarter. Capstone Asset Management Co. now owns 22,454 shares of the utilities provider’s stock worth $588,000 after buying an additional 90 shares during the last quarter. Hanseatic Management Services Inc. boosted its stake in shares of MDU Resources Group by 0.6% in the first quarter. Hanseatic Management Services Inc. now owns 29,963 shares of the utilities provider’s stock worth $820,000 after buying an additional 170 shares during the last quarter. World Asset Management Inc boosted its stake in shares of MDU Resources Group by 1.3% in the first quarter. World Asset Management Inc now owns 13,759 shares of the utilities provider’s stock worth $377,000 after buying an additional 180 shares during the last quarter. Finally, Thompson Investment Management Inc. boosted its position in MDU Resources Group by 1.3% in the first quarter. Thompson Investment Management Inc. now owns 17,125 shares of the utilities provider’s stock valued at $469,000 after buying an additional 225 shares during the last quarter. Hedge funds and other institutional investors own 62.93% of the company’s stock.

MDU Resources Group, Inc. (NYSE:MDU) traded up 0.15% during trading on Friday, reaching $25.85. The company’s stock had a trading volume of 510,754 shares. MDU Resources Group, Inc. has a 52 week low of $23.06 and a 52 week high of $29.92. The stock has a market capitalization of $5.05 billion, a price-to-earnings ratio of 22.48 and a beta of 0.91. The firm has a 50 day moving average of $25.90 and a 200 day moving average of $26.64.

MDU Resources Group (NYSE:MDU) last announced its earnings results on Tuesday, August 1st. The utilities provider reported $0.22 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by $0.03. MDU Resources Group had a return on equity of 10.24% and a net margin of 5.37%. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the previous year, the company posted $0.24 EPS. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. Analysts expect that MDU Resources Group, Inc. will post $1.21 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Thursday, September 14th will be issued a dividend of $0.1925 per share. This represents a $0.77 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend is Wednesday, September 13th. MDU Resources Group’s payout ratio is 66.96%.

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A number of brokerages have issued reports on MDU. BidaskClub raised MDU Resources Group from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Zacks Investment Research raised MDU Resources Group from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. One analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $32.33.

In other MDU Resources Group news, CEO David L. Goodin bought 5,000 shares of MDU Resources Group stock in a transaction that occurred on Friday, August 11th. The stock was acquired at an average price of $25.57 per share, for a total transaction of $127,850.00. Following the completion of the acquisition, the chief executive officer now owns 95,210 shares of the company’s stock, valued at approximately $2,434,519.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.95% of the company’s stock.

MDU Resources Group Company 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.

Institutional Ownership by Quarter for MDU Resources Group (NYSE:MDU)

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