Algert Global LLC Raises Position in MDU Resources Group, Inc. (NYSE:MDU)

Algert Global LLC boosted its stake in MDU Resources Group, Inc. (NYSE:MDU) by 453.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 282,573 shares of the utilities provider’s stock after buying an additional 231,530 shares during the period. Algert Global LLC’s holdings in MDU Resources Group were worth $7,745,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP lifted its holdings in shares of MDU Resources Group by 8.1% during the second quarter. Dimensional Fund Advisors LP now owns 7,491,990 shares of the utilities provider’s stock valued at $188,049,000 after purchasing an additional 563,424 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of MDU Resources Group by 40.9% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,048,344 shares of the utilities provider’s stock valued at $151,813,000 after purchasing an additional 1,756,530 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of MDU Resources Group by 30.7% during the second quarter. American Century Companies Inc. now owns 4,158,224 shares of the utilities provider’s stock valued at $104,371,000 after purchasing an additional 977,487 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of MDU Resources Group by 5.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,082,468 shares of the utilities provider’s stock valued at $57,080,000 after purchasing an additional 101,955 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of MDU Resources Group by 1.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,782,538 shares of the utilities provider’s stock valued at $48,859,000 after purchasing an additional 33,982 shares during the last quarter. 71.44% of the stock is currently owned by hedge funds and other institutional investors.

MDU Resources Group Price Performance

Shares of MDU opened at $19.94 on Friday. The company has a market capitalization of $4.07 billion, a P/E ratio of 10.23, a price-to-earnings-growth ratio of 2.49 and a beta of 0.76. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.73. The firm has a 50 day moving average of $24.81 and a 200 day moving average of $25.12. MDU Resources Group, Inc. has a twelve month low of $14.91 and a twelve month high of $30.52.

MDU Resources Group (NYSE:MDU) last announced its quarterly earnings results on Thursday, November 7th. The utilities provider reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.01. MDU Resources Group had a net margin of 8.92% and a return on equity of 11.24%. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $969.17 million. During the same quarter last year, the firm earned $0.29 earnings per share. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. As a group, equities research analysts anticipate that MDU Resources Group, Inc. will post 1.13 earnings per share for the current fiscal year.

MDU Resources Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Thursday, December 12th will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date of this dividend is Thursday, December 12th. MDU Resources Group’s dividend payout ratio (DPR) is presently 26.67%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MDU. Siebert Williams Shank upgraded shares of MDU Resources Group from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a report on Monday, November 4th. Bank of America raised shares of MDU Resources Group from a “neutral” rating to a “buy” rating and reduced their price target for the company from $31.00 to $17.00 in a research report on Tuesday, November 5th. Finally, StockNews.com started coverage on shares of MDU Resources Group in a research report on Tuesday, November 5th. They set a “hold” rating for the company.

About MDU Resources Group

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.