Qube Research & Technologies Ltd acquired a new stake in Mdu Resources Group Inc (NYSE:MDU) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 8,360 shares of the utilities provider’s stock, valued at approximately $216,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Quantitative Systematic Strategies LLC bought a new position in shares of Mdu Resources Group in the second quarter valued at approximately $2,027,000. New York State Teachers Retirement System boosted its position in shares of Mdu Resources Group by 5.1% in the first quarter. New York State Teachers Retirement System now owns 328,428 shares of the utilities provider’s stock valued at $8,483,000 after acquiring an additional 15,900 shares during the period. Moors & Cabot Inc. boosted its position in shares of Mdu Resources Group by 69.9% in the second quarter. Moors & Cabot Inc. now owns 46,421 shares of the utilities provider’s stock valued at $1,198,000 after acquiring an additional 19,100 shares during the period. Janney Montgomery Scott LLC bought a new position in shares of Mdu Resources Group in the first quarter valued at approximately $240,000. Finally, Geode Capital Management LLC boosted its position in shares of Mdu Resources Group by 15.4% in the fourth quarter. Geode Capital Management LLC now owns 2,957,670 shares of the utilities provider’s stock valued at $70,510,000 after acquiring an additional 393,966 shares during the period. Institutional investors own 65.19% of the company’s stock.
MDU has been the subject of several research analyst reports. Williams Capital set a $30.00 target price on shares of Mdu Resources Group and gave the company a “buy” rating in a research report on Thursday, May 2nd. Zacks Investment Research upgraded shares of Mdu Resources Group from a “sell” rating to a “hold” rating in a research report on Monday, May 20th.
Mdu Resources Group (NYSE:MDU) last announced its earnings results on Tuesday, July 30th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.04. Mdu Resources Group had a net margin of 5.91% and a return on equity of 11.11%. The business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same period in the previous year, the business posted $0.22 earnings per share. Mdu Resources Group’s revenue for the quarter was up 22.4% on a year-over-year basis. As a group, research analysts anticipate that Mdu Resources Group Inc will post 1.49 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Thursday, September 12th will be given a dividend of $0.2025 per share. The ex-dividend date is Wednesday, September 11th. This represents a $0.81 annualized dividend and a yield of 3.02%. Mdu Resources Group’s payout ratio is presently 58.70%.
In related news, Director Edward A. Ryan bought 3,500 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was acquired at an average cost of $24.81 per share, for a total transaction of $86,835.00. Following the completion of the transaction, the director now directly owns 12,190 shares in the company, valued at approximately $302,433.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David L. Goodin bought 5,000 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were bought at an average price of $24.45 per share, with a total value of $122,250.00. Following the completion of the transaction, the chief executive officer now owns 254,466 shares of the company’s stock, valued at $6,221,693.70. The disclosure for this purchase can be found here. Insiders own 1.05% of the company’s stock.
Mdu Resources Group Profile
MDU Resources Group, Inc engages in regulated energy delivery, and construction materials and services businesses in the United States. It operates through five segments: Electric, Natural Gas Distribution, Pipeline and Midstream, Construction Materials and Contracting, and Construction Services. The Electric segment generates, transmits, and distributes electricity in Montana, North Dakota, South Dakota, and Wyoming.
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