MDU Resources Group, Inc. (NYSE:MDU) Stake Lowered by State of Tennessee Treasury Department

State of Tennessee Treasury Department lowered its holdings in MDU Resources Group, Inc. (NYSE:MDU) by 50.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 90,000 shares of the utilities provider’s stock after selling 90,000 shares during the period. State of Tennessee Treasury Department’s holdings in MDU Resources Group were worth $2,336,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AT Bancorp bought a new position in shares of MDU Resources Group in the 2nd quarter worth about $131,000. Global X Management Co. LLC lifted its position in shares of MDU Resources Group by 220.3% in the 2nd quarter. Global X Management Co. LLC now owns 6,198 shares of the utilities provider’s stock worth $162,000 after buying an additional 4,263 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of MDU Resources Group by 8.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,671 shares of the utilities provider’s stock worth $175,000 after buying an additional 537 shares during the last quarter. Mosaic Family Wealth LLC lifted its position in shares of MDU Resources Group by 5.7% in the 2nd quarter. Mosaic Family Wealth LLC now owns 6,972 shares of the utilities provider’s stock worth $183,000 after buying an additional 374 shares during the last quarter. Finally, Ffcm LLC increased its holdings in shares of MDU Resources Group by 5.7% in the 2nd quarter. Ffcm LLC now owns 7,360 shares of the utilities provider’s stock worth $193,000 after acquiring an additional 396 shares during the period. 63.61% of the stock is owned by institutional investors and hedge funds.

Several equities analysts have commented on the stock. KeyCorp reaffirmed a “buy” rating and issued a $28.00 price objective on shares of MDU Resources Group in a research note on Friday, October 20th. Zacks Investment Research cut shares of MDU Resources Group from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $30.75.

MDU Resources Group, Inc. (MDU) traded up $0.06 during mid-day trading on Monday, hitting $28.02. 477,337 shares of the company traded hands, compared to its average volume of 847,477. 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 $5,490.00, a PE ratio of 23.50, a P/E/G ratio of 2.93 and a beta of 0.91. MDU Resources Group, Inc. has a twelve month low of $25.14 and a twelve month high of $29.92.

MDU Resources Group (NYSE:MDU) last posted its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $0.46 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.03). The company had revenue of $1.27 billion for the quarter. MDU Resources Group had a return on equity of 10.20% and a net margin of 5.39%. During the same period in the prior year, the company posted $0.45 EPS. analysts predict that MDU Resources Group, Inc. will post 1.19 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Thursday, December 14th will be given a $0.1975 dividend. This is a positive change from MDU Resources Group’s previous quarterly dividend of $0.19. The ex-dividend date is Wednesday, December 13th. This represents a $0.79 dividend on an annualized basis and a dividend yield of 2.82%. MDU Resources Group’s dividend payout ratio (DPR) is currently 64.17%.

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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.

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

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