Zurcher Kantonalbank Zurich Cantonalbank trimmed its position in shares of Mdu Resources Group Inc (NYSE:MDU) by 18.3% in the first quarter, HoldingsChannel reports. The firm owned 10,322 shares of the utilities provider’s stock after selling 2,305 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Mdu Resources Group were worth $267,000 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. Quadrant Capital Group LLC boosted its holdings in shares of Mdu Resources Group by 1,184.7% in the 1st quarter. Quadrant Capital Group LLC now owns 2,351 shares of the utilities provider’s stock valued at $59,000 after buying an additional 2,168 shares during the period. OLD Republic International Corp boosted its holdings in shares of Mdu Resources Group by 8.7% in the 1st quarter. OLD Republic International Corp now owns 1,423,000 shares of the utilities provider’s stock valued at $36,756,000 after buying an additional 113,500 shares during the period. Bank of Montreal Can boosted its holdings in shares of Mdu Resources Group by 36.6% in the 1st quarter. Bank of Montreal Can now owns 47,216 shares of the utilities provider’s stock valued at $1,220,000 after buying an additional 12,651 shares during the period. Gs Investments Inc. boosted its holdings in shares of Mdu Resources Group by 6.5% in the 1st quarter. Gs Investments Inc. now owns 7,260 shares of the utilities provider’s stock valued at $188,000 after buying an additional 440 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its holdings in shares of Mdu Resources Group by 3,771.4% in the 1st quarter. BNP Paribas Arbitrage SA now owns 260,971 shares of the utilities provider’s stock valued at $6,741,000 after buying an additional 254,230 shares during the period. 65.20% of the stock is owned by institutional investors and hedge funds.
Separately, Williams Capital set a $30.00 price target on shares of Mdu Resources Group and gave the company a “buy” rating in a report on Thursday, May 2nd.
In other news, Director David M. Sparby acquired 3,000 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were purchased at an average cost of $25.75 per share, for a total transaction of $77,250.00. Following the transaction, the director now directly owns 4,726 shares in the company, valued at approximately $121,694.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.05% of the company’s stock.
NYSE MDU opened at $25.34 on Thursday. Mdu Resources Group Inc has a one year low of $22.73 and a one year high of $29.62. The company has a quick ratio of 0.87, a current ratio of 1.16 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $5.02 billion, a PE ratio of 18.36, a price-to-earnings-growth ratio of 2.41 and a beta of 0.67.
Mdu Resources Group (NYSE:MDU) last issued its quarterly earnings data on Tuesday, April 30th. The utilities provider reported $0.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.03). The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1,000.00 million. Mdu Resources Group had a net margin of 5.83% and a return on equity of 10.58%. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.22 earnings per share. Equities analysts forecast that Mdu Resources Group Inc will post 1.49 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Thursday, June 13th will be given a $0.2025 dividend. The ex-dividend date is Wednesday, June 12th. This represents a $0.81 annualized dividend and a yield of 3.20%. Mdu Resources Group’s dividend payout ratio is presently 58.70%.
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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