Ingalls & Snyder LLC cut its position in MDU Resources Group Inc. (NYSE:MDU) by 1.9% during the third quarter, Holdings Channel reports. The firm owned 31,268 shares of the company’s stock after selling 615 shares during the period. Ingalls & Snyder LLC’s holdings in MDU Resources Group were worth $795,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in MDU. Barclays PLC increased its position in MDU Resources Group by 30.0% in the second quarter. Barclays PLC now owns 4,736 shares of the company’s stock worth $114,000 after buying an additional 1,094 shares during the period. MSI Financial Services Inc increased its position in MDU Resources Group by 0.4% in the third quarter. MSI Financial Services Inc now owns 5,077 shares of the company’s stock worth $129,000 after buying an additional 18 shares during the period. Sei Investments Co. increased its position in MDU Resources Group by 1,849.4% in the second quarter. Sei Investments Co. now owns 6,004 shares of the company’s stock worth $144,000 after buying an additional 5,696 shares during the period. Pacad Investment Ltd. purchased a new position in MDU Resources Group during the second quarter worth approximately $149,000. Finally, Walleye Trading LLC increased its position in MDU Resources Group by 3,363.5% in the second quarter. Walleye Trading LLC now owns 6,527 shares of the company’s stock worth $157,000 after buying an additional 6,727 shares during the period. Institutional investors own 64.05% of the company’s stock.
Shares of MDU Resources Group Inc. (NYSE:MDU) traded up 1.30% during midday trading on Friday, reaching $28.11. The company’s stock had a trading volume of 773,248 shares. The stock has a market capitalization of $5.49 billion, a P/E ratio of 108.53 and a beta of 0.81. MDU Resources Group Inc. has a 12 month low of $15.58 and a 12 month high of $28.67. The stock’s 50-day moving average is $26.10 and its 200 day moving average is $24.18.
MDU Resources Group (NYSE:MDU) last issued its quarterly earnings results on Wednesday, November 2nd. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. MDU Resources Group had a return on equity of 9.16% and a net margin of 1.21%. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the previous year, the company posted $0.38 earnings per share. MDU Resources Group’s revenue for the quarter was up .9% compared to the same quarter last year. On average, analysts expect that MDU Resources Group Inc. will post $1.13 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, January 1st. Stockholders of record on Thursday, December 8th will be issued a dividend of $0.1925 per share. This is an increase from MDU Resources Group’s previous quarterly dividend of $0.19. The ex-dividend date is Tuesday, December 6th. This represents a $0.77 dividend on an annualized basis and a dividend yield of 2.77%. MDU Resources Group’s payout ratio is currently 288.47%.
A number of equities research analysts have recently issued reports on MDU shares. DA Davidson reiterated a “hold” rating on shares of MDU Resources Group in a research note on Monday, November 7th. Williams Capital reiterated a “buy” rating on shares of MDU Resources Group in a research note on Friday, August 12th. Finally, Zacks Investment Research lowered MDU Resources Group from a “buy” rating to a “hold” rating in a research note on Tuesday, November 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $22.25.
About MDU Resources Group
MDU Resources Group, Inc is a diversified natural resource company. Montana-Dakota Utilities Co (Montana-Dakota) is a public utility division of the Company. Montana-Dakota, through the electric and natural gas distribution segments, generates, transmits and distributes electricity and distributes natural gas.