Huntington National Bank lowered its stake in MDU Resources Group, Inc. (NYSE:MDU) by 19.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 7,798 shares of the utilities provider’s stock after selling 1,890 shares during the quarter. Huntington National Bank’s holdings in MDU Resources Group were worth $203,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the business. AT Bancorp bought a new position in shares of MDU Resources Group during the second quarter valued at approximately $131,000. Global X Management Co. LLC raised its holdings in MDU Resources Group by 220.3% in the second quarter. Global X Management Co. LLC now owns 6,198 shares of the utilities provider’s stock worth $162,000 after purchasing an additional 4,263 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in MDU Resources Group by 8.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,671 shares of the utilities provider’s stock worth $175,000 after purchasing an additional 537 shares in the last quarter. Mosaic Family Wealth LLC raised its holdings in MDU Resources Group by 5.7% in the second quarter. Mosaic Family Wealth LLC now owns 6,972 shares of the utilities provider’s stock worth $183,000 after purchasing an additional 374 shares in the last quarter. Finally, Ffcm LLC raised its holdings in MDU Resources Group by 5.7% in the second quarter. Ffcm LLC now owns 7,360 shares of the utilities provider’s stock worth $193,000 after purchasing an additional 396 shares in the last quarter. Hedge funds and other institutional investors own 63.13% of the company’s stock.
A number of equities research analysts have recently commented on MDU shares. Zacks Investment Research raised MDU Resources Group from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. BidaskClub cut MDU Resources Group from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Finally, KeyCorp reaffirmed a “buy” rating and set a $28.00 price objective on shares of MDU Resources Group in a research report on Friday, September 1st. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. MDU Resources Group presently has a consensus rating of “Hold” and an average target price of $30.75.
MDU Resources Group, Inc. (NYSE MDU) opened at 27.35 on Wednesday. The firm’s 50-day moving average price is $26.72 and its 200 day moving average price is $26.56. The stock has a market cap of $5.34 billion, a PE ratio of 23.78 and a beta of 0.91. MDU Resources Group, Inc. has a 12-month low of $24.80 and a 12-month high of $29.92.
MDU Resources Group (NYSE:MDU) last issued its quarterly earnings data on Tuesday, August 1st. The utilities provider reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.03). The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.10 billion. MDU Resources Group had a return on equity of 10.24% and a net margin of 5.37%. The company’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.24 earnings per share. Analysts anticipate that MDU Resources Group, Inc. will post $1.22 EPS for the current year.
In related news, CEO David L. Goodin bought 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The stock was purchased at an average cost of $25.57 per share, for a total transaction of $127,850.00. Following the completion of the acquisition, the chief executive officer now owns 95,210 shares in the company, valued at approximately $2,434,519.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.95% of the company’s stock.
MDU Resources Group Company 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.
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