Hsbc Holdings PLC Invests $331,000 in MDU Resources Group, Inc. (NYSE:MDU)

Hsbc Holdings PLC purchased a new stake in shares of MDU Resources Group, Inc. (NYSE:MDU) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 13,143 shares of the utilities provider’s stock, valued at approximately $331,000.

A number of other institutional investors have also added to or reduced their stakes in MDU. American Century Companies Inc. grew its stake in shares of MDU Resources Group by 30.7% during the second quarter. American Century Companies Inc. now owns 4,158,224 shares of the utilities provider’s stock worth $104,371,000 after buying an additional 977,487 shares during the last quarter. Dimensional Fund Advisors LP grew its position in MDU Resources Group by 8.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,491,990 shares of the utilities provider’s stock worth $188,049,000 after acquiring an additional 563,424 shares during the last quarter. Victory Capital Management Inc. increased its holdings in MDU Resources Group by 132.1% in the 2nd quarter. Victory Capital Management Inc. now owns 812,139 shares of the utilities provider’s stock worth $20,385,000 after purchasing an additional 462,278 shares in the last quarter. Jupiter Asset Management Ltd. bought a new position in MDU Resources Group in the second quarter valued at about $11,105,000. Finally, Bornite Capital Management LP acquired a new stake in shares of MDU Resources Group during the first quarter valued at about $8,820,000. 71.44% of the stock is currently owned by institutional investors and hedge funds.

MDU Resources Group Price Performance

Shares of NYSE:MDU opened at $27.20 on Thursday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.15 and a current ratio of 1.22. MDU Resources Group, Inc. has a 52 week low of $18.04 and a 52 week high of $27.92. The firm has a market cap of $5.55 billion, a PE ratio of 11.62, a price-to-earnings-growth ratio of 2.62 and a beta of 0.77. The firm’s fifty day moving average is $25.83 and its 200-day moving average is $25.22.

MDU Resources Group (NYSE:MDU) last announced its earnings results on Thursday, August 8th. The utilities provider reported $0.32 EPS for the quarter, topping the consensus estimate of $0.21 by $0.11. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.06 billion. MDU Resources Group had a return on equity of 11.29% and a net margin of 9.25%. The business’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.29 EPS. Sell-side analysts predict that MDU Resources Group, Inc. will post 1.58 earnings per share for the current year.

MDU Resources Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Thursday, September 12th were issued a $0.13 dividend. The ex-dividend date was Thursday, September 12th. This is a boost from MDU Resources Group’s previous quarterly dividend of $0.13. This represents a $0.52 annualized dividend and a yield of 1.91%. MDU Resources Group’s dividend payout ratio is presently 22.22%.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of MDU Resources Group from a “buy” rating to a “hold” rating in a report on Friday, July 26th.

MDU Resources Group Profile

MDU Resources Group, Inc engages in the regulated energy delivery, and construction materials and services businesses in the United States. It operates through four segments: Electric, Natural Gas Distribution, Pipeline, and Construction Services. The Electric segment generates, transmits, and distributes electricity for residential, commercial, industrial, and municipal customers in Montana, North Dakota, South Dakota, and Wyoming; and operates 3,400 miles of transmission lines, 4,800 miles of distribution lines, and 82 transmission and 298 distribution substations.