Anchor Investment Management LLC Sells 3,000 Shares of MDU Resources Group, Inc. (NYSE:MDU)

Anchor Investment Management LLC reduced its holdings in shares of MDU Resources Group, Inc. (NYSE:MDU) by 33.3% during the second quarter, HoldingsChannel.com reports. The fund owned 6,000 shares of the utilities provider’s stock after selling 3,000 shares during the quarter. Anchor Investment Management LLC’s holdings in MDU Resources Group were worth $151,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Atlas Capital Advisors LLC bought a new position in MDU Resources Group in the 2nd quarter valued at $27,000. TFO Wealth Partners LLC boosted its holdings in shares of MDU Resources Group by 16,070.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,617 shares of the utilities provider’s stock worth $32,000 after buying an additional 1,607 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in MDU Resources Group by 23.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,142 shares of the utilities provider’s stock valued at $54,000 after buying an additional 413 shares during the period. Tompkins Financial Corp increased its holdings in MDU Resources Group by 22.2% during the first quarter. Tompkins Financial Corp now owns 4,404 shares of the utilities provider’s stock worth $111,000 after buying an additional 800 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in MDU Resources Group in the second quarter worth about $163,000. 71.44% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

MDU Resources Group Stock Up 1.3 %

Shares of NYSE MDU opened at $27.25 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.22 and a quick ratio of 1.15. The stock has a market capitalization of $5.56 billion, a PE ratio of 11.65, a P/E/G ratio of 2.62 and a beta of 0.77. MDU Resources Group, Inc. has a one year low of $18.04 and a one year high of $27.92. The business’s fifty day moving average price is $25.83 and its 200-day moving average price is $25.26.

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

MDU Resources Group Increases Dividend

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

MDU Resources Group Company 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.