Assenagon Asset Management S.A. Acquires New Position in MDU Resources Group, Inc. (NYSE:MDU)

Assenagon Asset Management S.A. acquired a new stake in MDU Resources Group, Inc. (NYSE:MDU) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 81,498 shares of the utilities provider’s stock, valued at approximately $2,234,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. V Square Quantitative Management LLC acquired a new stake in shares of MDU Resources Group in the third quarter valued at about $25,000. Atlas Capital Advisors LLC acquired a new position in MDU Resources Group during the second quarter worth about $27,000. Northwestern Mutual Wealth Management Co. raised 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 worth $54,000 after acquiring an additional 413 shares during the last quarter. Blue Trust Inc. raised its position in MDU Resources Group by 238.1% during the third quarter. Blue Trust Inc. now owns 2,935 shares of the utilities provider’s stock worth $74,000 after acquiring an additional 2,067 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in MDU Resources Group during the second quarter worth about $163,000. Institutional investors and hedge funds own 71.44% of the company’s stock.

MDU Resources Group Stock Performance

Shares of MDU opened at $28.86 on Friday. The company has a 50-day moving average of $27.21 and a two-hundred day moving average of $25.85. The company has a current ratio of 1.22, a quick ratio of 1.15 and a debt-to-equity ratio of 0.73. The stock has a market cap of $5.88 billion, a P/E ratio of 12.33, a PEG ratio of 2.71 and a beta of 0.77. MDU Resources Group, Inc. has a 12-month low of $18.04 and a 12-month high of $30.52.

MDU Resources Group (NYSE:MDU) last announced its quarterly earnings data on Thursday, August 8th. The utilities provider reported $0.32 earnings per share (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 quarterly revenue was down 4.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.29 earnings per share. As a group, research analysts predict that MDU Resources Group, Inc. will post 1.57 EPS for the current fiscal year.

MDU Resources Group Increases Dividend

The company also recently disclosed 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 an increase from MDU Resources Group’s previous quarterly dividend of $0.13. The ex-dividend date was Thursday, September 12th. This represents a $0.52 annualized dividend and a dividend yield of 1.80%. MDU Resources Group’s dividend payout ratio is presently 22.22%.

Wall Street Analysts Forecast Growth

MDU has been the subject of a number of research reports. Bank of America restated a “neutral” rating and set a $31.00 target price (up previously from $30.00) on shares of MDU Resources Group in a research report on Monday, October 21st. StockNews.com initiated coverage on shares of MDU Resources Group in a research report on Monday. They set a “hold” rating for the company.

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.