Moors & Cabot Inc. lifted its position in shares of MDU Resources Group, Inc. (NYSE:MDU – Free Report) by 3.5% during the second quarter, Holdings Channel reports. The firm owned 42,013 shares of the utilities provider’s stock after acquiring an additional 1,415 shares during the quarter. Moors & Cabot Inc.’s holdings in MDU Resources Group were worth $1,055,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. BOKF NA increased its position in shares of MDU Resources Group by 4.1% during the first quarter. BOKF NA now owns 14,794 shares of the utilities provider’s stock worth $377,000 after purchasing an additional 579 shares in the last quarter. SummerHaven Investment Management LLC increased its position in MDU Resources Group by 1.8% in the 2nd quarter. SummerHaven Investment Management LLC now owns 34,869 shares of the utilities provider’s stock valued at $875,000 after acquiring an additional 606 shares during the period. Retirement Systems of Alabama increased its position in MDU Resources Group by 0.3% in the 1st quarter. Retirement Systems of Alabama now owns 255,718 shares of the utilities provider’s stock valued at $6,444,000 after acquiring an additional 671 shares during the period. Texas Permanent School Fund Corp increased its position in MDU Resources Group by 0.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 176,622 shares of the utilities provider’s stock valued at $4,451,000 after acquiring an additional 708 shares during the period. Finally, Hudson Value Partners LLC increased its position in MDU Resources Group by 0.4% in the 1st quarter. Hudson Value Partners LLC now owns 210,808 shares of the utilities provider’s stock valued at $5,312,000 after acquiring an additional 782 shares during the period. Institutional investors and hedge funds own 71.44% of the company’s stock.
MDU Resources Group Stock Performance
Shares of MDU stock opened at $26.15 on Thursday. The stock has a market capitalization of $5.33 billion, a PE ratio of 11.18, a price-to-earnings-growth ratio of 2.70 and a beta of 0.77. MDU Resources Group, Inc. has a 52-week low of $18.04 and a 52-week high of $27.78. The stock’s 50-day moving average price is $25.57 and its 200 day moving average price is $24.87. The company has a quick ratio of 1.15, a current ratio of 1.22 and a debt-to-equity ratio of 0.73.
MDU Resources Group Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Thursday, September 12th will be given a dividend of $0.13 per share. This is a boost from MDU Resources Group’s previous quarterly dividend of $0.13. The ex-dividend date is Thursday, September 12th. This represents a $0.52 annualized dividend and a yield of 1.99%. MDU Resources Group’s payout ratio is presently 22.22%.
Analyst Upgrades and Downgrades
Separately, StockNews.com cut MDU Resources Group from a “buy” rating to a “hold” rating in a research report on Friday, July 26th.
Check Out Our Latest Stock Report on MDU Resources Group
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.
Further Reading
- Five stocks we like better than MDU Resources Group
- The Significance of a Trillion-Dollar Market Cap Goes Beyond a Number
- How Much Can You Make in Stocks in One Month?
- When to Sell a Stock for Profit or Loss
- This Is the Top Large-Cap Stock Insiders Are Buying
- 3 Healthcare Dividend Stocks to Buy
- Capitalize on Micron’s 24% Drop—Wall Street Eyes Major Upside
Want to see what other hedge funds are holding MDU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MDU Resources Group, Inc. (NYSE:MDU – Free Report).
Receive News & Ratings for MDU Resources Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MDU Resources Group and related companies with MarketBeat.com's FREE daily email newsletter.