MDU Resources Group, Inc. (NYSE:MDU) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans decreased its holdings in shares of MDU Resources Group, Inc. (NYSE:MDU) by 3.4% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 49,633 shares of the utilities provider’s stock after selling 1,768 shares during the period. Thrivent Financial for Lutherans’ holdings in MDU Resources Group were worth $1,246,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in MDU. American Century Companies Inc. lifted 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 purchasing an additional 977,487 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in MDU Resources Group by 8.1% in 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 period. Victory Capital Management Inc. boosted 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 acquiring an additional 462,278 shares during the period. Jupiter Asset Management Ltd. purchased a new stake in shares of MDU Resources Group during the second quarter valued at approximately $11,105,000. Finally, Bornite Capital Management LP acquired a new position in shares of MDU Resources Group during the first quarter worth $8,820,000. 71.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

MDU Resources Group Trading Up 1.3 %

Shares of MDU opened at $27.25 on Friday. MDU Resources Group, Inc. has a one year low of $18.04 and a one year high of $27.92. The stock has a 50-day moving average price of $25.83 and a 200 day moving average price of $25.26. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.15 and a current ratio of 1.22. The company has a market capitalization of $5.56 billion, a P/E ratio of 11.65, a P/E/G ratio of 2.62 and a beta of 0.77.

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

MDU Resources Group Increases Dividend

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

About MDU Resources Group

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.