Charles Schwab Investment Management Inc. increased its stake in MDU Resources Group, Inc. (NYSE:MDU - Free Report) by 6.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,329,538 shares of the utilities provider's stock after acquiring an additional 150,181 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.14% of MDU Resources Group worth $39,392,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in MDU. Bessemer Group Inc. lifted its stake in shares of MDU Resources Group by 179.0% in the first quarter. Bessemer Group Inc. now owns 1,518 shares of the utilities provider's stock worth $25,000 after acquiring an additional 974 shares during the period. GAMMA Investing LLC lifted its stake in shares of MDU Resources Group by 241.9% in the first quarter. GAMMA Investing LLC now owns 1,843 shares of the utilities provider's stock worth $31,000 after acquiring an additional 1,304 shares during the period. Johnson Financial Group Inc. acquired a new position in MDU Resources Group in the fourth quarter valued at approximately $54,000. Wood Tarver Financial Group LLC acquired a new position in MDU Resources Group in the fourth quarter valued at approximately $82,000. Finally, Garde Capital Inc. acquired a new position in MDU Resources Group in the first quarter valued at approximately $82,000. 71.44% of the stock is owned by institutional investors and hedge funds.
MDU Resources Group Price Performance
Shares of MDU opened at $16.45 on Monday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.71 and a current ratio of 0.74. MDU Resources Group, Inc. has a 52-week low of $14.91 and a 52-week high of $30.52. The business's 50 day moving average price is $16.72 and its two-hundred day moving average price is $16.84. The firm has a market cap of $3.36 billion, a PE ratio of 15.52, a price-to-earnings-growth ratio of 2.61 and a beta of 0.73.
MDU Resources Group (NYSE:MDU - Get Free Report) last issued its earnings results on Thursday, August 7th. The utilities provider reported $0.07 earnings per share for the quarter, missing analysts' consensus estimates of $0.13 by ($0.06). MDU Resources Group had a return on equity of 8.29% and a net margin of 8.25%. The firm had revenue of $351.20 million for the quarter, compared to analyst estimates of $315.67 million. During the same period in the previous year, the company earned $0.32 earnings per share. MDU Resources Group's revenue for the quarter was up 1.9% compared to the same quarter last year. On average, equities analysts anticipate that MDU Resources Group, Inc. will post 0.94 EPS for the current year.
MDU Resources Group Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Thursday, September 11th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.4%. This is a positive change from MDU Resources Group's previous quarterly dividend of $0.13. MDU Resources Group's dividend payout ratio is presently 49.06%.
Wall Street Analysts Forecast Growth
Separately, Wall Street Zen lowered MDU Resources Group from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th.
Check Out Our Latest Stock Report on MDU Resources Group
MDU Resources Group Company Profile
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Free Report)
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.
See Also
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