Hsbc Holdings PLC Makes New Investment in MDU Resources Group, Inc. (NYSE:MDU)

Hsbc Holdings PLC purchased a new stake in MDU Resources Group, Inc. (NYSE:MDU - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 103,531 shares of the utilities provider's stock, valued at approximately $1,865,000. Hsbc Holdings PLC owned about 0.05% of MDU Resources Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Barclays PLC boosted its stake in shares of MDU Resources Group by 7.8% in the third quarter. Barclays PLC now owns 87,022 shares of the utilities provider's stock worth $2,386,000 after buying an additional 6,264 shares during the last quarter. JPMorgan Chase & Co. boosted its position in MDU Resources Group by 32.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 855,493 shares of the utilities provider's stock worth $23,449,000 after purchasing an additional 209,042 shares in the last quarter. Friedenthal Financial acquired a new stake in shares of MDU Resources Group during the 4th quarter worth approximately $778,000. Assenagon Asset Management S.A. grew its stake in shares of MDU Resources Group by 42.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 115,907 shares of the utilities provider's stock worth $2,089,000 after purchasing an additional 34,409 shares during the period. Finally, Hennessy Advisors Inc. increased its holdings in shares of MDU Resources Group by 1,098.5% during the 4th quarter. Hennessy Advisors Inc. now owns 2,155,007 shares of the utilities provider's stock valued at $38,833,000 after purchasing an additional 1,975,200 shares in the last quarter. 71.44% of the stock is owned by hedge funds and other institutional investors.

MDU Resources Group Price Performance

Shares of NYSE:MDU traded down $0.07 during midday trading on Monday, reaching $17.46. 1,193,764 shares of the company's stock traded hands, compared to its average volume of 2,472,910. The company has a fifty day simple moving average of $16.74 and a two-hundred day simple moving average of $18.38. MDU Resources Group, Inc. has a 1 year low of $13.23 and a 1 year high of $20.39. The company has a market cap of $3.57 billion, a P/E ratio of 12.65, a PEG ratio of 2.76 and a beta of 0.72. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.07 and a current ratio of 1.15.

MDU Resources Group (NYSE:MDU - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.03. MDU Resources Group had a net margin of 7.31% and a return on equity of 10.20%. Equities analysts predict that MDU Resources Group, Inc. will post 0.94 EPS for the current fiscal year.

MDU Resources Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Thursday, March 13th were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.98%. MDU Resources Group's payout ratio is currently 37.68%.

Insider Activity

In related news, Director Dennis W. Johnson acquired 30,000 shares of MDU Resources Group stock in a transaction that occurred on Monday, February 10th. The shares were purchased at an average price of $16.64 per share, for a total transaction of $499,200.00. Following the completion of the transaction, the director now owns 180,166 shares in the company, valued at $2,997,962.24. This represents a 19.98 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.94% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. StockNews.com lowered shares of MDU Resources Group from a "hold" rating to a "sell" rating in a research report on Thursday, February 20th. Jefferies Financial Group initiated coverage on MDU Resources Group in a research report on Wednesday, January 8th. They set a "hold" rating and a $18.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $21.00.

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.