Sumitomo Mitsui Trust Holdings Inc. Buys Shares of 7,111 Mdu Resources Group Inc (NYSE:MDU)

Sumitomo Mitsui Trust Holdings Inc. bought a new stake in Mdu Resources Group Inc (NYSE:MDU) during the third quarter, HoldingsChannel.com reports. The firm bought 7,111 shares of the utilities provider’s stock, valued at approximately $200,000.

Other hedge funds have also modified their holdings of the company. 6 Meridian lifted its stake in shares of Mdu Resources Group by 2.2% in the 2nd quarter. 6 Meridian now owns 19,794 shares of the utilities provider’s stock valued at $511,000 after acquiring an additional 430 shares during the last quarter. Stephens Inc. AR lifted its stake in shares of Mdu Resources Group by 4.4% in the 2nd quarter. Stephens Inc. AR now owns 10,248 shares of the utilities provider’s stock valued at $264,000 after acquiring an additional 434 shares during the last quarter. Patten Group Inc. lifted its stake in shares of Mdu Resources Group by 1.0% in the 2nd quarter. Patten Group Inc. now owns 45,898 shares of the utilities provider’s stock valued at $1,184,000 after acquiring an additional 475 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its stake in shares of Mdu Resources Group by 1.5% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 36,250 shares of the utilities provider’s stock valued at $935,000 after acquiring an additional 520 shares during the last quarter. Finally, Magnetar Financial LLC lifted its stake in shares of Mdu Resources Group by 10.8% in the 2nd quarter. Magnetar Financial LLC now owns 8,710 shares of the utilities provider’s stock valued at $225,000 after acquiring an additional 849 shares during the last quarter. 68.07% of the stock is currently owned by hedge funds and other institutional investors.

Separately, Williams Capital increased their price target on Mdu Resources Group from $31.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, September 16th.

Shares of MDU opened at $28.99 on Friday. Mdu Resources Group Inc has a 52 week low of $22.73 and a 52 week high of $29.46. The stock has a market capitalization of $5.80 billion, a price-to-earnings ratio of 21.01, a PEG ratio of 2.72 and a beta of 0.65. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.14 and a current ratio of 1.41. The stock has a fifty day moving average of $28.23 and a 200-day moving average of $26.73.

Mdu Resources Group (NYSE:MDU) last announced its quarterly earnings results on Wednesday, October 30th. The utilities provider reported $0.69 EPS for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.08. Mdu Resources Group had a return on equity of 11.90% and a net margin of 6.17%. The company had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the prior year, the company earned $0.55 EPS. Mdu Resources Group’s revenue was up 22.1% compared to the same quarter last year. As a group, equities analysts forecast that Mdu Resources Group Inc will post 1.5 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Thursday, December 12th will be paid a $0.2075 dividend. This represents a $0.83 dividend on an annualized basis and a dividend yield of 2.86%. This is a boost from Mdu Resources Group’s previous quarterly dividend of $0.20. Mdu Resources Group’s dividend payout ratio is presently 58.70%.

Mdu Resources Group Profile

MDU Resources Group, Inc engages in regulated energy delivery, and construction materials and services businesses in the United States. It operates through five segments: Electric, Natural Gas Distribution, Pipeline and Midstream, Construction Materials and Contracting, and Construction Services. The Electric segment generates, transmits, and distributes electricity in Montana, North Dakota, South Dakota, and Wyoming.

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Institutional Ownership by Quarter for Mdu Resources Group (NYSE:MDU)

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