Hermes Investment Management Ltd. Purchases 23,791 Shares of MDU Resources Group Inc (MDU)
Hermes Investment Management Ltd. boosted its position in shares of MDU Resources Group Inc (NYSE:MDU) by 1.5% during the first quarter, Holdings Channel reports. The fund owned 1,653,837 shares of the utilities provider’s stock after buying an additional 23,791 shares during the period. Hermes Investment Management Ltd. owned approximately 0.85% of MDU Resources Group worth $45,266,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Bank of The West increased its position in MDU Resources Group by 0.3% in the first quarter. Bank of The West now owns 8,059 shares of the utilities provider’s stock worth $221,000 after buying an additional 23 shares during the period. Advantus Capital Management Inc increased its position in MDU Resources Group by 0.5% in the third quarter. Advantus Capital Management Inc now owns 23,770 shares of the utilities provider’s stock worth $605,000 after buying an additional 117 shares during the period. Mosaic Family Wealth LLC increased its position in MDU Resources Group by 6.0% in the third quarter. Mosaic Family Wealth LLC now owns 7,051 shares of the utilities provider’s stock worth $179,000 after buying an additional 402 shares during the period. LS Investment Advisors LLC increased its position in MDU Resources Group by 7.3% in the third quarter. LS Investment Advisors LLC now owns 13,046 shares of the utilities provider’s stock worth $332,000 after buying an additional 892 shares during the period. Finally, Louisiana State Employees Retirement System increased its position in MDU Resources Group by 2.1% in the first quarter. Louisiana State Employees Retirement System now owns 49,300 shares of the utilities provider’s stock worth $1,349,000 after buying an additional 1,000 shares during the period. Hedge funds and other institutional investors own 64.71% of the company’s stock.
MDU Resources Group Inc (NYSE:MDU) traded up 0.464% during mid-day trading on Friday, hitting $27.065. The company’s stock had a trading volume of 547,376 shares. The firm has a 50 day moving average of $27.07 and a 200-day moving average of $27.33. The firm has a market cap of $5.29 billion, a price-to-earnings ratio of 82.515 and a beta of 0.87. MDU Resources Group Inc has a 52-week low of $19.28 and a 52-week high of $29.92.
MDU Resources Group (NYSE:MDU) last posted its quarterly earnings data on Wednesday, February 1st. The utilities provider reported $0.33 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.05. The firm earned $1.02 billion during the quarter, compared to analyst estimates of $1.13 billion. MDU Resources Group had a net margin of 1.54% and a return on equity of 10.11%. The company’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter last year, the business posted $0.25 EPS. On average, equities research analysts expect that MDU Resources Group Inc will post $1.21 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Saturday, April 1st. Shareholders of record on Thursday, March 9th were paid a $0.1925 dividend. The ex-dividend date of this dividend was Tuesday, March 7th. This represents a $0.77 annualized dividend and a yield of 2.86%. MDU Resources Group’s dividend payout ratio (DPR) is 240.63%.
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Several brokerages recently commented on MDU. Zacks Investment Research raised MDU Resources Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 5th. Argus downgraded MDU Resources Group from a “buy” rating to a “hold” rating in a research note on Monday, February 13th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $34.00.
MDU Resources Group Company Profile
MDU Resources Group, Inc is a diversified natural resource company. Montana-Dakota Utilities Co (Montana-Dakota) is a public utility division of the Company. Montana-Dakota, through the electric and natural gas distribution segments, generates, transmits and distributes electricity and distributes natural gas.
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