Clinton Group Inc. Invests $1.51 Million in MDU Resources Group, Inc. (MDU) Stock
Clinton Group Inc. acquired a new position in shares of MDU Resources Group, Inc. (NYSE:MDU) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 57,449 shares of the utilities provider’s stock, valued at approximately $1,505,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. BlackRock Inc. increased its stake in shares of MDU Resources Group by 3,744.8% during the first quarter. BlackRock Inc. now owns 16,186,762 shares of the utilities provider’s stock valued at $443,033,000 after buying an additional 15,765,763 shares during the period. Vanguard Group Inc. lifted its stake in MDU Resources Group by 17.7% in the first quarter. Vanguard Group Inc. now owns 22,988,073 shares of the utilities provider’s stock worth $629,183,000 after acquiring an additional 3,465,196 shares during the period. Copper Rock Capital Partners LLC purchased a new stake in MDU Resources Group in the second quarter worth about $24,866,000. Citadel Advisors LLC lifted its stake in MDU Resources Group by 2,417.7% in the first quarter. Citadel Advisors LLC now owns 711,589 shares of the utilities provider’s stock worth $19,476,000 after acquiring an additional 683,325 shares during the period. Finally, First Trust Advisors LP lifted its stake in MDU Resources Group by 55.7% in the second quarter. First Trust Advisors LP now owns 1,162,242 shares of the utilities provider’s stock worth $30,451,000 after acquiring an additional 415,563 shares during the period. 63.55% of the stock is owned by institutional investors and hedge funds.
Shares of MDU Resources Group, Inc. (NYSE:MDU) traded down 0.34% during midday trading on Wednesday, reaching $26.56. The company’s stock had a trading volume of 28,909 shares. The stock’s 50-day moving average price is $26.56 and its 200-day moving average price is $26.60. The company has a market cap of $5.19 billion, a P/E ratio of 23.10 and a beta of 0.91. MDU Resources Group, Inc. has a 12-month low of $24.51 and a 12-month high of $29.92.
MDU Resources Group (NYSE:MDU) last released its quarterly earnings data on Tuesday, August 1st. The utilities provider reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.03). MDU Resources Group had a net margin of 5.37% and a return on equity of 10.24%. The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the previous year, the company posted $0.24 EPS. The company’s revenue was up 2.3% compared to the same quarter last year. On average, analysts expect that MDU Resources Group, Inc. will post $1.21 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Sunday, October 1st. Investors of record on Thursday, September 14th were issued a $0.1925 dividend. This represents a $0.77 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date was Wednesday, September 13th. MDU Resources Group’s dividend payout ratio (DPR) is 66.96%.
Several brokerages have recently weighed in on MDU. BidaskClub raised shares of MDU Resources Group from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Zacks Investment Research upgraded shares of MDU Resources Group from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th. Finally, KeyCorp reaffirmed a “buy” rating and issued a $28.00 price objective on shares of MDU Resources Group in a research report on Friday, September 1st. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $31.25.
In related news, CEO David L. Goodin purchased 5,000 shares of the company’s stock in a transaction on Friday, August 11th. The shares were bought at an average cost of $25.57 per share, for a total transaction of $127,850.00. Following the completion of the purchase, the chief executive officer now directly owns 95,210 shares of the company’s stock, valued at approximately $2,434,519.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.95% of the company’s stock.
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MDU Resources Group Profile
MDU Resources Group, Inc is engaged in regulated energy delivery and construction materials and services business. The Company’s businesses segments are electric, natural gas distribution, pipeline and midstream, construction materials and contracting, and construction services. The electric segment generates, transmits and distributes electricity.
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