Parametric Portfolio Associates LLC Reduces Position in MDU Resources Group Inc (MDU)
Parametric Portfolio Associates LLC reduced its holdings in MDU Resources Group Inc (NYSE:MDU) by 3.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 483,957 shares of the utilities provider’s stock after selling 17,381 shares during the quarter. Parametric Portfolio Associates LLC owned 0.25% of MDU Resources Group worth $12,559,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of MDU Resources Group by 8.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,671 shares of the utilities provider’s stock worth $175,000 after purchasing an additional 537 shares in the last quarter. Ffcm LLC raised its holdings in shares of MDU Resources Group by 5.7% during the second quarter. Ffcm LLC now owns 7,360 shares of the utilities provider’s stock valued at $193,000 after acquiring an additional 396 shares during the period. Sei Investments Co. raised its holdings in shares of MDU Resources Group by 47.4% during the third quarter. Sei Investments Co. now owns 7,509 shares of the utilities provider’s stock valued at $195,000 after acquiring an additional 2,414 shares during the period. Gs Investments Inc. acquired a new stake in shares of MDU Resources Group during the second quarter valued at approximately $200,000. Finally, Eqis Capital Management Inc. acquired a new stake in shares of MDU Resources Group during the third quarter valued at approximately $203,000. Institutional investors and hedge funds own 63.54% of the company’s stock.
Shares of MDU Resources Group Inc (MDU) opened at $26.88 on Tuesday. MDU Resources Group Inc has a 1-year low of $25.14 and a 1-year high of $29.74. The company has a current ratio of 1.28, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68. The stock has a market cap of $5,249.78, a P/E ratio of 22.78, a PEG ratio of 2.82 and a beta of 0.92.
MDU Resources Group (NYSE:MDU) last released its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $0.46 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.03). MDU Resources Group had a net margin of 5.39% and a return on equity of 10.20%. The firm had revenue of $1.27 billion for the quarter. During the same quarter in the prior year, the company earned $0.45 EPS. analysts forecast that MDU Resources Group Inc will post 1.19 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, January 1st. Stockholders of record on Thursday, December 14th were issued a dividend of $0.1975 per share. The ex-dividend date was Wednesday, December 13th. This represents a $0.79 dividend on an annualized basis and a dividend yield of 2.94%. This is a positive change from MDU Resources Group’s previous quarterly dividend of $0.19. MDU Resources Group’s payout ratio is currently 66.95%.
A number of equities research analysts have recently issued reports on MDU shares. KeyCorp restated a “buy” rating and set a $28.00 price target on shares of MDU Resources Group in a report on Friday, October 20th. Zacks Investment Research upgraded shares of MDU Resources Group from a “sell” rating to a “hold” rating in a report on Tuesday, September 26th.
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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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