Mosaic Family Wealth LLC Raises Position in MDU Resources Group, Inc. (MDU)
Mosaic Family Wealth LLC increased its stake in shares of MDU Resources Group, Inc. (NYSE:MDU) by 5.7% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 6,972 shares of the utilities provider’s stock after buying an additional 374 shares during the period. Mosaic Family Wealth LLC’s holdings in MDU Resources Group were worth $183,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Creative Planning boosted its position in MDU Resources Group by 46.8% in the first quarter. Creative Planning now owns 11,284 shares of the utilities provider’s stock valued at $309,000 after buying an additional 3,599 shares in the last quarter. Rational Advisors LLC bought a new position in MDU Resources Group during the first quarter valued at about $1,396,000. ProShare Advisors LLC boosted its position in MDU Resources Group by 19.5% in the first quarter. ProShare Advisors LLC now owns 331,817 shares of the utilities provider’s stock valued at $9,082,000 after buying an additional 54,216 shares in the last quarter. American International Group Inc. boosted its position in MDU Resources Group by 3.6% in the first quarter. American International Group Inc. now owns 390,430 shares of the utilities provider’s stock valued at $10,686,000 after buying an additional 13,533 shares in the last quarter. Finally, Capstone Asset Management Co. boosted its position in MDU Resources Group by 13.0% in the first quarter. Capstone Asset Management Co. now owns 22,364 shares of the utilities provider’s stock valued at $612,000 after buying an additional 2,580 shares in the last quarter. 62.93% of the stock is currently owned by institutional investors.
MDU Resources Group, Inc. (MDU) opened at 25.82 on Tuesday. The company has a market cap of $5.04 billion, a PE ratio of 22.45 and a beta of 0.91. MDU Resources Group, Inc. has a 12-month low of $23.06 and a 12-month high of $29.92. The firm has a 50 day moving average price of $25.89 and a 200 day moving average price of $26.61.
MDU Resources Group (NYSE:MDU) last announced its quarterly earnings data on Tuesday, August 1st. The utilities provider reported $0.22 earnings per share (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 the consensus estimate of $1.10 billion. During the same period in the previous year, the business posted $0.24 earnings per share. MDU Resources Group’s revenue was up 2.3% compared to the same quarter last year. On average, analysts anticipate that MDU Resources Group, Inc. will post $1.21 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Thursday, September 14th will be paid a $0.1925 dividend. The ex-dividend date is Wednesday, September 13th. This represents a $0.77 dividend on an annualized basis and a yield of 2.98%. MDU Resources Group’s payout ratio is presently 66.96%.
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MDU has been the topic of several research reports. BidaskClub raised MDU Resources Group from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Zacks Investment Research cut MDU Resources Group from a “hold” rating to a “sell” rating in a report on Saturday, May 13th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $32.33.
In other MDU Resources Group news, CEO David L. Goodin acquired 5,000 shares of MDU Resources Group stock in a transaction on Friday, August 11th. The shares were purchased at an average cost of $25.57 per share, with a total value of $127,850.00. Following the completion of the purchase, the chief executive officer now owns 95,210 shares in the company, valued at $2,434,519.70. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.95% of the stock is currently owned by company insiders.
About MDU Resources Group
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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