Shell Asset Management Co. reduced its position in shares of MDU Resources Group, Inc. (NYSE:MDU – Get Rating) by 17.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,060 shares of the utilities provider’s stock after selling 3,519 shares during the period. Shell Asset Management Co.’s holdings in MDU Resources Group were worth $518,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in the company. U.S. Capital Wealth Advisors LLC acquired a new position in MDU Resources Group during the 4th quarter worth approximately $27,000. Ronald Blue Trust Inc. grew its holdings in MDU Resources Group by 554.5% during the fourth quarter. Ronald Blue Trust Inc. now owns 1,368 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 1,159 shares during the period. Global Wealth Strategies & Associates purchased a new position in MDU Resources Group in the fourth quarter worth $42,000. Allworth Financial LP lifted its holdings in MDU Resources Group by 4,409.7% in the fourth quarter. Allworth Financial LP now owns 1,398 shares of the utilities provider’s stock valued at $42,000 after acquiring an additional 1,367 shares during the period. Finally, McElhenny Sheffield Capital Management LLC purchased a new stake in shares of MDU Resources Group during the 4th quarter worth $58,000. Institutional investors and hedge funds own 70.83% of the company’s stock.
Wall Street Analysts Forecast Growth
Separately, StockNews.com upgraded shares of MDU Resources Group from a “hold” rating to a “buy” rating in a research note on Tuesday, March 14th.
MDU Resources Group Price Performance
MDU Resources Group (NYSE:MDU – Get Rating) last posted its earnings results on Thursday, February 9th. The utilities provider reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.10. MDU Resources Group had a return on equity of 10.99% and a net margin of 5.27%. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the previous year, the business earned $0.42 earnings per share. MDU Resources Group’s quarterly revenue was up 28.8% compared to the same quarter last year. As a group, equities analysts forecast that MDU Resources Group, Inc. will post 2 earnings per share for the current fiscal year.
MDU Resources Group Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Saturday, July 1st. Shareholders of record on Tuesday, June 13th will be issued a dividend of $0.2225 per share. This represents a $0.89 annualized dividend and a yield of 3.13%. MDU Resources Group’s dividend payout ratio (DPR) is currently 49.17%.
MDU Resources Group Profile
MDU Resources Group, Inc engages in the provision of natural resource products and related services to energy and transportation infrastructure. It operates through the following business segments: Electric, Natural Gas Distribution, Pipeline and Midstream, Construction Materials and Contracting, Construction Services, and Other.
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