Crossmark Global Holdings Inc. decreased its stake in MDU Resources Group, Inc. (NYSE:MDU – Free Report) by 4.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,450 shares of the utilities provider’s stock after selling 773 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in MDU Resources Group were worth $340,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in shares of MDU Resources Group during the 4th quarter worth $61,385,000. State Street Corp increased its stake in shares of MDU Resources Group by 12.5% during the 1st quarter. State Street Corp now owns 15,468,160 shares of the utilities provider’s stock worth $415,454,000 after purchasing an additional 1,716,930 shares during the last quarter. FMR LLC increased its stake in shares of MDU Resources Group by 32.9% during the 1st quarter. FMR LLC now owns 3,301,805 shares of the utilities provider’s stock worth $100,639,000 after purchasing an additional 817,621 shares during the last quarter. Millennium Management LLC increased its stake in shares of MDU Resources Group by 275.4% during the 4th quarter. Millennium Management LLC now owns 997,934 shares of the utilities provider’s stock worth $30,277,000 after purchasing an additional 732,104 shares during the last quarter. Finally, Invesco Ltd. increased its stake in shares of MDU Resources Group by 55.2% during the 1st quarter. Invesco Ltd. now owns 1,852,604 shares of the utilities provider’s stock worth $49,372,000 after purchasing an additional 659,078 shares during the last quarter. Hedge funds and other institutional investors own 71.24% of the company’s stock.
MDU Resources Group Stock Performance
NYSE:MDU opened at $18.29 on Friday. MDU Resources Group, Inc. has a 1 year low of $18.19 and a 1 year high of $22.55. The firm’s fifty day simple moving average is $19.58 and its 200 day simple moving average is $22.63. The company has a current ratio of 1.37, a quick ratio of 1.31 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $3.72 billion, a PE ratio of 8.59, a PEG ratio of 2.38 and a beta of 0.77.
MDU Resources Group Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Sunday, October 1st. Investors of record on Thursday, September 14th were paid a $0.125 dividend. The ex-dividend date was Wednesday, September 13th. This represents a $0.50 dividend on an annualized basis and a yield of 2.73%. MDU Resources Group’s payout ratio is presently 23.47%.
Analyst Ratings Changes
Separately, StockNews.com assumed coverage on shares of MDU Resources Group in a research note on Thursday, October 5th. They set a “hold” rating on the stock.
Get Our Latest Research Report on MDU Resources Group
MDU Resources Group Company Profile
MDU Resources Group, Inc engages in the regulated energy delivery, and construction materials and services businesses in the United States. It operates through five segments: Electric, Natural Gas Distribution, Pipeline, Construction Materials and Contracting, and Construction Services. The Electric segment generates, transmits, and distributes electricity for residential, commercial, industrial, and municipal customers in Montana, North Dakota, South Dakota, and Wyoming; and operates 3,400 miles of transmission lines, 4,800 miles of distribution lines, and 84 transmission and 294 distribution substations.
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