MDU Resources Group, Inc. (NYSE:MDU) Shares Purchased by Arizona State Retirement System

Arizona State Retirement System boosted its position in MDU Resources Group, Inc. (NYSE:MDU) by 1.9% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 54,173 shares of the utilities provider’s stock after acquiring an additional 1,010 shares during the quarter. Arizona State Retirement System’s holdings in MDU Resources Group were worth $1,360,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Private Advisor Group LLC raised its stake in shares of MDU Resources Group by 10.0% in the 4th quarter. Private Advisor Group LLC now owns 53,025 shares of the utilities provider’s stock valued at $1,050,000 after purchasing an additional 4,822 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of MDU Resources Group by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,918,944 shares of the utilities provider’s stock valued at $37,995,000 after purchasing an additional 55,169 shares in the last quarter. Teacher Retirement System of Texas raised its stake in shares of MDU Resources Group by 7.2% in the 4th quarter. Teacher Retirement System of Texas now owns 106,236 shares of the utilities provider’s stock valued at $2,103,000 after purchasing an additional 7,137 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of MDU Resources Group by 155.7% in the 4th quarter. BNP Paribas Financial Markets now owns 107,011 shares of the utilities provider’s stock valued at $2,119,000 after purchasing an additional 65,161 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of MDU Resources Group by 16.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,181,092 shares of the utilities provider’s stock valued at $122,386,000 after purchasing an additional 858,100 shares in the last quarter. Institutional investors and hedge funds own 71.44% of the company’s stock.

MDU Resources Group Price Performance

NYSE MDU opened at $25.58 on Friday. MDU Resources Group, Inc. has a 52 week low of $18.04 and a 52 week high of $27.30. The company has a current ratio of 1.22, a quick ratio of 1.15 and a debt-to-equity ratio of 0.73. The stock has a market cap of $5.21 billion, a price-to-earnings ratio of 10.93, a price-to-earnings-growth ratio of 2.66 and a beta of 0.77. The company has a 50-day moving average price of $25.40 and a two-hundred day moving average price of $24.70.

MDU Resources Group (NYSE:MDU) last posted its earnings results on Thursday, August 8th. The utilities provider reported $0.32 EPS for the quarter, topping the consensus estimate of $0.21 by $0.11. MDU Resources Group had a net margin of 9.25% and a return on equity of 11.29%. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the prior year, the firm earned $0.29 EPS. MDU Resources Group’s quarterly revenue was down 4.0% on a year-over-year basis. Analysts forecast that MDU Resources Group, Inc. will post 1.55 EPS for the current year.

MDU Resources Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Thursday, September 12th will be given a $0.13 dividend. This is a boost from MDU Resources Group’s previous quarterly dividend of $0.13. The ex-dividend date is Thursday, September 12th. This represents a $0.52 annualized dividend and a yield of 2.03%. MDU Resources Group’s dividend payout ratio is 22.22%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. StockNews.com lowered shares of MDU Resources Group from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. Argus raised shares of MDU Resources Group from a “hold” rating to a “buy” rating and set a $30.00 price objective for the company in a research report on Monday, May 20th.

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 four segments: Electric, Natural Gas Distribution, Pipeline, 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 82 transmission and 298 distribution substations.