MDU Resources Group, Inc. (NYSE:MDU) Position Cut by Federated Hermes Inc.

Federated Hermes Inc. reduced its holdings in MDU Resources Group, Inc. (NYSE:MDU) by 14.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,351 shares of the utilities provider’s stock after selling 3,417 shares during the quarter. Federated Hermes Inc.’s holdings in MDU Resources Group were worth $511,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in MDU. Atlas Capital Advisors LLC acquired a new position in shares of MDU Resources Group during the second quarter valued at $27,000. TFO Wealth Partners LLC increased its stake in MDU Resources Group by 16,070.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,617 shares of the utilities provider’s stock valued at $32,000 after buying an additional 1,607 shares during the period. Tompkins Financial Corp raised its position in shares of MDU Resources Group by 22.2% during the 1st quarter. Tompkins Financial Corp now owns 4,404 shares of the utilities provider’s stock worth $111,000 after buying an additional 800 shares in the last quarter. Mendota Financial Group LLC lifted its stake in shares of MDU Resources Group by 32.9% in the 1st quarter. Mendota Financial Group LLC now owns 5,920 shares of the utilities provider’s stock worth $149,000 after acquiring an additional 1,465 shares during the period. Finally, IVC Wealth Advisors LLC bought a new position in shares of MDU Resources Group in the first quarter valued at approximately $202,000. Institutional investors and hedge funds own 71.44% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com cut MDU Resources Group from a “buy” rating to a “hold” rating in a report on Friday, July 26th.

MDU Resources Group Trading Up 1.5 %

Shares of MDU stock opened at $27.68 on Tuesday. The company has a quick ratio of 1.15, a current ratio of 1.22 and a debt-to-equity ratio of 0.73. The stock has a 50-day simple moving average of $25.68 and a 200 day simple moving average of $25.00. MDU Resources Group, Inc. has a fifty-two week low of $18.04 and a fifty-two week high of $27.92. The stock has a market capitalization of $5.64 billion, a P/E ratio of 11.83, a P/E/G ratio of 2.70 and a beta of 0.77.

MDU Resources Group (NYSE:MDU) last announced its quarterly earnings data on Thursday, August 8th. The utilities provider reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.11. The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.06 billion. MDU Resources Group had a net margin of 9.25% and a return on equity of 11.29%. The business’s revenue was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.29 EPS. On average, sell-side analysts expect that MDU Resources Group, Inc. will post 1.55 earnings per share for the current fiscal year.

MDU Resources Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Thursday, September 12th will be paid a dividend of $0.13 per share. The ex-dividend date is Thursday, September 12th. This is a positive change from MDU Resources Group’s previous quarterly dividend of $0.13. This represents a $0.52 annualized dividend and a dividend yield of 1.88%. MDU Resources Group’s dividend payout ratio (DPR) is currently 22.22%.

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.