Zurcher Kantonalbank Zurich Cantonalbank Cuts Position in MDU Resources Group, Inc. (NYSE:MDU)

Zurcher Kantonalbank Zurich Cantonalbank lowered its position in shares of MDU Resources Group, Inc. (NYSE:MDU) by 4.8% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 47,424 shares of the utilities provider’s stock after selling 2,384 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in MDU Resources Group were worth $1,300,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MDU. Barrow Hanley Mewhinney & Strauss LLC grew its stake in MDU Resources Group by 40.9% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,048,344 shares of the utilities provider’s stock worth $151,813,000 after buying an additional 1,756,530 shares during the period. American Century Companies Inc. boosted its position in MDU Resources Group by 30.7% during the 2nd quarter. American Century Companies Inc. now owns 4,158,224 shares of the utilities provider’s stock worth $104,371,000 after purchasing an additional 977,487 shares during the period. Hood River Capital Management LLC acquired a new stake in MDU Resources Group in the 2nd quarter valued at $24,372,000. Dimensional Fund Advisors LP raised its position in MDU Resources Group by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 7,491,990 shares of the utilities provider’s stock valued at $188,049,000 after purchasing an additional 563,424 shares during the period. Finally, AQR Capital Management LLC lifted its stake in shares of MDU Resources Group by 36.6% during the second quarter. AQR Capital Management LLC now owns 1,745,980 shares of the utilities provider’s stock worth $43,824,000 after purchasing an additional 467,465 shares in the last quarter. Institutional investors and hedge funds own 71.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MDU. Bank of America upgraded MDU Resources Group from a “neutral” rating to a “buy” rating and lowered their target price for the company from $31.00 to $17.00 in a research note on Tuesday, November 5th. StockNews.com started coverage on shares of MDU Resources Group in a research report on Tuesday, November 5th. They issued a “hold” rating for the company. Finally, Siebert Williams Shank raised shares of MDU Resources Group from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research report on Monday, November 4th.

MDU Resources Group Trading Down 1.5 %

Shares of MDU opened at $19.47 on Friday. MDU Resources Group, Inc. has a one year low of $14.91 and a one year high of $30.52. The stock has a 50-day moving average price of $23.52 and a 200 day moving average price of $24.78. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.07 and a current ratio of 1.15. The company has a market capitalization of $3.97 billion, a P/E ratio of 9.98, a P/E/G ratio of 2.57 and a beta of 0.79.

MDU Resources Group (NYSE:MDU) last released its earnings results on Thursday, November 7th. The utilities provider reported $0.32 EPS for the quarter, beating the consensus estimate of $0.31 by $0.01. The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $969.17 million. MDU Resources Group had a return on equity of 11.24% and a net margin of 8.92%. The business’s revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.29 EPS. Sell-side analysts forecast that MDU Resources Group, Inc. will post 1.13 EPS for the current fiscal year.

MDU Resources Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Thursday, December 12th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.67%. The ex-dividend date is Thursday, December 12th. MDU Resources Group’s payout ratio is currently 26.67%.

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.