Hood River Capital Management LLC Acquires New Holdings in MDU Resources Group, Inc. (NYSE:MDU)

Hood River Capital Management LLC bought a new position in shares of MDU Resources Group, Inc. (NYSE:MDU) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 970,983 shares of the utilities provider’s stock, valued at approximately $24,372,000. Hood River Capital Management LLC owned about 0.48% of MDU Resources Group at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MDU. Atlas Capital Advisors LLC bought a new stake in shares of MDU Resources Group in the second quarter worth $27,000. TFO Wealth Partners LLC grew its position in shares of MDU Resources Group by 16,070.0% in 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 last quarter. Tompkins Financial Corp grew its position in shares of MDU Resources Group by 22.2% in the 1st quarter. Tompkins Financial Corp now owns 4,404 shares of the utilities provider’s stock valued at $111,000 after buying an additional 800 shares during the last quarter. Mendota Financial Group LLC increased its stake in shares of MDU Resources Group by 32.9% in the first quarter. Mendota Financial Group LLC now owns 5,920 shares of the utilities provider’s stock valued at $149,000 after buying an additional 1,465 shares during the period. Finally, Jones Financial Companies Lllp raised its position in shares of MDU Resources Group by 129.3% during the fourth quarter. Jones Financial Companies Lllp now owns 8,977 shares of the utilities provider’s stock worth $178,000 after acquiring an additional 5,062 shares during the last quarter. 71.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

MDU Resources Group Price Performance

Shares of NYSE MDU opened at $27.28 on Monday. The company has a market capitalization of $5.56 billion, a PE ratio of 11.66, a P/E/G ratio of 2.70 and a beta of 0.77. The company has a quick ratio of 1.15, a current ratio of 1.22 and a debt-to-equity ratio of 0.73. MDU Resources Group, Inc. has a twelve month low of $18.04 and a twelve month high of $27.78. The firm has a fifty day simple moving average of $25.64 and a 200 day simple moving average of $24.96.

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

MDU Resources Group Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Thursday, September 12th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.91%. This is a boost from MDU Resources Group’s previous quarterly dividend of $0.13. The ex-dividend date is Thursday, September 12th. MDU Resources Group’s dividend payout ratio is presently 22.22%.

About MDU Resources Group

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.