Gabelli Funds LLC Has $3.46 Million Stock Position in MDU Resources Group, Inc. (NYSE:MDU)

Gabelli Funds LLC cut its holdings in MDU Resources Group, Inc. (NYSE:MDU) by 0.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 138,000 shares of the utilities provider’s stock after selling 1,000 shares during the period. Gabelli Funds LLC owned about 0.07% of MDU Resources Group worth $3,464,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in MDU. State Board of Administration of Florida Retirement System increased its stake in MDU Resources Group by 29.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 280,244 shares of the utilities provider’s stock valued at $7,062,000 after buying an additional 63,403 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in MDU Resources Group by 17.0% during the first quarter. Russell Investments Group Ltd. now owns 401,619 shares of the utilities provider’s stock worth $10,121,000 after acquiring an additional 58,220 shares in the last quarter. Meeder Asset Management Inc. boosted its position in MDU Resources Group by 58.2% during the first quarter. Meeder Asset Management Inc. now owns 54,111 shares of the utilities provider’s stock valued at $1,364,000 after purchasing an additional 19,916 shares during the last quarter. SG Americas Securities LLC bought a new position in MDU Resources Group in the second quarter valued at approximately $2,198,000. Finally, First Trust Advisors LP increased its position in shares of MDU Resources Group by 1.8% during the 4th quarter. First Trust Advisors LP now owns 2,561,113 shares of the utilities provider’s stock worth $50,710,000 after purchasing an additional 44,067 shares during the last quarter. Institutional investors own 71.44% of the company’s stock.

MDU Resources Group Price Performance

Shares of NYSE MDU opened at $27.60 on Wednesday. MDU Resources Group, Inc. has a twelve month low of $18.04 and a twelve month high of $27.92. The company has a market cap of $5.63 billion, a PE ratio of 11.79, a price-to-earnings-growth ratio of 2.70 and a beta of 0.77. The business’s 50 day moving average price is $25.71 and its two-hundred day moving average price is $25.03. 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 (NYSE:MDU) last posted its quarterly earnings results on Thursday, August 8th. The utilities provider reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the prior year, the business earned $0.29 EPS. The firm’s revenue for the quarter was down 4.0% on a year-over-year basis. On average, analysts predict that MDU Resources Group, Inc. will post 1.55 EPS for the current year.

MDU Resources Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Thursday, September 12th will be issued a dividend of $0.13 per share. This is an increase 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 dividend yield of 1.88%. MDU Resources Group’s payout ratio is presently 22.22%.

Analysts Set New Price Targets

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

MDU Resources Group 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.