Algert Global LLC Purchases 231,530 Shares of MDU Resources Group, Inc. (NYSE:MDU)

Algert Global LLC boosted its position in MDU Resources Group, Inc. (NYSE:MDU) by 453.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 282,573 shares of the utilities provider’s stock after acquiring an additional 231,530 shares during the quarter. Algert Global LLC owned 0.14% of MDU Resources Group worth $7,745,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake 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 acquiring an additional 563,424 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its stake in MDU Resources Group by 40.9% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,048,344 shares of the utilities provider’s stock valued at $151,813,000 after acquiring an additional 1,756,530 shares during the last quarter. American Century Companies Inc. increased its stake in MDU Resources Group by 30.7% in the second quarter. American Century Companies Inc. now owns 4,158,224 shares of the utilities provider’s stock valued at $104,371,000 after acquiring an additional 977,487 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in MDU Resources Group by 5.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,082,468 shares of the utilities provider’s stock valued at $57,080,000 after acquiring an additional 101,955 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in MDU Resources Group by 1.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,782,538 shares of the utilities provider’s stock valued at $48,859,000 after acquiring an additional 33,982 shares during the last quarter. Institutional investors own 71.44% of the company’s stock.

MDU Resources Group Stock Up 3.4 %

Shares of NYSE:MDU opened at $19.94 on Friday. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $4.07 billion, a P/E ratio of 10.23, a price-to-earnings-growth ratio of 2.49 and a beta of 0.76. MDU Resources Group, Inc. has a 12-month low of $14.91 and a 12-month high of $30.52. The stock’s 50-day moving average price is $24.81 and its 200-day moving average price is $25.12.

MDU Resources Group (NYSE:MDU) last posted its earnings results on Thursday, November 7th. The utilities provider reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.01. The company had revenue of $1.05 billion for 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%. MDU Resources Group’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period last year, the firm earned $0.29 earnings per share. On average, equities analysts anticipate that MDU Resources Group, Inc. will post 1.13 earnings per share for the current year.

MDU Resources Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Thursday, December 12th will be paid a $0.13 dividend. The ex-dividend date is Thursday, December 12th. This represents a $0.52 annualized dividend and a dividend yield of 2.61%. MDU Resources Group’s payout ratio is presently 26.67%.

Wall Street Analyst Weigh In

MDU has been the topic of a number of recent research reports. Bank of America raised MDU Resources Group from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $31.00 to $17.00 in a research note on Tuesday, November 5th. Siebert Williams Shank raised MDU Resources Group from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a research note on Monday, November 4th. Finally, StockNews.com initiated coverage on MDU Resources Group in a research note on Tuesday, November 5th. They set a “hold” rating on the stock.

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.