MDU Resources Group, Inc. (NYSE:MDU) Holdings Decreased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank cut its position in shares of MDU Resources Group, Inc. (NYSE:MDU) by 4.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 47,424 shares of the utilities provider’s stock after selling 2,384 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in MDU Resources Group were worth $1,300,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its holdings in shares of MDU Resources Group by 8.1% during the second quarter. Dimensional Fund Advisors LP now owns 7,491,990 shares of the utilities provider’s stock worth $188,049,000 after purchasing an additional 563,424 shares during the period. Barrow Hanley Mewhinney & Strauss LLC raised 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 acquiring an additional 1,756,530 shares during the period. American Century Companies Inc. lifted its holdings 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 worth $104,371,000 after acquiring an additional 977,487 shares during the last quarter. Charles Schwab Investment Management Inc. boosted 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 period. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of MDU Resources Group by 1.9% during 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 purchasing an additional 33,982 shares during the last quarter. Institutional investors and hedge funds own 71.44% of the company’s stock.

MDU Resources Group Stock Performance

Shares of NYSE MDU opened at $19.47 on Friday. MDU Resources Group, Inc. has a 12-month low of $14.91 and a 12-month high of $30.52. The company has a market cap of $3.97 billion, a PE ratio of 9.98, a P/E/G ratio of 2.57 and a beta of 0.79. The stock has a 50 day simple moving average of $23.52 and a 200-day simple moving average of $24.78. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.73.

MDU Resources Group (NYSE:MDU) last announced its quarterly earnings results on Thursday, November 7th. The utilities provider reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $969.17 million. MDU Resources Group had a return on equity of 11.24% and a net margin of 8.92%. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.29 EPS. On average, equities research analysts forecast that MDU Resources Group, Inc. will post 1.13 EPS for the current year.

MDU Resources Group Dividend Announcement

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

Wall Street Analyst Weigh In

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

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.