Swiss National Bank Reduces Stake in MDU Resources Group, Inc. (NYSE:MDU)

Swiss National Bank trimmed its position in shares of MDU Resources Group, Inc. (NYSE:MDU) by 0.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 377,990 shares of the utilities provider’s stock after selling 3,300 shares during the quarter. Swiss National Bank owned approximately 0.19% of MDU Resources Group worth $10,361,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Natixis Advisors LLC grew its stake in MDU Resources Group by 7.6% in the 3rd quarter. Natixis Advisors LLC now owns 41,657 shares of the utilities provider’s stock valued at $1,142,000 after acquiring an additional 2,931 shares during the last quarter. ING Groep NV lifted its holdings in shares of MDU Resources Group by 51.2% in the third quarter. ING Groep NV now owns 257,000 shares of the utilities provider’s stock valued at $7,044,000 after purchasing an additional 87,000 shares in the last quarter. KBC Group NV grew its position in shares of MDU Resources Group by 22.0% in the third quarter. KBC Group NV now owns 5,519 shares of the utilities provider’s stock valued at $151,000 after purchasing an additional 997 shares during the last quarter. MQS Management LLC purchased a new position in shares of MDU Resources Group during the 3rd quarter worth approximately $550,000. Finally, GSA Capital Partners LLP acquired a new position in shares of MDU Resources Group during the 3rd quarter worth approximately $2,039,000. Hedge funds and other institutional investors own 71.44% of the company’s stock.

MDU Resources Group Price Performance

MDU stock opened at $19.94 on Monday. The stock has a market capitalization of $4.07 billion, a price-to-earnings ratio of 10.23, a price-to-earnings-growth ratio of 2.49 and a beta of 0.76. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.73. MDU Resources Group, Inc. has a 52-week low of $14.91 and a 52-week high of $30.52. The stock’s fifty day simple moving average is $24.81 and its 200-day simple moving average is $25.11.

MDU Resources Group (NYSE:MDU) last posted its quarterly 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 firm’s revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.29 EPS. Equities research analysts expect that MDU Resources Group, Inc. will post 1.13 EPS for the current year.

MDU Resources Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Thursday, December 12th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.61%. MDU Resources Group’s dividend payout ratio (DPR) is presently 26.67%.

Wall Street Analyst Weigh In

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