Allspring Global Investments Holdings LLC Acquires 331,481 Shares of MDU Resources Group, Inc. (NYSE:MDU)

Allspring Global Investments Holdings LLC raised its holdings in shares of MDU Resources Group, Inc. (NYSE:MDU) by 18.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,114,019 shares of the utilities provider’s stock after acquiring an additional 331,481 shares during the quarter. Allspring Global Investments Holdings LLC owned about 1.04% of MDU Resources Group worth $37,926,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in MDU. V Square Quantitative Management LLC purchased a new stake in MDU Resources Group during the 3rd quarter worth about $25,000. Venturi Wealth Management LLC increased its position in shares of MDU Resources Group by 158.9% during the third quarter. Venturi Wealth Management LLC now owns 1,196 shares of the utilities provider’s stock valued at $33,000 after buying an additional 734 shares during the period. Crews Bank & Trust purchased a new stake in shares of MDU Resources Group in the fourth quarter worth about $39,000. Capital Performance Advisors LLP bought a new position in shares of MDU Resources Group in the third quarter valued at approximately $40,000. Finally, Blue Trust Inc. grew its stake in MDU Resources Group by 19.4% during the fourth quarter. Blue Trust Inc. now owns 3,505 shares of the utilities provider’s stock valued at $63,000 after acquiring an additional 570 shares in the last quarter. Hedge funds and other institutional investors own 71.44% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on MDU. StockNews.com cut shares of MDU Resources Group from a “hold” rating to a “sell” rating in a research note on Friday, February 7th. Jefferies Financial Group began coverage on MDU Resources Group in a research report on Wednesday, January 8th. They issued a “hold” rating and a $18.00 price objective 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 for the company in a research report on Monday, November 4th. Finally, Bank of America upgraded MDU Resources Group from a “neutral” rating to a “buy” rating and dropped their price target for the company from $31.00 to $17.00 in a research report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $21.00.

Insider Transactions at MDU Resources Group

In related news, Director Dennis W. Johnson acquired 30,000 shares of MDU Resources Group stock in a transaction dated Monday, February 10th. The shares were purchased at an average cost of $16.64 per share, with a total value of $499,200.00. Following the completion of the purchase, the director now owns 180,166 shares of the company’s stock, valued at $2,997,962.24. This represents a 19.98 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.00% of the company’s stock.

MDU Resources Group Stock Performance

NYSE MDU opened at $16.78 on Friday. MDU Resources Group, Inc. has a 52-week low of $14.91 and a 52-week high of $30.52. The company has a fifty day moving average of $18.02 and a 200-day moving average of $22.26. The company has a market capitalization of $3.42 billion, a P/E ratio of 12.16, a P/E/G ratio of 2.61 and a beta of 0.80. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.07 and a current ratio of 1.15.

MDU Resources Group (NYSE:MDU) last issued its quarterly earnings results on Thursday, February 6th. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.03. MDU Resources Group had a return on equity of 10.20% and a net margin of 7.31%. As a group, equities research analysts predict that MDU Resources Group, Inc. will post 0.95 EPS for the current fiscal year.

MDU Resources Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Thursday, March 13th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 3.10%. The ex-dividend date is Thursday, March 13th. MDU Resources Group’s dividend payout ratio (DPR) is presently 37.68%.

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.