Seven Eight Capital LP Purchases Shares of 12,734 MDU Resources Group Inc (MDU)

Seven Eight Capital LP purchased a new position in shares of MDU Resources Group Inc (NYSE:MDU) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 12,734 shares of the utilities provider’s stock, valued at approximately $327,000.

Other hedge funds have also bought and sold shares of the company. MERIAN GLOBAL INVESTORS UK Ltd increased its stake in shares of MDU Resources Group by 253.5% in the third quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 1,265,617 shares of the utilities provider’s stock worth $32,513,000 after buying an additional 907,590 shares during the period. Los Angeles Capital Management & Equity Research Inc. increased its stake in shares of MDU Resources Group by 521.8% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 463,251 shares of the utilities provider’s stock worth $13,286,000 after buying an additional 388,750 shares during the period. Renaissance Technologies LLC increased its stake in shares of MDU Resources Group by 878.4% in the second quarter. Renaissance Technologies LLC now owns 391,350 shares of the utilities provider’s stock worth $11,224,000 after buying an additional 351,350 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of MDU Resources Group by 34.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,334,976 shares of the utilities provider’s stock worth $38,288,000 after buying an additional 340,491 shares during the period. Finally, BlackRock Inc. increased its stake in shares of MDU Resources Group by 1.6% in the second quarter. BlackRock Inc. now owns 17,393,282 shares of the utilities provider’s stock worth $498,839,000 after buying an additional 277,676 shares during the period. 64.36% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE MDU opened at $25.52 on Tuesday. The company has a current ratio of 1.39, a quick ratio of 1.05 and a debt-to-equity ratio of 0.71. MDU Resources Group Inc has a 52 week low of $24.29 and a 52 week high of $29.62. The firm has a market capitalization of $4.98 billion, a P/E ratio of 20.42, a PEG ratio of 2.82 and a beta of 0.58.



MDU Resources Group (NYSE:MDU) last issued its quarterly earnings data on Tuesday, July 31st. The utilities provider reported $0.22 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.06). The company had revenue of $1.06 billion for the quarter. MDU Resources Group had a net margin of 6.45% and a return on equity of 10.40%. On average, analysts anticipate that MDU Resources Group Inc will post 1.38 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 1st. Shareholders of record on Thursday, September 13th were given a dividend of $0.1975 per share. This represents a $0.79 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date was Wednesday, September 12th. MDU Resources Group’s payout ratio is currently 63.20%.

Several brokerages recently commented on MDU. KeyCorp lifted their target price on shares of MDU Resources Group from $29.00 to $30.00 and gave the stock a “$29.34” rating in a research note on Thursday, July 19th. Citigroup lifted their target price on shares of MDU Resources Group from $28.00 to $29.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 31st. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $29.25.

MDU Resources Group Profile

MDU Resources Group, Inc engages in regulated energy delivery, and construction materials and services businesses in the United States. The company operates through five segments: Electric, Natural Gas Distribution, Pipeline and Midstream, Construction Materials and Contracting, and Construction Services.

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Institutional Ownership by Quarter for MDU Resources Group (NYSE:MDU)

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