Mdu Resources Group Inc (NYSE:MDU) Sees Significant Decline in Short Interest

Mdu Resources Group Inc (NYSE:MDU) saw a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 2,549,500 shares, a drop of 6.3% from the July 31st total of 2,720,600 shares. Based on an average daily volume of 1,080,000 shares, the days-to-cover ratio is currently 2.4 days. Currently, 1.3% of the shares of the stock are sold short.

Several hedge funds have recently modified their holdings of the company. Geode Capital Management LLC boosted its stake in shares of Mdu Resources Group by 15.4% during the 4th quarter. Geode Capital Management LLC now owns 2,957,670 shares of the utilities provider’s stock worth $70,510,000 after acquiring an additional 393,966 shares in the last quarter. Bank of Montreal Can boosted its stake in shares of Mdu Resources Group by 36.6% during the 1st quarter. Bank of Montreal Can now owns 47,216 shares of the utilities provider’s stock worth $1,220,000 after acquiring an additional 12,651 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of Mdu Resources Group during the 1st quarter worth $240,000. Janus Henderson Group PLC boosted its stake in shares of Mdu Resources Group by 27.2% during the 1st quarter. Janus Henderson Group PLC now owns 56,323 shares of the utilities provider’s stock worth $1,455,000 after acquiring an additional 12,053 shares in the last quarter. Finally, California Public Employees Retirement System boosted its stake in shares of Mdu Resources Group by 6.8% during the 1st quarter. California Public Employees Retirement System now owns 563,953 shares of the utilities provider’s stock worth $14,567,000 after acquiring an additional 35,771 shares in the last quarter. Institutional investors own 68.12% of the company’s stock.

Shares of MDU stock traded up $0.12 during mid-day trading on Monday, hitting $28.23. 43,138 shares of the stock traded hands, compared to its average volume of 763,849. Mdu Resources Group has a twelve month low of $22.73 and a twelve month high of $28.24. The firm has a market cap of $5.57 billion, a price-to-earnings ratio of 20.41, a price-to-earnings-growth ratio of 2.61 and a beta of 0.67. The company’s 50-day simple moving average is $26.74 and its 200-day simple moving average is $26.02. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.23 and a current ratio of 1.58.



Mdu Resources Group (NYSE:MDU) last issued its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.04. Mdu Resources Group had a return on equity of 11.11% and a net margin of 5.91%. The company had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.30 billion. During the same period last year, the firm earned $0.22 EPS. The firm’s revenue for the quarter was up 22.4% on a year-over-year basis. Analysts forecast that Mdu Resources Group will post 1.51 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Thursday, September 12th will be given a dividend of $0.2025 per share. This represents a $0.81 annualized dividend and a dividend yield of 2.87%. The ex-dividend date of this dividend is Wednesday, September 11th. Mdu Resources Group’s dividend payout ratio (DPR) is presently 58.70%.

Several brokerages have recently issued reports on MDU. Williams Capital lifted their price target on Mdu Resources Group from $31.00 to $32.00 and gave the company a “buy” rating in a research report on Monday. Zacks Investment Research upgraded Mdu Resources Group from a “sell” rating to a “hold” rating in a research report on Monday, May 20th.

About Mdu Resources Group

MDU Resources Group, Inc engages in regulated energy delivery, and construction materials and services businesses in the United States. It operates through five segments: Electric, Natural Gas Distribution, Pipeline and Midstream, Construction Materials and Contracting, and Construction Services. The Electric segment generates, transmits, and distributes electricity in Montana, North Dakota, South Dakota, and Wyoming.

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