Needham Investment Management LLC Acquires 212,500 Shares of MDU Resources Group, Inc. (NYSE:MDU)

Needham Investment Management LLC lifted its stake in MDU Resources Group, Inc. (NYSE:MDU) by 98.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 427,500 shares of the utilities provider’s stock after buying an additional 212,500 shares during the period. Needham Investment Management LLC owned about 0.21% of MDU Resources Group worth $11,718,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. V Square Quantitative Management LLC bought a new stake in MDU Resources Group in the third quarter valued at $25,000. Atlas Capital Advisors LLC acquired a new position in MDU Resources Group during the 2nd quarter worth about $27,000. Venturi Wealth Management LLC grew its holdings in MDU Resources Group by 158.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,196 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 734 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in MDU Resources Group in the 3rd quarter valued at about $40,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of MDU Resources Group by 23.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,142 shares of the utilities provider’s stock worth $54,000 after purchasing an additional 413 shares in the last quarter. Institutional investors own 71.44% of the company’s stock.

Analyst Ratings Changes

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

MDU Resources Group Trading Down 0.6 %

NYSE MDU traded down $0.12 on Tuesday, reaching $20.01. The company had a trading volume of 155,998 shares, compared to its average volume of 1,614,786. MDU Resources Group, Inc. has a 52 week low of $14.91 and a 52 week high of $30.52. The stock’s 50 day moving average is $23.99 and its 200-day moving average is $24.89. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.73. The stock has a market cap of $4.08 billion, a price-to-earnings ratio of 10.33, a PEG ratio of 2.59 and a beta of 0.79.

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

MDU Resources Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Thursday, December 12th will be given a dividend of $0.13 per share. 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 2.60%. MDU Resources Group’s dividend payout ratio is 26.67%.

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.