Elo Mutual Pension Insurance Co Invests $305,000 in MDU Resources Group, Inc. (NYSE:MDU)

Elo Mutual Pension Insurance Co acquired a new stake in MDU Resources Group, Inc. (NYSE:MDU) in the 4th quarter, Holdings Channel reports. The firm acquired 16,915 shares of the utilities provider’s stock, valued at approximately $305,000.

Several other hedge funds and other institutional investors have also modified their holdings of MDU. Vanguard Group Inc. boosted its holdings in MDU Resources Group by 16.6% in the 4th quarter. Vanguard Group Inc. now owns 22,997,452 shares of the utilities provider’s stock valued at $414,414,000 after purchasing an additional 3,276,114 shares during the period. Hennessy Advisors Inc. lifted its stake in shares of MDU Resources Group by 1,098.5% in the fourth quarter. Hennessy Advisors Inc. now owns 2,155,007 shares of the utilities provider’s stock valued at $38,833,000 after buying an additional 1,975,200 shares during the period. Principal Financial Group Inc. grew its position in MDU Resources Group by 109.3% during the fourth quarter. Principal Financial Group Inc. now owns 988,008 shares of the utilities provider’s stock worth $17,804,000 after buying an additional 515,878 shares in the last quarter. Jupiter Asset Management Ltd. increased its stake in MDU Resources Group by 40.9% during the fourth quarter. Jupiter Asset Management Ltd. now owns 1,334,820 shares of the utilities provider’s stock valued at $24,053,000 after acquiring an additional 387,173 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in MDU Resources Group by 18.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 2,114,019 shares of the utilities provider’s stock valued at $37,926,000 after acquiring an additional 331,481 shares in the last quarter. Institutional investors and hedge funds own 71.44% of the company’s stock.

MDU Resources Group Trading Up 0.0 %

MDU stock opened at $16.67 on Monday. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.73. The firm has a market cap of $3.41 billion, a P/E ratio of 12.08, a P/E/G ratio of 2.76 and a beta of 0.81. MDU Resources Group, Inc. has a 1-year low of $12.99 and a 1-year high of $20.39. The business’s 50 day moving average is $17.11 and its 200-day moving average is $20.39.

MDU Resources Group (NYSE:MDU) last released its quarterly earnings data 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%. Equities analysts anticipate that MDU Resources Group, Inc. will post 0.94 earnings per share for the current fiscal year.

MDU Resources Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Thursday, March 13th will be given a $0.13 dividend. The ex-dividend date is Thursday, March 13th. This represents a $0.52 dividend on an annualized basis and a yield of 3.12%. MDU Resources Group’s dividend payout ratio (DPR) is presently 37.68%.

Insiders Place Their Bets

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

Analysts Set New Price Targets

Several analysts have recently weighed in on MDU shares. Jefferies Financial Group started coverage on MDU Resources Group in a research report on Wednesday, January 8th. They set a “hold” rating and a $18.00 price objective on the stock. StockNews.com downgraded shares of MDU Resources Group from a “hold” rating to a “sell” rating in a research note on Thursday, February 20th. One 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. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $21.00.

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.