Westport Asset Management Inc. Grows Position in MDU Resources Group, Inc. (NYSE:MDU)

Westport Asset Management Inc. boosted its stake in MDU Resources Group, Inc. (NYSE:MDU) by 200.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,000 shares of the utilities provider’s stock after buying an additional 10,000 shares during the period. Westport Asset Management Inc.’s holdings in MDU Resources Group were worth $411,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of MDU. Algert Global LLC grew its stake in shares of MDU Resources Group by 453.6% in the third quarter. Algert Global LLC now owns 282,573 shares of the utilities provider’s stock valued at $7,745,000 after buying an additional 231,530 shares in the last quarter. Cerity Partners LLC increased its stake in MDU Resources Group by 5.9% during the third quarter. Cerity Partners LLC now owns 57,472 shares of the utilities provider’s stock worth $1,575,000 after purchasing an additional 3,177 shares during the period. Citigroup Inc. lifted its position in shares of MDU Resources Group by 464.9% during the third quarter. Citigroup Inc. now owns 149,060 shares of the utilities provider’s stock worth $4,086,000 after purchasing an additional 122,671 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of MDU Resources Group by 5.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,082,468 shares of the utilities provider’s stock valued at $57,080,000 after purchasing an additional 101,955 shares during the period. Finally, Foundry Partners LLC acquired a new position in shares of MDU Resources Group in the third quarter valued at approximately $4,594,000. Institutional investors and hedge funds own 71.44% of the company’s stock.

Analyst Upgrades and Downgrades

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

MDU Resources Group Price Performance

Shares of MDU stock remained flat at $20.13 during trading hours on Tuesday. The stock had a trading volume of 298,087 shares, compared to its average volume of 1,608,191. The stock has a fifty day moving average price of $24.67 and a 200 day moving average price of $25.07. The company has a market capitalization of $4.10 billion, a price-to-earnings ratio of 10.32, a PEG ratio of 2.58 and a beta of 0.76. MDU Resources Group, Inc. has a 1-year low of $14.91 and a 1-year high of $30.52. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.15 and a quick ratio of 1.07.

MDU Resources Group (NYSE:MDU) last posted its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.01. MDU Resources Group had a return on equity of 11.24% and a net margin of 8.92%. The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $969.17 million. During the same period last year, the firm earned $0.29 EPS. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. As a group, 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 firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Thursday, December 12th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date is Thursday, December 12th. MDU Resources Group’s dividend payout ratio (DPR) 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.