Americafirst Capital Management LLC Invests $1.33 Million in MDU Resources Group, Inc. (MDU) Stock

Americafirst Capital Management LLC purchased a new position in MDU Resources Group, Inc. (NYSE:MDU) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 50,775 shares of the utilities provider’s stock, valued at approximately $1,330,000. MDU Resources Group makes up 1.7% of Americafirst Capital Management LLC’s portfolio, making the stock its 10th biggest holding.

A number of other institutional investors have also modified their holdings of the business. AT Bancorp acquired a new stake in MDU Resources Group during the 2nd quarter worth about $131,000. Global X Management Co. LLC raised its holdings in MDU Resources Group by 220.3% during the 2nd quarter. Global X Management Co. LLC now owns 6,198 shares of the utilities provider’s stock worth $162,000 after buying an additional 4,263 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in MDU Resources Group by 8.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,671 shares of the utilities provider’s stock worth $175,000 after buying an additional 537 shares during the period. Mosaic Family Wealth LLC raised its holdings in MDU Resources Group by 5.7% during the 2nd quarter. Mosaic Family Wealth LLC now owns 6,972 shares of the utilities provider’s stock worth $183,000 after buying an additional 374 shares during the period. Finally, Ffcm LLC raised its holdings in MDU Resources Group by 5.7% during the 2nd quarter. Ffcm LLC now owns 7,360 shares of the utilities provider’s stock worth $193,000 after buying an additional 396 shares during the period. Hedge funds and other institutional investors own 63.56% of the company’s stock.

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In other news, CEO David L. Goodin purchased 5,000 shares of MDU Resources Group stock in a transaction that occurred on Friday, August 11th. The stock was acquired at an average cost of $25.57 per share, for a total transaction of $127,850.00. Following the purchase, the chief executive officer now directly owns 95,210 shares of the company’s stock, valued at approximately $2,434,519.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.95% of the company’s stock.

Shares of MDU Resources Group, Inc. (NYSE:MDU) traded up 0.29% on Friday, hitting $27.24. The stock had a trading volume of 51,443 shares. The stock’s 50-day moving average price is $26.72 and its 200 day moving average price is $26.60. The company has a market cap of $5.32 billion, a PE ratio of 23.69 and a beta of 0.91. MDU Resources Group, Inc. has a 52 week low of $24.71 and a 52 week high of $29.92.

MDU Resources Group (NYSE:MDU) last issued its earnings results on Tuesday, August 1st. The utilities provider reported $0.22 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.03). The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.10 billion. MDU Resources Group had a return on equity of 10.24% and a net margin of 5.37%. The business’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.24 earnings per share. On average, analysts predict that MDU Resources Group, Inc. will post $1.21 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Sunday, October 1st. Investors of record on Thursday, September 14th were paid a $0.1925 dividend. The ex-dividend date of this dividend was Wednesday, September 13th. This represents a $0.77 annualized dividend and a yield of 2.84%. MDU Resources Group’s dividend payout ratio (DPR) is presently 66.96%.

Several analysts have issued reports on MDU shares. Zacks Investment Research downgraded MDU Resources Group from a “hold” rating to a “strong sell” rating in a report on Friday, July 28th. KeyCorp restated a “buy” rating and set a $28.00 price objective on shares of MDU Resources Group in a report on Friday, September 1st. Finally, BidaskClub downgraded MDU Resources Group from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $30.75.

MDU Resources Group Company Profile

MDU Resources Group, Inc is engaged in regulated energy delivery and construction materials and services business. The Company’s businesses segments are electric, natural gas distribution, pipeline and midstream, construction materials and contracting, and construction services. The electric segment generates, transmits and distributes electricity.

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

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