20,051 Shares in MDU Resources Group, Inc. (NYSE:MDU) Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc acquired a new stake in MDU Resources Group, Inc. (NYSE:MDU) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 20,051 shares of the utilities provider’s stock, valued at approximately $361,000.

A number of other institutional investors have also bought and sold shares of MDU. Hennessy Advisors Inc. grew its position 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 purchasing an additional 1,975,200 shares in the last quarter. Principal Financial Group Inc. boosted its stake 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 during the last quarter. Allspring Global Investments Holdings LLC grew 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 buying an additional 331,481 shares in the last quarter. Advisors Preferred LLC acquired a new stake in shares of MDU Resources Group in the 4th quarter worth $5,691,000. Finally, Beacon Harbor Wealth Advisors Inc. purchased a new position in shares of MDU Resources Group during the 3rd quarter worth $6,351,000. 71.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MDU has been the topic of several recent analyst reports. Siebert Williams Shank upgraded shares of MDU Resources Group from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a report on Monday, November 4th. StockNews.com lowered MDU Resources Group from a “hold” rating to a “sell” rating in a research report on Thursday. Bank of America upgraded 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 research report on Tuesday, November 5th. Finally, Jefferies Financial Group began coverage on MDU Resources Group in a report on Wednesday, January 8th. They set a “hold” rating and a $18.00 price target for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $21.00.

MDU Resources Group Stock Performance

NYSE MDU opened at $16.64 on Monday. MDU Resources Group, Inc. has a 1-year low of $14.91 and a 1-year high of $30.52. The company has a market capitalization of $3.39 billion, a P/E ratio of 12.06, a PEG ratio of 2.76 and a beta of 0.80. The business has a 50 day moving average price of $17.75 and a 200 day moving average price of $21.83. 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 released its earnings results on Thursday, February 6th. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. MDU Resources Group had a net margin of 7.31% and a return on equity of 10.20%. Sell-side analysts expect that MDU Resources Group, Inc. will post 0.94 EPS for the current fiscal year.

MDU Resources Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Thursday, March 13th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.52 annualized dividend and a yield of 3.12%. MDU Resources Group’s dividend payout ratio is currently 37.68%.

Insider Transactions at MDU Resources Group

In other news, Director Dennis W. Johnson purchased 30,000 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was acquired at an average cost of $16.64 per share, with a total value of $499,200.00. Following the acquisition, the director now owns 180,166 shares in the company, valued at approximately $2,997,962.24. This trade represents a 19.98 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.00% of the company’s stock.

MDU Resources Group Profile

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.