Sprucegrove Investment Management Ltd Lowers stake in MDU Resources Group Inc (MDU)

MDU Resources Group Inc (MDU) : Sprucegrove Investment Management Ltd reduced its stake in MDU Resources Group Inc by 6.36% during the most recent quarter end. The investment management company now holds a total of 2,975,000 shares of MDU Resources Group Inc which is valued at $71,251,250 after selling 201,900 shares in MDU Resources Group Inc , the firm said in a disclosure report filed with the SEC on Jul 25, 2016.MDU Resources Group Inc makes up approximately 2.80% of Sprucegrove Investment Management Ltd’s portfolio.

Other Hedge Funds, Including , Huntington National Bank reduced its stake in MDU by selling 2,977 shares or 30.92% in the most recent quarter. The Hedge Fund company now holds 6,651 shares of MDU which is valued at $159,291. Simplex Trading sold out all of its stake in MDU during the most recent quarter. The investment firm sold 2,566 shares of MDU which is valued $61,969.Fenimore Asset Management Inc reduced its stake in MDU by selling 1,771 shares or 0.66% in the most recent quarter. The Hedge Fund company now holds 264,707 shares of MDU which is valued at $6,387,380. MDU Resources Group Inc makes up approx 0.31% of Fenimore Asset Management Inc’s portfolio.Creative Planning boosted its stake in MDU in the latest quarter, The investment management firm added 936 additional shares and now holds a total of 6,719 shares of MDU Resources Group Inc which is valued at $162,129.Weaver C. Barksdale Associates reduced its stake in MDU by selling 91 shares or 10.07% in the most recent quarter. The Hedge Fund company now holds 813 shares of MDU which is valued at $19,618. MDU Resources Group Inc makes up approx 0.03% of Weaver C. Barksdale Associates’s portfolio.

MDU Resources Group Inc opened for trading at $23.89 and hit $24.25 on the upside on Friday, eventually ending the session at $24.05, with a gain of 0.63% or 0.15 points. The heightened volatility saw the trading volume jump to 52,44,838 shares. Company has a market cap of $4,697 M.

On the company’s financial health, MDU Resources Group Inc reported $0.25 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Feb 3, 2016. Analyst had a consensus of $0.27. The company had revenue of $1062.50 million for the quarter, compared to analysts expectations of $1139.90 million. The company’s revenue was down -8.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.38 EPS.

MDU Resources Group Inc. is a natural resource company. The Company’s segments include electric natural gas distribution pipeline and energy services exploration and production construction materials and contracting and construction services. The electric segment provides electric service at retail. The natural gas distribution segment sells natural gas at retail. The pipeline and energy services segment through WBI Holdings Inc. owns and operates both regulated and nonregulated businesses. The exploration and production segment is involved in the development and production of oil and natural gas resources. The construction materials and contracting segment mines aggregates and markets crushed stone sand gravel and related construction materials. The construction services segment is engaged in constructing and maintaining electric and communication lines gas pipelines fire suppression systems and external lighting and traffic signalization equipment.

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