Bangor Savings Bank Decreases Stock Holdings in MDU Resources Group, Inc. (NYSE:MDU)

Bangor Savings Bank reduced its stake in shares of MDU Resources Group, Inc. (NYSE:MDU) by 15.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,536 shares of the utilities provider’s stock after selling 1,353 shares during the quarter. Bangor Savings Bank’s holdings in MDU Resources Group were worth $190,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in MDU. HighTower Advisors LLC increased its position in MDU Resources Group by 4.1% during the 3rd quarter. HighTower Advisors LLC now owns 45,933 shares of the utilities provider’s stock valued at $903,000 after purchasing an additional 1,791 shares during the period. UBS Group AG grew its position in shares of MDU Resources Group by 92.9% in the 3rd quarter. UBS Group AG now owns 180,240 shares of the utilities provider’s stock worth $3,529,000 after buying an additional 86,794 shares during the period. FMR LLC grew its position in shares of MDU Resources Group by 48.7% in the 3rd quarter. FMR LLC now owns 3,585,707 shares of the utilities provider’s stock worth $70,208,000 after buying an additional 1,174,799 shares during the period. WINTON GROUP Ltd purchased a new stake in shares of MDU Resources Group in the 3rd quarter worth about $262,000. Finally, Invesco Ltd. grew its position in shares of MDU Resources Group by 32.1% in the 3rd quarter. Invesco Ltd. now owns 1,301,511 shares of the utilities provider’s stock worth $25,484,000 after buying an additional 316,264 shares during the period. 71.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MDU has been the topic of a number of recent research reports. StockNews.com raised shares of MDU Resources Group from a “hold” rating to a “buy” rating in a research report on Monday, May 27th. Argus raised shares of MDU Resources Group from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Monday, May 20th.

Insider Transactions at MDU Resources Group

In other MDU Resources Group news, insider Rob L. Johnson acquired 36,291 shares of the stock in a transaction dated Tuesday, May 7th. The shares were purchased at an average price of $25.46 per share, for a total transaction of $923,968.86. Following the purchase, the insider now directly owns 41,934 shares of the company’s stock, valued at $1,067,639.64. The acquisition was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.00% of the company’s stock.

MDU Resources Group Stock Performance

Shares of MDU Resources Group stock opened at $25.27 on Monday. The stock has a market cap of $5.15 billion, a price-to-earnings ratio of 10.80, a PEG ratio of 2.71 and a beta of 0.77. The firm’s 50-day moving average is $24.90 and its 200 day moving average is $22.45. MDU Resources Group, Inc. has a 1 year low of $18.04 and a 1 year high of $25.99. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.43 and a quick ratio of 1.37.

MDU Resources Group (NYSE:MDU) last posted its earnings results on Thursday, May 2nd. The utilities provider reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.05. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.33 billion. MDU Resources Group had a net margin of 10.74% and a return on equity of 11.42%. The business’s revenue for the quarter was down 15.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.23 EPS. Sell-side analysts anticipate that MDU Resources Group, Inc. will post 1.55 EPS for the current fiscal year.

MDU Resources Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Thursday, June 13th will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Thursday, June 13th. MDU Resources Group’s dividend payout ratio (DPR) is presently 21.37%.

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.