MDU Resources Group, Inc. (NYSE:MDU) Shares Sold by M&T Bank Corp

M&T Bank Corp decreased its position in shares of MDU Resources Group, Inc. (NYSE:MDU) by 4.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 313,216 shares of the utilities provider’s stock after selling 13,542 shares during the quarter. M&T Bank Corp owned 0.15% of MDU Resources Group worth $8,586,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP boosted its position in MDU Resources Group by 8.1% during the second quarter. Dimensional Fund Advisors LP now owns 7,491,990 shares of the utilities provider’s stock worth $188,049,000 after purchasing an additional 563,424 shares in the last quarter. State Street Corp raised its stake in shares of MDU Resources Group by 1.8% during the 3rd quarter. State Street Corp now owns 6,344,185 shares of the utilities provider’s stock worth $174,713,000 after buying an additional 114,719 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of MDU Resources Group by 40.9% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,048,344 shares of the utilities provider’s stock worth $151,813,000 after buying an additional 1,756,530 shares in the last quarter. American Century Companies Inc. grew its stake in MDU Resources Group by 30.7% in the 2nd quarter. American Century Companies Inc. now owns 4,158,224 shares of the utilities provider’s stock valued at $104,371,000 after acquiring an additional 977,487 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in MDU Resources Group by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 3,719,543 shares of the utilities provider’s stock valued at $101,978,000 after acquiring an additional 65,433 shares in the last quarter. Institutional investors and hedge funds own 71.44% of the company’s stock.

MDU Resources Group Stock Performance

NYSE:MDU opened at $18.10 on Monday. MDU Resources Group, Inc. has a 1-year low of $14.91 and a 1-year high of $30.52. The firm has a 50 day simple moving average of $21.57 and a 200-day simple moving average of $24.27. The firm has a market cap of $3.69 billion, a PE ratio of 9.28, a P/E/G ratio of 2.44 and a beta of 0.79. 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 issued its quarterly earnings results 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 for the quarter, compared to analyst estimates of $969.17 million. During the same quarter in the prior year, the company posted $0.29 EPS. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, equities analysts expect that MDU Resources Group, Inc. will post 1.13 EPS for the current year.

MDU Resources Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Thursday, December 12th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend is Thursday, December 12th. MDU Resources Group’s payout ratio is 26.67%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Siebert Williams Shank upgraded shares of MDU Resources Group from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research report on Monday, November 4th. Bank of America upgraded MDU Resources Group from a “neutral” rating to a “buy” rating and lowered their target price for the company from $31.00 to $17.00 in a report on Tuesday, November 5th. Finally, StockNews.com started coverage on MDU Resources Group in a report on Wednesday, December 18th. They issued a “hold” rating for the company.

MDU Resources Group Company 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.