MDU Resources Group, Inc. (NYSE:MDU) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its stake in shares of MDU Resources Group, Inc. (NYSE:MDU - Free Report) by 4.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,022,319 shares of the utilities provider's stock after selling 88,276 shares during the quarter. Bank of New York Mellon Corp owned 0.99% of MDU Resources Group worth $34,197,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new position in MDU Resources Group in the fourth quarter worth approximately $861,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in MDU Resources Group by 42.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 67,319 shares of the utilities provider's stock worth $1,213,000 after acquiring an additional 19,895 shares during the last quarter. HighTower Advisors LLC lifted its stake in MDU Resources Group by 18.8% in the fourth quarter. HighTower Advisors LLC now owns 38,903 shares of the utilities provider's stock worth $701,000 after acquiring an additional 6,164 shares during the last quarter. Avantax Advisory Services Inc. lifted its stake in MDU Resources Group by 13.9% in the fourth quarter. Avantax Advisory Services Inc. now owns 19,025 shares of the utilities provider's stock worth $343,000 after acquiring an additional 2,315 shares during the last quarter. Finally, Swiss National Bank lifted its stake in MDU Resources Group by 0.8% in the fourth quarter. Swiss National Bank now owns 380,990 shares of the utilities provider's stock worth $6,865,000 after acquiring an additional 3,000 shares during the last quarter. Hedge funds and other institutional investors own 71.44% of the company's stock.

MDU Resources Group Stock Performance

MDU traded up $0.24 during trading on Wednesday, hitting $16.90. The stock had a trading volume of 1,279,705 shares, compared to its average volume of 2,349,189. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.82 and a current ratio of 0.85. The firm has a market capitalization of $3.45 billion, a P/E ratio of 13.10, a PEG ratio of 2.75 and a beta of 0.70. The company's 50-day moving average price is $16.80 and its 200 day moving average price is $17.02. MDU Resources Group, Inc. has a twelve month low of $13.23 and a twelve month high of $20.39.

MDU Resources Group (NYSE:MDU - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The utilities provider reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.04. The company had revenue of $674.80 million for the quarter, compared to analysts' expectations of $653.13 million. MDU Resources Group had a net margin of 7.93% and a return on equity of 9.86%. MDU Resources Group's revenue was up 14.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.52 EPS. On average, equities research analysts forecast that MDU Resources Group, Inc. will post 0.94 EPS for the current fiscal year.

MDU Resources Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Thursday, June 12th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.08%. MDU Resources Group's dividend payout ratio (DPR) is presently 40.31%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of MDU Resources Group from a "sell" rating to a "hold" rating in a research report on Monday, May 12th.

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.