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

Bank of New York Mellon Corp lessened its holdings in MDU Resources Group, Inc. (NYSE:MDU - Free Report) by 4.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 2,022,319 shares of the utilities provider's stock after selling 88,276 shares during the period. Bank of New York Mellon Corp owned about 0.99% of MDU Resources Group worth $34,197,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Bessemer Group Inc. increased its stake in MDU Resources Group by 179.0% during the 1st quarter. Bessemer Group Inc. now owns 1,518 shares of the utilities provider's stock valued at $25,000 after purchasing an additional 974 shares in the last quarter. GAMMA Investing LLC increased its stake in MDU Resources Group by 241.9% during the 1st quarter. GAMMA Investing LLC now owns 1,843 shares of the utilities provider's stock valued at $31,000 after purchasing an additional 1,304 shares in the last quarter. Atlas Capital Advisors Inc. boosted its holdings in shares of MDU Resources Group by 84.4% in the 4th quarter. Atlas Capital Advisors Inc. now owns 2,487 shares of the utilities provider's stock valued at $45,000 after acquiring an additional 1,138 shares during the last quarter. Johnson Financial Group Inc. purchased a new stake in shares of MDU Resources Group in the 4th quarter valued at $54,000. Finally, Lee Danner & Bass Inc. purchased a new stake in shares of MDU Resources Group in the 4th quarter valued at $77,000. Hedge funds and other institutional investors own 71.44% of the company's stock.

Analysts Set New Price Targets

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

MDU Resources Group Price Performance

MDU traded up $0.03 during midday trading on Friday, hitting $17.02. 1,538,126 shares of the company traded hands, compared to its average volume of 2,348,301. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $3.48 billion, a price-to-earnings ratio of 13.19, a PEG ratio of 2.58 and a beta of 0.70. MDU Resources Group, Inc. has a 52-week low of $13.23 and a 52-week high of $20.39. The business has a 50 day simple moving average of $16.77 and a two-hundred day simple moving average of $17.00.

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

MDU Resources Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Thursday, June 12th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.06%. MDU Resources Group's dividend payout ratio (DPR) is currently 40.31%.

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.