The Manufacturers Life Insurance Company Sells 116,658 Shares of MDU Resources Group, Inc. (NYSE:MDU)

The Manufacturers Life Insurance Company reduced its holdings in MDU Resources Group, Inc. (NYSE:MDU - Free Report) by 60.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 75,040 shares of the utilities provider's stock after selling 116,658 shares during the period. The Manufacturers Life Insurance Company's holdings in MDU Resources Group were worth $1,352,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. increased its holdings in shares of MDU Resources Group by 19.4% in the 4th quarter. Blue Trust Inc. now owns 3,505 shares of the utilities provider's stock valued at $63,000 after purchasing an additional 570 shares during the period. Principal Securities Inc. increased its stake in MDU Resources Group by 164.4% in the 4th quarter. Principal Securities Inc. now owns 1,470 shares of the utilities provider's stock valued at $26,000 after buying an additional 914 shares during the period. V Square Quantitative Management LLC lifted its position in MDU Resources Group by 99.6% in the 4th quarter. V Square Quantitative Management LLC now owns 1,834 shares of the utilities provider's stock worth $33,000 after buying an additional 915 shares in the last quarter. Atlas Capital Advisors Inc. boosted its stake in shares of MDU Resources Group by 84.4% during the 4th quarter. Atlas Capital Advisors Inc. now owns 2,487 shares of the utilities provider's stock valued at $45,000 after buying an additional 1,138 shares during the period. Finally, Riverwater Partners LLC boosted its position in MDU Resources Group by 2.3% during the fourth quarter. Riverwater Partners LLC now owns 50,714 shares of the utilities provider's stock valued at $914,000 after purchasing an additional 1,151 shares during the last quarter. 71.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded MDU Resources Group from a "sell" rating to a "hold" rating in a report on Monday. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, MDU Resources Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $21.00.

MDU Resources Group Stock Up 1.0%

NYSE:MDU traded up $0.17 during trading hours on Friday, reaching $17.41. The company's stock had a trading volume of 1,424,443 shares, compared to its average volume of 2,471,549. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.15 and a quick ratio of 1.07. The company has a market cap of $3.56 billion, a price-to-earnings ratio of 12.61, a price-to-earnings-growth ratio of 2.76 and a beta of 0.72. MDU Resources Group, Inc. has a one year low of $13.23 and a one year high of $20.39. The business's 50-day moving average is $16.81 and its 200-day moving average is $17.79.

MDU Resources Group (NYSE:MDU - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The utilities provider reported $0.40 earnings per share for the quarter, beating analysts' consensus estimates of $0.36 by $0.04. The business had revenue of $674.80 million for the quarter, compared to the consensus estimate of $653.13 million. MDU Resources Group had a return on equity of 10.20% and a net margin of 7.31%. The firm's revenue was up 14.7% compared to the same quarter last year. During the same period last year, the business earned $0.52 EPS. Equities research analysts predict that MDU Resources Group, Inc. will post 0.94 EPS for the current year.

MDU Resources Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Thursday, June 12th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.99%. MDU Resources Group's dividend payout ratio is 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.