Bank of New York Mellon Corp Sells 247,535 Shares of Mdu Resources Group Inc (MDU)

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Bank of New York Mellon Corp decreased its holdings in shares of Mdu Resources Group Inc (NYSE:MDU) by 7.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,307,435 shares of the utilities provider’s stock after selling 247,535 shares during the period. Bank of New York Mellon Corp owned about 1.69% of Mdu Resources Group worth $78,849,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in MDU. Bank of Montreal Can boosted its holdings in shares of Mdu Resources Group by 32.8% during the 3rd quarter. Bank of Montreal Can now owns 35,158 shares of the utilities provider’s stock valued at $903,000 after purchasing an additional 8,690 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Mdu Resources Group by 98.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 133,612 shares of the utilities provider’s stock valued at $3,426,000 after purchasing an additional 66,422 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Mdu Resources Group by 19.9% during the 3rd quarter. Victory Capital Management Inc. now owns 665,692 shares of the utilities provider’s stock valued at $17,102,000 after purchasing an additional 110,292 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Mdu Resources Group by 14.5% during the 3rd quarter. Wells Fargo & Company MN now owns 1,228,421 shares of the utilities provider’s stock valued at $31,558,000 after purchasing an additional 155,877 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Mdu Resources Group by 21.4% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 15,991 shares of the utilities provider’s stock valued at $411,000 after purchasing an additional 2,818 shares during the last quarter. 66.17% of the stock is owned by institutional investors.

MDU opened at $25.69 on Friday. Mdu Resources Group Inc has a 52 week low of $22.73 and a 52 week high of $29.62. The stock has a market cap of $5.20 billion, a price-to-earnings ratio of 18.62, a P/E/G ratio of 2.98 and a beta of 0.68. The company has a quick ratio of 0.91, a current ratio of 1.20 and a debt-to-equity ratio of 0.72.

Mdu Resources Group (NYSE:MDU) last released its quarterly earnings data on Tuesday, February 5th. The utilities provider reported $0.39 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.03). Mdu Resources Group had a net margin of 6.01% and a return on equity of 10.80%. The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period last year, the company earned $0.59 EPS. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, sell-side analysts forecast that Mdu Resources Group Inc will post 1.48 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Thursday, March 14th will be issued a $0.2025 dividend. This represents a $0.81 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date is Wednesday, March 13th. Mdu Resources Group’s payout ratio is 58.70%.

In other Mdu Resources Group news, Director David M. Sparby purchased 3,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was purchased at an average price of $25.75 per share, with a total value of $77,250.00. Following the acquisition, the director now owns 4,726 shares in the company, valued at $121,694.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.98% of the stock is currently owned by company insiders.

Separately, Zacks Investment Research raised shares of Mdu Resources Group from a “sell” rating to a “buy” rating and set a $26.00 price objective for the company in a report on Thursday, January 3rd.

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About Mdu Resources Group

MDU Resources Group, Inc engages in regulated energy delivery, and construction materials and services businesses in the United States. The company operates through five segments: Electric, Natural Gas Distribution, Pipeline and Midstream, Construction Materials and Contracting, and Construction Services.

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Institutional Ownership by Quarter for Mdu Resources Group (NYSE:MDU)

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