Amalgamated Bank Sells 4,913 Shares of MDU Resources Group, Inc. (NYSE:MDU)

Amalgamated Bank reduced its stake in shares of MDU Resources Group, Inc. (NYSE:MDUGet Rating) by 3.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 140,425 shares of the utilities provider’s stock after selling 4,913 shares during the quarter. Amalgamated Bank owned about 0.07% of MDU Resources Group worth $3,742,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Chase Investment Counsel Corp grew its stake in shares of MDU Resources Group by 3.2% during the first quarter. Chase Investment Counsel Corp now owns 12,286 shares of the utilities provider’s stock valued at $327,000 after purchasing an additional 380 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of MDU Resources Group by 28.9% during the first quarter. Fifth Third Bancorp now owns 1,880 shares of the utilities provider’s stock valued at $50,000 after purchasing an additional 422 shares during the last quarter. Arizona State Retirement System grew its stake in shares of MDU Resources Group by 0.9% during the first quarter. Arizona State Retirement System now owns 54,969 shares of the utilities provider’s stock valued at $1,465,000 after purchasing an additional 485 shares during the last quarter. Eaton Vance Management grew its stake in shares of MDU Resources Group by 0.4% during the first quarter. Eaton Vance Management now owns 116,518 shares of the utilities provider’s stock valued at $3,105,000 after purchasing an additional 507 shares during the last quarter. Finally, Comerica Bank grew its stake in shares of MDU Resources Group by 0.5% during the first quarter. Comerica Bank now owns 102,001 shares of the utilities provider’s stock valued at $2,861,000 after purchasing an additional 549 shares during the last quarter. 71.32% of the stock is owned by institutional investors.

MDU Resources Group Price Performance

Shares of MDU stock opened at $29.20 on Thursday. The firm’s 50 day moving average price is $29.56 and its two-hundred day moving average price is $27.61. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.06 and a current ratio of 1.35. The stock has a market cap of $5.94 billion, a PE ratio of 18.14, a PEG ratio of 2.61 and a beta of 0.72. MDU Resources Group, Inc. has a 52-week low of $24.92 and a 52-week high of $32.19.

MDU Resources Group (NYSE:MDUGet Rating) last posted its earnings results on Thursday, August 4th. The utilities provider reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.16). The firm had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.48 billion. MDU Resources Group had a return on equity of 9.74% and a net margin of 5.32%. The company’s revenue for the quarter was up 19.6% on a year-over-year basis. During the same quarter last year, the business posted $0.50 earnings per share. As a group, analysts forecast that MDU Resources Group, Inc. will post 1.85 EPS for the current year.

MDU Resources Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Saturday, October 1st. Shareholders of record on Thursday, September 8th will be issued a $0.2175 dividend. The ex-dividend date is Wednesday, September 7th. This represents a $0.87 annualized dividend and a yield of 2.98%. MDU Resources Group’s dividend payout ratio (DPR) is presently 54.04%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on MDU shares. Citigroup raised their price objective on shares of MDU Resources Group to $31.00 in a research note on Monday, August 15th. Bank of America cut shares of MDU Resources Group from a “buy” rating to a “neutral” rating and raised their price objective for the company from $29.00 to $30.00 in a research note on Friday, August 5th.

About MDU Resources Group

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MDU Resources Group, Inc engages in the regulated energy delivery, and construction materials and services businesses in the United States. The company's Electric segment generates, transmits, and distributes electricity for residential, commercial, industrial, and municipal customers in Montana, North Dakota, South Dakota, and Wyoming, as well as operates 3,500 miles of transmission lines and 4,800 miles of distribution lines.

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

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