Bank of Montreal Can Sells 1,921 Shares of MDU Resources Group, Inc. (NYSE:MDU)

Bank of Montreal Can lowered its stake in shares of MDU Resources Group, Inc. (NYSE:MDU) by 4.1% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 45,053 shares of the utilities provider’s stock after selling 1,921 shares during the period. Bank of Montreal Can’s holdings in MDU Resources Group were worth $1,155,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in MDU. Atlas Capital Advisors LLC acquired a new position in MDU Resources Group in the 2nd quarter valued at approximately $27,000. Tompkins Financial Corp raised its stake in shares of MDU Resources Group by 22.2% in the first quarter. Tompkins Financial Corp now owns 4,404 shares of the utilities provider’s stock valued at $111,000 after purchasing an additional 800 shares in the last quarter. IVC Wealth Advisors LLC bought a new position in MDU Resources Group in the first quarter worth $202,000. Ballentine Partners LLC acquired a new stake in MDU Resources Group during the first quarter worth $207,000. Finally, Los Angeles Capital Management LLC bought a new stake in MDU Resources Group in the 1st quarter valued at $208,000. Institutional investors own 71.44% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of MDU Resources Group from a “buy” rating to a “hold” rating in a report on Friday, July 26th.

MDU Resources Group Trading Up 1.3 %

MDU stock opened at $27.25 on Friday. MDU Resources Group, Inc. has a 1-year low of $18.04 and a 1-year high of $27.92. The company has a current ratio of 1.22, a quick ratio of 1.15 and a debt-to-equity ratio of 0.73. The business’s 50 day moving average is $25.83 and its 200-day moving average is $25.28. The firm has a market cap of $5.56 billion, a P/E ratio of 11.65, a P/E/G ratio of 2.62 and a beta of 0.77.

MDU Resources Group (NYSE:MDU) last announced its quarterly earnings results on Thursday, August 8th. The utilities provider reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.11. MDU Resources Group had a return on equity of 11.29% and a net margin of 9.25%. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same period in the prior year, the business posted $0.29 earnings per share. The business’s revenue was down 4.0% compared to the same quarter last year. Equities analysts anticipate that MDU Resources Group, Inc. will post 1.58 earnings per share for the current fiscal year.

MDU Resources Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Thursday, September 12th were issued a dividend of $0.13 per share. This is a positive change from MDU Resources Group’s previous quarterly dividend of $0.13. The ex-dividend date was Thursday, September 12th. This represents a $0.52 annualized dividend and a dividend yield of 1.91%. MDU Resources Group’s dividend payout ratio (DPR) is presently 22.22%.

MDU Resources Group 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.