The Manufacturers Life Insurance Company Sells 7,437 Shares of MDU Resources Group, Inc. (NYSE:MDU)

The Manufacturers Life Insurance Company trimmed its holdings in shares of MDU Resources Group, Inc. (NYSE:MDU) by 3.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 191,698 shares of the utilities provider’s stock after selling 7,437 shares during the quarter. The Manufacturers Life Insurance Company owned 0.09% of MDU Resources Group worth $5,254,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its holdings in MDU Resources Group by 6.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 96,492 shares of the utilities provider’s stock valued at $2,432,000 after purchasing an additional 6,237 shares during the period. CWM LLC increased its stake in shares of MDU Resources Group by 39.9% in the second quarter. CWM LLC now owns 34,707 shares of the utilities provider’s stock valued at $871,000 after buying an additional 9,899 shares during the period. SG Americas Securities LLC bought a new position in shares of MDU Resources Group during the second quarter worth about $2,198,000. Allied Investment Advisors LLC acquired a new position in shares of MDU Resources Group in the second quarter worth approximately $557,000. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in MDU Resources Group by 19.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 17,955 shares of the utilities provider’s stock valued at $451,000 after acquiring an additional 2,974 shares during the last quarter. 71.44% of the stock is currently owned by institutional investors and hedge funds.

MDU Resources Group Price Performance

MDU Resources Group stock opened at $19.47 on Friday. The stock has a market capitalization of $3.97 billion, a price-to-earnings ratio of 9.98, a PEG ratio of 2.57 and a beta of 0.79. MDU Resources Group, Inc. has a 52-week low of $14.91 and a 52-week high of $30.52. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.07 and a current ratio of 1.15. The stock’s 50 day moving average price is $23.52 and its two-hundred day moving average price is $24.78.

MDU Resources Group (NYSE:MDU) last issued its earnings results on Thursday, November 7th. The utilities provider reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.01. MDU Resources Group had a net margin of 8.92% and a return on equity of 11.24%. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $969.17 million. During the same period in the prior year, the firm earned $0.29 earnings per share. MDU Resources Group’s revenue was up 5.0% on a year-over-year basis. On average, equities analysts predict that MDU Resources Group, Inc. will post 1.13 earnings per share for the current year.

MDU Resources Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Thursday, December 12th will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date is Thursday, December 12th. MDU Resources Group’s payout ratio is 26.67%.

Analysts Set New Price Targets

Several research analysts have issued reports on MDU shares. Bank of America upgraded shares of MDU Resources Group from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $31.00 to $17.00 in a report on Tuesday, November 5th. StockNews.com initiated coverage on shares of MDU Resources Group in a research note on Tuesday, November 5th. They set a “hold” rating for the company. Finally, Siebert Williams Shank raised shares of MDU Resources Group from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research report on Monday, November 4th.

About MDU Resources Group

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.