MDU Resources Group, Inc. (NYSE:MDU) Position Increased by Bank of New York Mellon Corp

Bank of New York Mellon Corp raised its holdings in shares of MDU Resources Group, Inc. (NYSE:MDU) by 18.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,110,595 shares of the utilities provider’s stock after purchasing an additional 324,757 shares during the period. Bank of New York Mellon Corp owned about 1.04% of MDU Resources Group worth $38,033,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Foundry Partners LLC bought a new position in shares of MDU Resources Group during the third quarter worth about $4,594,000. Friedenthal Financial bought a new position in shares of MDU Resources Group during the fourth quarter worth about $778,000. Assenagon Asset Management S.A. grew its position in shares of MDU Resources Group by 42.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 115,907 shares of the utilities provider’s stock worth $2,089,000 after acquiring an additional 34,409 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of MDU Resources Group by 5.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,082,468 shares of the utilities provider’s stock worth $57,080,000 after acquiring an additional 101,955 shares during the last quarter. Finally, Cascade Investment Advisors Inc. grew its position in shares of MDU Resources Group by 21.3% during the fourth quarter. Cascade Investment Advisors Inc. now owns 81,626 shares of the utilities provider’s stock worth $1,471,000 after acquiring an additional 14,360 shares during the last quarter. Institutional investors own 71.44% of the company’s stock.

Insider Buying and Selling

In related news, Director Dennis W. Johnson acquired 30,000 shares of the business’s stock in a transaction on Monday, February 10th. The stock was bought at an average cost of $16.64 per share, with a total value of $499,200.00. Following the completion of the acquisition, the director now owns 180,166 shares in the company, valued at $2,997,962.24. The trade was a 19.98 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MDU. Jefferies Financial Group began coverage on shares of MDU Resources Group in a research report on Wednesday, January 8th. They issued a “hold” rating and a $18.00 target price for the company. StockNews.com lowered shares of MDU Resources Group from a “hold” rating to a “sell” rating in a research report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $21.00.

MDU Resources Group Trading Up 0.5 %

NYSE:MDU opened at $16.63 on Friday. 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 $17.47 and its 200 day moving average price is $21.32. The company has a market capitalization of $3.40 billion, a P/E ratio of 12.05, a P/E/G ratio of 2.76 and a beta of 0.81.

MDU Resources Group (NYSE:MDU) last announced its quarterly earnings results on Thursday, February 6th. The utilities provider reported $0.34 EPS for the quarter, beating the consensus estimate of $0.31 by $0.03. MDU Resources Group had a return on equity of 10.20% and a net margin of 7.31%. On average, research analysts forecast that MDU Resources Group, Inc. will post 0.94 EPS for the current fiscal year.

MDU Resources Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Thursday, March 13th will be given a $0.13 dividend. The ex-dividend date is Thursday, March 13th. This represents a $0.52 annualized dividend and a yield of 3.13%. MDU Resources Group’s dividend payout ratio (DPR) is currently 37.68%.

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.