Amalgamated Bank Sells 11,072 Shares of MDU Resources Group, Inc. (NYSE:MDU)

Amalgamated Bank trimmed its holdings in shares of MDU Resources Group, Inc. (NYSE:MDU) by 8.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 127,721 shares of the utilities provider’s stock after selling 11,072 shares during the quarter. Amalgamated Bank owned about 0.06% of MDU Resources Group worth $3,206,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Moors & Cabot Inc. increased its holdings in shares of MDU Resources Group by 3.5% in the 2nd quarter. Moors & Cabot Inc. now owns 42,013 shares of the utilities provider’s stock worth $1,055,000 after buying an additional 1,415 shares during the last quarter. Renaissance Technologies LLC purchased a new position in MDU Resources Group in the second quarter worth $666,000. Dimensional Fund Advisors LP increased its stake in MDU Resources Group by 8.1% in the second quarter. Dimensional Fund Advisors LP now owns 7,491,990 shares of the utilities provider’s stock valued at $188,049,000 after acquiring an additional 563,424 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in MDU Resources Group by 6.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,151,361 shares of the utilities provider’s stock valued at $28,899,000 after purchasing an additional 70,505 shares in the last quarter. Finally, Inspire Advisors LLC bought a new stake in MDU Resources Group during the second quarter worth about $230,000. 71.44% of the stock is currently owned by institutional investors.

MDU Resources Group Trading Up 1.5 %

Shares of MDU opened at $27.68 on Tuesday. MDU Resources Group, Inc. has a fifty-two week low of $18.04 and a fifty-two week high of $27.92. The firm has a market cap of $5.64 billion, a price-to-earnings ratio of 11.83, a PEG ratio of 2.70 and a beta of 0.77. The firm has a 50 day moving average price of $25.68 and a 200-day moving average price of $25.00. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.15 and a current ratio of 1.22.

MDU Resources Group (NYSE:MDU) last posted its quarterly earnings results on Thursday, August 8th. The utilities provider reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.11. MDU Resources Group had a net margin of 9.25% and a return on equity of 11.29%. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the previous year, the firm posted $0.29 earnings per share. The firm’s revenue for the quarter was down 4.0% on a year-over-year basis. As a group, equities research analysts forecast that MDU Resources Group, Inc. will post 1.55 earnings per share for the current year.

MDU Resources Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Thursday, September 12th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend is Thursday, September 12th. This is a positive change from MDU Resources Group’s previous quarterly dividend of $0.13. MDU Resources Group’s dividend payout ratio is 22.22%.

Wall Street Analysts Forecast Growth

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

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.