Franklin Resources Inc. Sells 444,216 Shares of MDU Resources Group, Inc. (NYSE:MDU)

Franklin Resources Inc. lowered its position in shares of MDU Resources Group, Inc. (NYSE:MDU - Free Report) by 32.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 938,471 shares of the utilities provider's stock after selling 444,216 shares during the quarter. Franklin Resources Inc. owned 0.46% of MDU Resources Group worth $27,084,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new position in shares of MDU Resources Group during the third quarter worth $25,000. Atlas Capital Advisors LLC acquired a new stake in MDU Resources Group during the 2nd quarter worth $27,000. Venturi Wealth Management LLC lifted its holdings in MDU Resources Group by 158.9% during the third quarter. Venturi Wealth Management LLC now owns 1,196 shares of the utilities provider's stock worth $33,000 after acquiring an additional 734 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in MDU Resources Group in the third quarter valued at about $40,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of MDU Resources Group by 23.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,142 shares of the utilities provider's stock worth $54,000 after acquiring an additional 413 shares in the last quarter. Institutional investors and hedge funds own 71.44% of the company's stock.

MDU Resources Group Stock Up 2.0 %

Shares of MDU traded up $0.36 during midday trading on Thursday, hitting $17.98. The stock had a trading volume of 2,106,191 shares, compared to its average volume of 1,624,579. The firm has a market cap of $3.67 billion, a price-to-earnings ratio of 9.22, a price-to-earnings-growth ratio of 2.46 and a beta of 0.79. The company has a 50 day simple moving average of $21.97 and a two-hundred day simple moving average of $24.37. MDU Resources Group, Inc. has a twelve month low of $14.91 and a twelve month high of $30.52. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.15 and a quick ratio of 1.07.

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

MDU Resources Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Thursday, December 12th will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.89%. The ex-dividend date is Thursday, December 12th. MDU Resources Group's payout ratio is 26.67%.

Analyst Ratings Changes

Several research firms have recently weighed in on MDU. Siebert Williams Shank upgraded MDU Resources Group from a "hold" rating to a "buy" rating and set a $19.00 price objective on the stock in a report on Monday, November 4th. StockNews.com started coverage on shares of MDU Resources Group in a report on Wednesday. They set a "hold" rating on the stock. Finally, Bank of America raised shares of MDU Resources Group from a "neutral" rating to a "buy" rating and cut their price target for the company from $31.00 to $17.00 in a research note on Tuesday, November 5th.

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.