Bank of New York Mellon Corp Buys 324,757 Shares of MDU Resources Group, Inc. (NYSE:MDU)

Bank of New York Mellon Corp raised its holdings in MDU Resources Group, Inc. (NYSE:MDU - Free Report) by 18.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 1.04% of MDU Resources Group worth $38,033,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Blue Trust Inc. increased its stake in shares of MDU Resources Group by 19.4% in the fourth quarter. Blue Trust Inc. now owns 3,505 shares of the utilities provider's stock worth $63,000 after purchasing an additional 570 shares in the last quarter. HighTower Advisors LLC increased its stake in shares of MDU Resources Group by 2.0% in the third quarter. HighTower Advisors LLC now owns 32,739 shares of the utilities provider's stock worth $896,000 after purchasing an additional 641 shares in the last quarter. Venturi Wealth Management LLC grew its stake 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 valued at $33,000 after acquiring an additional 734 shares in the last quarter. Ingalls & Snyder LLC grew its stake in MDU Resources Group by 2.2% during the third quarter. Ingalls & Snyder LLC now owns 39,335 shares of the utilities provider's stock valued at $1,078,000 after acquiring an additional 850 shares in the last quarter. Finally, Principal Securities Inc. grew its stake in MDU Resources Group by 164.4% during the fourth quarter. Principal Securities Inc. now owns 1,470 shares of the utilities provider's stock valued at $26,000 after acquiring an additional 914 shares in the last quarter. Hedge funds and other institutional investors own 71.44% of the company's stock.

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Analyst Upgrades and Downgrades

Several equities analysts recently commented on MDU shares. Jefferies Financial Group started coverage on shares of MDU Resources Group in a research note on Wednesday, January 8th. They set a "hold" rating and a $18.00 price objective for the company. StockNews.com cut shares of MDU Resources Group from a "hold" rating to a "sell" rating in a research note on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, MDU Resources Group presently has a consensus rating of "Hold" and an average target price of $21.00.

Insider Transactions at MDU Resources Group

In other news, Director Dennis W. Johnson purchased 30,000 shares of the company's stock in a transaction that occurred on Monday, February 10th. The shares were bought at an average price of $16.64 per share, for a total transaction of $499,200.00. Following the purchase, the director now directly owns 180,166 shares in the company, valued at approximately $2,997,962.24. This trade represents a 19.98 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.00% of the company's stock.

MDU Resources Group Price Performance

MDU Resources Group stock traded up $0.09 during mid-day trading on Friday, hitting $16.63. 1,701,310 shares of the company traded hands, compared to its average volume of 1,945,882. 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 has a fifty day moving average price of $17.47 and a 200-day moving average price of $21.29. The stock has a market cap of $3.40 billion, a price-to-earnings ratio of 12.05, a price-to-earnings-growth ratio of 2.76 and a beta of 0.81. MDU Resources Group, Inc. has a one year low of $14.91 and a one year high of $30.52.

MDU Resources Group (NYSE:MDU - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The utilities provider reported $0.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.31 by $0.03. MDU Resources Group had a net margin of 7.31% and a return on equity of 10.20%. On average, equities analysts predict that MDU Resources Group, Inc. will post 0.94 earnings per share for the current fiscal year.

MDU Resources Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Thursday, March 13th will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date is Thursday, March 13th. MDU Resources Group's dividend payout ratio is presently 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.