Victory Capital Management Inc. Sells 245,440 Shares of MDU Resources Group, Inc. (NYSE:MDU)

Victory Capital Management Inc. cut its holdings in MDU Resources Group, Inc. (NYSE:MDU - Free Report) by 30.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 566,699 shares of the utilities provider's stock after selling 245,440 shares during the period. Victory Capital Management Inc. owned approximately 0.28% of MDU Resources Group worth $15,533,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Northwestern Mutual Wealth Management Co. grew its stake in MDU Resources Group by 23.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,142 shares of the utilities provider's stock worth $54,000 after buying an additional 413 shares in the last quarter. BOKF NA grew its stake in MDU Resources Group by 4.1% during the first quarter. BOKF NA now owns 14,794 shares of the utilities provider's stock worth $377,000 after buying an additional 579 shares in the last quarter. SummerHaven Investment Management LLC grew its stake in MDU Resources Group by 1.8% during the second quarter. SummerHaven Investment Management LLC now owns 34,869 shares of the utilities provider's stock worth $875,000 after buying an additional 606 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 worth $33,000 after buying an additional 734 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its stake in MDU Resources Group by 3.5% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 24,264 shares of the utilities provider's stock worth $609,000 after buying an additional 817 shares in the last quarter. 71.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MDU has been the subject of a number of research reports. StockNews.com initiated coverage on shares of MDU Resources Group in a report on Tuesday, November 5th. They issued a "hold" rating for the company. Bank of America raised shares of MDU Resources Group from a "neutral" rating to a "buy" rating and dropped their target price for the stock from $31.00 to $17.00 in a report on Tuesday, November 5th. Finally, Siebert Williams Shank upgraded shares of MDU Resources Group from a "hold" rating to a "buy" rating and set a $19.00 price objective for the company in a report on Monday, November 4th.

MDU Resources Group Stock Performance

MDU Resources Group stock traded up $0.04 during midday trading on Wednesday, reaching $18.78. The stock had a trading volume of 2,876,969 shares, compared to its average volume of 1,604,627. MDU Resources Group, Inc. has a 12 month low of $14.91 and a 12 month high of $30.52. The firm's 50-day moving average price is $25.21 and its 200 day moving average price is $25.24. The firm has a market capitalization of $3.83 billion, a PE ratio of 9.62, a P/E/G ratio of 2.37 and a beta of 0.76. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.73.

MDU Resources Group (NYSE:MDU - Get Free Report) last posted its earnings results on Thursday, November 7th. The utilities provider reported $0.32 earnings per share 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 during the quarter, compared to analyst estimates of $969.17 million. During the same quarter in the previous year, the firm earned $0.29 EPS. The company's quarterly revenue was up 5.0% compared to the same quarter last year. As a group, research analysts predict that MDU Resources Group, Inc. will post 1.13 earnings per share for the current fiscal year.

MDU Resources Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Thursday, December 12th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 2.77%. The ex-dividend date is Thursday, December 12th. MDU Resources Group's dividend payout ratio (DPR) is 26.67%.

MDU Resources Group Company Profile

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.