MDU Resources Group, Inc. (NYSE:MDU) Shares Sold by Sasco Capital Inc. CT

Sasco Capital Inc. CT lowered its position in shares of MDU Resources Group, Inc. (NYSE:MDU - Free Report) by 14.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,183,851 shares of the utilities provider's stock after selling 195,560 shares during the period. MDU Resources Group accounts for approximately 4.9% of Sasco Capital Inc. CT's investment portfolio, making the stock its biggest holding. Sasco Capital Inc. CT owned approximately 0.58% of MDU Resources Group worth $32,449,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Sei Investments Co. boosted its holdings in MDU Resources Group by 12.6% in the 1st quarter. Sei Investments Co. now owns 46,208 shares of the utilities provider's stock valued at $1,164,000 after purchasing an additional 5,177 shares during the period. Edgestream Partners L.P. bought a new position in MDU Resources Group during the 1st quarter worth $319,000. Advisors Asset Management Inc. raised its holdings in MDU Resources Group by 20.4% in the 1st quarter. Advisors Asset Management Inc. now owns 205,763 shares of the utilities provider's stock valued at $5,185,000 after acquiring an additional 34,859 shares in the last quarter. Keeley Teton Advisors LLC lifted its position in shares of MDU Resources Group by 1.2% during the 1st quarter. Keeley Teton Advisors LLC now owns 136,179 shares of the utilities provider's stock valued at $3,432,000 after acquiring an additional 1,600 shares during the period. Finally, BOKF NA grew its holdings in shares of MDU Resources Group by 4.1% during the 1st quarter. BOKF NA now owns 14,794 shares of the utilities provider's stock worth $377,000 after purchasing an additional 579 shares in the last quarter. 71.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

MDU Resources Group Price Performance

NYSE:MDU traded up $0.13 on Tuesday, hitting $18.74. The company had a trading volume of 1,525,015 shares, compared to its average volume of 1,598,947. MDU Resources Group, Inc. has a 52 week low of $14.91 and a 52 week high of $30.52. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $3.82 billion, a price-to-earnings ratio of 9.54, a PEG ratio of 2.37 and a beta of 0.76. The firm has a 50 day moving average of $25.34 and a two-hundred day moving average of $25.28.

MDU Resources Group (NYSE:MDU - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.01. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $969.17 million. MDU Resources Group had a return on equity of 11.24% and a net margin of 8.92%. MDU Resources Group's revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter last year, the business posted $0.29 EPS. On average, research analysts anticipate that MDU Resources Group, Inc. will post 1.13 earnings per share 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. Shareholders of record on Thursday, December 12th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend is Thursday, December 12th. MDU Resources Group's payout ratio 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.