MDU Resources Group, Inc. (NYSE:MDU) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. trimmed its stake in MDU Resources Group, Inc. (NYSE:MDU) by 30.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 566,699 shares of the utilities provider’s stock after selling 245,440 shares during the quarter. Victory Capital Management Inc. owned approximately 0.28% of MDU Resources Group worth $15,533,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. V Square Quantitative Management LLC acquired a new stake in shares of MDU Resources Group in the third quarter worth $25,000. Atlas Capital Advisors LLC acquired a new stake in shares of MDU Resources Group in the second quarter worth $27,000. Venturi Wealth Management LLC boosted its position in shares of MDU Resources Group by 158.9% in 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 during the period. Capital Performance Advisors LLP acquired a new stake in shares of MDU Resources Group in the third quarter worth $40,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position 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 buying an additional 413 shares during the period. 71.44% of the stock is currently owned by institutional investors and hedge funds.

MDU Resources Group Price Performance

NYSE MDU opened at $18.74 on Wednesday. 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 quick ratio of 1.07 and a current ratio of 1.15. The stock has a market capitalization of $3.82 billion, a PE ratio of 9.61, a P/E/G ratio of 2.37 and a beta of 0.76. The stock has a 50-day simple moving average of $25.34 and a 200 day simple moving average of $25.28.

MDU Resources Group (NYSE:MDU) last posted its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.01. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $969.17 million. MDU Resources Group had a return on equity of 11.24% and a net margin of 8.92%. The firm’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.29 EPS. Research analysts anticipate that MDU Resources Group, Inc. will post 1.13 EPS for the current year.

MDU Resources Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Thursday, December 12th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $0.52 annualized dividend and a yield of 2.78%. MDU Resources Group’s dividend payout ratio (DPR) is 26.67%.

Analysts Set New Price Targets

Several analysts have recently commented on MDU shares. Bank of America raised MDU Resources Group from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $31.00 to $17.00 in a research report on Tuesday, November 5th. Siebert Williams Shank upgraded MDU Resources Group from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research note on Monday, November 4th. Finally, StockNews.com began coverage on MDU Resources Group in a research note on Tuesday, November 5th. They issued a “hold” rating on the stock.

MDU Resources Group 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.