American International Group Inc. Sells 5,510 Shares of MDU Resources Group, Inc. (NYSE:MDU)

American International Group Inc. cut its holdings in shares of MDU Resources Group, Inc. (NYSE:MDU) by 2.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 269,545 shares of the utilities provider’s stock after selling 5,510 shares during the period. American International Group Inc. owned about 0.13% of MDU Resources Group worth $6,793,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its stake in MDU Resources Group by 16.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,181,092 shares of the utilities provider’s stock worth $122,386,000 after purchasing an additional 858,100 shares during the last quarter. River Road Asset Management LLC lifted its stake in MDU Resources Group by 49.6% during the fourth quarter. River Road Asset Management LLC now owns 2,931,590 shares of the utilities provider’s stock worth $58,045,000 after purchasing an additional 972,540 shares during the last quarter. First Trust Advisors LP lifted its stake in MDU Resources Group by 1.8% during the fourth quarter. First Trust Advisors LP now owns 2,561,113 shares of the utilities provider’s stock worth $50,710,000 after purchasing an additional 44,067 shares during the last quarter. Frontier Capital Management Co. LLC lifted its stake in MDU Resources Group by 3.2% during the fourth quarter. Frontier Capital Management Co. LLC now owns 2,141,514 shares of the utilities provider’s stock worth $42,402,000 after purchasing an additional 67,273 shares during the last quarter. Finally, Norges Bank bought a new stake in MDU Resources Group during the fourth quarter worth $38,971,000. 71.44% of the stock is currently owned by institutional investors.

MDU Resources Group Price Performance

MDU stock opened at $26.67 on Friday. The company has a market capitalization of $5.44 billion, a P/E ratio of 11.40, a PEG ratio of 2.84 and a beta of 0.77. The company has a fifty day moving average price of $25.24 and a 200-day moving average price of $23.39. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.37 and a current ratio of 1.43. MDU Resources Group, Inc. has a 52-week low of $18.04 and a 52-week high of $27.00.

MDU Resources Group (NYSE:MDU) last issued its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.05. MDU Resources Group had a net margin of 10.74% and a return on equity of 11.42%. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter in the previous year, the firm posted $0.23 earnings per share. MDU Resources Group’s revenue for the quarter was down 15.1% on a year-over-year basis. As a group, equities analysts expect that MDU Resources Group, Inc. will post 1.55 EPS for the current year.

MDU Resources Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Thursday, June 13th were given a dividend of $0.125 per share. The ex-dividend date was Thursday, June 13th. This represents a $0.50 dividend on an annualized basis and a yield of 1.87%. MDU Resources Group’s dividend payout ratio (DPR) is currently 21.37%.

Analysts Set New Price Targets

MDU has been the subject of several recent analyst reports. StockNews.com upgraded MDU Resources Group from a “hold” rating to a “buy” rating in a research note on Friday, July 12th. Argus raised MDU Resources Group from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research note on Monday, May 20th.

Insider Buying and Selling at MDU Resources Group

In other news, insider Rob L. Johnson purchased 36,291 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were acquired at an average price of $25.46 per share, with a total value of $923,968.86. Following the completion of the transaction, the insider now owns 41,934 shares of the company’s stock, valued at approximately $1,067,639.64. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.00% of the company’s stock.

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.