MetLife Investment Management LLC Sells 101,797 Shares of MDU Resources Group, Inc. (NYSE:MDU)

MetLife Investment Management LLC decreased its holdings in MDU Resources Group, Inc. (NYSE:MDU) by 96.6% in the 4th quarter, HoldingsChannel reports. The firm owned 3,568 shares of the utilities provider’s stock after selling 101,797 shares during the quarter. MetLife Investment Management LLC’s holdings in MDU Resources Group were worth $64,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. First Trust Advisors LP raised its holdings in shares of MDU Resources Group by 132.0% in the fourth quarter. First Trust Advisors LP now owns 6,999,856 shares of the utilities provider’s stock valued at $126,137,000 after buying an additional 3,982,783 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of MDU Resources Group by 16.6% in the fourth quarter. Vanguard Group Inc. now owns 22,997,452 shares of the utilities provider’s stock worth $414,414,000 after acquiring an additional 3,276,114 shares during the last quarter. Norges Bank acquired a new position in shares of MDU Resources Group during the fourth quarter worth approximately $40,857,000. Hennessy Advisors Inc. grew its stake in shares of MDU Resources Group by 1,098.5% during the fourth quarter. Hennessy Advisors Inc. now owns 2,155,007 shares of the utilities provider’s stock valued at $38,833,000 after purchasing an additional 1,975,200 shares during the last quarter. Finally, Pertento Partners LLP increased its holdings in shares of MDU Resources Group by 90.3% in the fourth quarter. Pertento Partners LLP now owns 2,990,144 shares of the utilities provider’s stock valued at $53,882,000 after purchasing an additional 1,419,118 shares in the last quarter. Institutional investors and hedge funds own 71.44% of the company’s stock.

MDU Resources Group Stock Performance

MDU Resources Group stock opened at $17.36 on Friday. MDU Resources Group, Inc. has a 1 year low of $13.23 and a 1 year high of $20.39. The company’s 50-day moving average is $16.79 and its two-hundred day moving average is $18.12. 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 company has a market cap of $3.55 billion, a PE ratio of 12.58, a PEG ratio of 2.76 and a beta of 0.72.

MDU Resources Group (NYSE:MDU) last posted its quarterly earnings results on Thursday, May 8th. The utilities provider reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. MDU Resources Group had a return on equity of 10.20% and a net margin of 7.31%. The company had revenue of $674.80 million for the quarter, compared to the consensus estimate of $653.13 million. During the same quarter in the prior year, the business posted $0.52 EPS. The firm’s quarterly revenue was up 14.7% on a year-over-year basis. Equities analysts anticipate that MDU Resources Group, Inc. will post 0.94 earnings per share for the current year.

MDU Resources Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Thursday, March 13th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.52 annualized dividend and a dividend yield of 3.00%. MDU Resources Group’s payout ratio is currently 37.68%.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded MDU Resources Group from a “hold” rating to a “sell” rating in a report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, MDU Resources Group presently has a consensus rating of “Hold” and an average price target of $21.00.

Insider Transactions at MDU Resources Group

In other news, Director Dennis W. Johnson purchased 30,000 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was bought at an average price of $16.64 per share, with a total value of $499,200.00. Following the acquisition, the director now directly owns 180,166 shares of the company’s stock, valued at approximately $2,997,962.24. This represents a 19.98 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.94% of the company’s stock.

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.