River Road Asset Management LLC Sells 1,438,279 Shares of MDU Resources Group, Inc. (NYSE:MDU)

River Road Asset Management LLC cut its holdings in shares of MDU Resources Group, Inc. (NYSE:MDU) by 74.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 482,899 shares of the utilities provider’s stock after selling 1,438,279 shares during the period. River Road Asset Management LLC’s holdings in MDU Resources Group were worth $13,236,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Catalyst Capital Advisors LLC boosted its stake in shares of MDU Resources Group by 3.5% in the third quarter. Catalyst Capital Advisors LLC now owns 89,010 shares of the utilities provider’s stock valued at $2,440,000 after buying an additional 3,000 shares during the period. State of Alaska Department of Revenue increased its holdings in MDU Resources Group by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 23,585 shares of the utilities provider’s stock valued at $646,000 after purchasing an additional 1,605 shares during the period. Assenagon Asset Management S.A. acquired a new stake in MDU Resources Group in the third quarter valued at $2,234,000. Riverwater Partners LLC acquired a new stake in MDU Resources Group in the third quarter valued at $1,348,000. Finally, Greenleaf Trust increased its holdings in MDU Resources Group by 9.5% in the third quarter. Greenleaf Trust now owns 10,257 shares of the utilities provider’s stock valued at $281,000 after purchasing an additional 890 shares during the period. 71.44% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on MDU shares. Siebert Williams Shank upgraded MDU Resources Group from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a report on Monday. Bank of America upgraded MDU Resources Group from a “neutral” rating to a “buy” rating and reduced their target price for the company from $31.00 to $17.00 in a research note on Tuesday. Finally, StockNews.com initiated coverage on MDU Resources Group in a research note on Tuesday. They issued a “hold” rating for the company.

MDU Resources Group Price Performance

MDU Resources Group stock opened at $16.46 on Wednesday. MDU Resources Group, Inc. has a 52 week low of $14.91 and a 52 week high of $30.52. The company’s 50 day moving average price is $26.64 and its two-hundred day moving average price is $25.71. The company has a quick ratio of 1.15, a current ratio of 1.22 and a debt-to-equity ratio of 0.73. The stock has a market cap of $3.36 billion, a P/E ratio of 8.23, a P/E/G ratio of 1.42 and a beta of 0.76.

MDU Resources Group (NYSE:MDU) last issued its quarterly earnings results on Thursday, August 8th. The utilities provider reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.11. MDU Resources Group had a net margin of 9.25% and a return on equity of 11.29%. The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same quarter last year, the business posted $0.29 EPS. MDU Resources Group’s quarterly revenue was down 4.0% compared to the same quarter last year. On average, equities analysts predict that MDU Resources Group, Inc. will post 1.57 earnings per share for the current year.

MDU Resources Group Dividend Announcement

The business also recently declared a dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, October 21st were paid a dividend of $12.875 per share. The ex-dividend date was Friday, November 1st. MDU Resources Group’s payout ratio is currently 26.00%.

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.