MetLife Investment Management LLC Sells 1,985 Shares of MDU Resources Group, Inc. (NYSE:MDU)

MetLife Investment Management LLC decreased its position in MDU Resources Group, Inc. (NYSE:MDU) by 1.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 105,365 shares of the utilities provider’s stock after selling 1,985 shares during the quarter. MetLife Investment Management LLC’s holdings in MDU Resources Group were worth $2,888,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of MDU. Price T Rowe Associates Inc. MD lifted its holdings in MDU Resources Group by 6.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 96,492 shares of the utilities provider’s stock valued at $2,432,000 after acquiring an additional 6,237 shares during the period. CWM LLC lifted its holdings in MDU Resources Group by 39.9% in the second quarter. CWM LLC now owns 34,707 shares of the utilities provider’s stock valued at $871,000 after acquiring an additional 9,899 shares during the period. Simplicity Wealth LLC lifted its holdings in MDU Resources Group by 12.3% in the second quarter. Simplicity Wealth LLC now owns 168,395 shares of the utilities provider’s stock valued at $4,227,000 after acquiring an additional 18,463 shares during the period. Register Financial Advisors LLC lifted its holdings in MDU Resources Group by 10.2% in the second quarter. Register Financial Advisors LLC now owns 155,203 shares of the utilities provider’s stock valued at $3,896,000 after acquiring an additional 14,421 shares during the period. Finally, SG Americas Securities LLC bought a new position in shares of MDU Resources Group in the second quarter worth about $2,198,000. Institutional investors own 71.44% of the company’s stock.

MDU Resources Group Stock Performance

NYSE:MDU opened at $19.86 on Wednesday. The company has a current ratio of 1.15, a quick ratio of 1.07 and a debt-to-equity ratio of 0.73. MDU Resources Group, Inc. has a 12-month low of $14.91 and a 12-month high of $30.52. The stock has a 50-day moving average price of $23.84 and a 200 day moving average price of $24.85. The stock has a market capitalization of $4.05 billion, a P/E ratio of 10.18, a P/E/G ratio of 2.60 and a beta of 0.79.

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

MDU Resources Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Thursday, December 12th will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend is Thursday, December 12th. MDU Resources Group’s dividend payout ratio is currently 26.67%.

Analyst Ratings Changes

Several research firms have recently commented on MDU. Bank of America raised MDU Resources Group from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $31.00 to $17.00 in a research note on Tuesday, November 5th. Siebert Williams Shank raised MDU Resources Group from a “hold” rating to a “buy” rating and set a $19.00 price objective 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.

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.