Comerica Bank Has $1.99 Million Stock Position in MDU Resources Group, Inc. (NYSE:MDU)

Comerica Bank raised its holdings in MDU Resources Group, Inc. (NYSE:MDU) by 45.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 110,368 shares of the utilities provider’s stock after purchasing an additional 34,384 shares during the quarter. Comerica Bank owned 0.05% of MDU Resources Group worth $1,989,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of MDU. First Trust Advisors LP grew its position in 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 acquiring an additional 3,982,783 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of MDU Resources Group by 16.6% during the 4th quarter. Vanguard Group Inc. now owns 22,997,452 shares of the utilities provider’s stock valued at $414,414,000 after purchasing an additional 3,276,114 shares during the last quarter. Norges Bank acquired a new position in MDU Resources Group during the 4th quarter worth approximately $40,857,000. Hennessy Advisors Inc. lifted its stake in MDU Resources Group by 1,098.5% in the 4th 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 boosted its position in 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 buying an additional 1,419,118 shares in the last quarter. Institutional investors own 71.44% of the company’s stock.

Analyst Ratings Changes

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

MDU Resources Group Price Performance

Shares of NYSE:MDU opened at $17.36 on Friday. The firm has a market cap of $3.55 billion, a PE ratio of 12.58, a price-to-earnings-growth ratio of 2.76 and a beta of 0.72. MDU Resources Group, Inc. has a 52 week low of $13.23 and a 52 week high of $20.39. The firm’s fifty day moving average is $16.79 and its 200-day moving average is $18.12. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.07 and a current ratio of 1.15.

MDU Resources Group (NYSE:MDU) last released its quarterly earnings results on Thursday, May 8th. The utilities provider reported $0.40 EPS 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 firm had revenue of $674.80 million for the quarter, compared to analyst estimates of $653.13 million. During the same quarter in the previous year, the company posted $0.52 EPS. The business’s revenue was up 14.7% on a year-over-year basis. Sell-side analysts predict that MDU Resources Group, Inc. will post 0.94 earnings per share for the current year.

MDU Resources Group Announces Dividend

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

Insider Activity

In other news, Director Dennis W. Johnson bought 30,000 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were acquired at an average price of $16.64 per share, for a total transaction of $499,200.00. Following the completion of the acquisition, the director now directly owns 180,166 shares in the company, 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 link. Insiders own 0.94% of the company’s 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.