Amalgamated Bank Sells 37,834 Shares of MDU Resources Group, Inc. (NYSE:MDU)

Posted by Defense World Staff on Jul 28th, 2023

Amalgamated Bank reduced its position in shares of MDU Resources Group, Inc. (NYSE:MDU – Free Report) by 21.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 139,673 shares of the utilities provider’s stock after selling 37,834 shares during the period. Amalgamated Bank owned 0.07% of MDU Resources Group worth $4,257,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. U.S. Capital Wealth Advisors LLC bought a new stake in shares of MDU Resources Group during the 4th quarter worth $27,000. Parallel Advisors LLC boosted its holdings in shares of MDU Resources Group by 163.5% during the 1st quarter. Parallel Advisors LLC now owns 909 shares of the utilities provider’s stock worth $28,000 after buying an additional 564 shares during the period. Money Concepts Capital Corp bought a new stake in shares of MDU Resources Group during the 4th quarter worth $33,000. Signaturefd LLC boosted its holdings in shares of MDU Resources Group by 67.5% during the 1st quarter. Signaturefd LLC now owns 1,134 shares of the utilities provider’s stock worth $35,000 after buying an additional 457 shares during the period. Finally, Stonebridge Capital Advisors LLC boosted its holdings in MDU Resources Group by 71.0% in the 4th quarter. Stonebridge Capital Advisors LLC now owns 1,325 shares of the utilities provider’s stock valued at $40,000 after purchasing an additional 550 shares during the period. 69.63% of the stock is owned by institutional investors.

MDU Resources Group Trading Down 1.7 %

Shares of MDU Resources Group stock opened at $22.04 on Friday. The stock has a market capitalization of $4.49 billion, a P/E ratio of 11.98, a price-to-earnings-growth ratio of 2.99 and a beta of 0.75. The company has a quick ratio of 1.03, a current ratio of 1.29 and a debt-to-equity ratio of 0.77. The company has a 50-day simple moving average of $22.50 and a 200 day simple moving average of $27.50. MDU Resources Group, Inc. has a 12-month low of $18.47 and a 12-month high of $22.55.

MDU Resources Group (NYSE:MDU – Get Free Report) last announced its earnings results on Thursday, May 4th. The utilities provider reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. The business had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.38 billion. MDU Resources Group had a net margin of 5.13% and a return on equity of 11.25%. The firm’s revenue for the quarter was up 22.6% on a year-over-year basis. During the same quarter last year, the company posted $0.16 EPS. Research analysts expect that MDU Resources Group, Inc. will post 1.3 earnings per share for the current fiscal year.

MDU Resources Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Saturday, July 1st. Investors of record on Tuesday, June 13th were given a dividend of $0.2225 per share. This represents a $0.89 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date of this dividend was Monday, June 12th. MDU Resources Group’s dividend payout ratio (DPR) is currently 48.37%.

Wall Street Analyst Weigh In

MDU has been the subject of a number of research reports. StockNews.com initiated coverage on shares of MDU Resources Group in a report on Thursday. They issued a “hold” rating for the company. Bank of America raised shares of MDU Resources Group from an “underperform” rating to a “buy” rating in a report on Thursday, June 1st.

MDU Resources Group Profile

(Free Report)

MDU Resources Group, Inc engages in the regulated energy delivery, and construction materials and services businesses in the United States. It operates through five segments: Electric, Natural Gas Distribution, Pipeline, Construction Materials and Contracting, 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 84 transmission and 294 distribution substations.