First Mercantile Trust Co. lowered its stake in MDU Resources Group, Inc. (NYSE:MDU) by 22.7% during the second quarter, Holdings Channel reports. The institutional investor owned 37,584 shares of the utilities provider’s stock after selling 11,068 shares during the period. First Mercantile Trust Co.’s holdings in MDU Resources Group were worth $985,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of MDU. Strs Ohio raised its stake in MDU Resources Group by 5.1% in the first quarter. Strs Ohio now owns 784,000 shares of the utilities provider’s stock valued at $21,458,000 after buying an additional 38,000 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in MDU Resources Group by 35.1% in the first quarter. Janney Montgomery Scott LLC now owns 9,405 shares of the utilities provider’s stock valued at $257,000 after buying an additional 2,444 shares in the last quarter. First Quadrant L P CA raised its stake in MDU Resources Group by 12.1% in the first quarter. First Quadrant L P CA now owns 64,659 shares of the utilities provider’s stock valued at $1,770,000 after buying an additional 6,967 shares in the last quarter. Glen Harbor Capital Management LLC raised its stake in MDU Resources Group by 90.1% in the first quarter. Glen Harbor Capital Management LLC now owns 25,466 shares of the utilities provider’s stock valued at $697,000 after buying an additional 12,070 shares in the last quarter. Finally, ProShare Advisors LLC raised its stake in MDU Resources Group by 19.5% in the first quarter. ProShare Advisors LLC now owns 331,817 shares of the utilities provider’s stock valued at $9,082,000 after buying an additional 54,216 shares in the last quarter. Institutional investors and hedge funds own 63.40% of the company’s stock.

MDU Resources Group, Inc. (NYSE:MDU) opened at 25.62 on Friday. The company has a market cap of $5.00 billion, a P/E ratio of 22.28 and a beta of 0.91. MDU Resources Group, Inc. has a 1-year low of $22.94 and a 1-year high of $29.92. The stock’s 50 day moving average is $26.02 and its 200 day moving average is $26.75.

MDU Resources Group (NYSE:MDU) last announced its quarterly earnings data on Tuesday, August 1st. The utilities provider reported $0.22 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.25 by $0.03. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.10 billion. MDU Resources Group had a return on equity of 10.24% and a net margin of 5.37%. The company’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.24 earnings per share. Equities analysts anticipate that MDU Resources Group, Inc. will post $1.21 earnings per share for the current fiscal year.

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Several brokerages recently commented on MDU. Zacks Investment Research downgraded shares of MDU Resources Group from a “hold” rating to a “strong sell” rating in a research note on Friday, July 28th. BidaskClub downgraded shares of MDU Resources Group from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. MDU Resources Group presently has an average rating of “Hold” and a consensus target price of $32.33.

About MDU Resources Group

MDU Resources Group, Inc is engaged in regulated energy delivery and construction materials and services business. The Company’s businesses segments are electric, natural gas distribution, pipeline and midstream, construction materials and contracting, and construction services. The electric segment generates, transmits and distributes electricity.

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Institutional Ownership by Quarter for MDU Resources Group (NYSE:MDU)

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