Allspring Global Investments Holdings LLC Decreases Stake in Murphy USA Inc. (NYSE:MUSA)

Allspring Global Investments Holdings LLC cut its holdings in shares of Murphy USA Inc. (NYSE:MUSA - Free Report) by 51.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 19,353 shares of the specialty retailer's stock after selling 20,767 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.10% of Murphy USA worth $9,197,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Golden State Wealth Management LLC purchased a new position in Murphy USA during the 1st quarter worth approximately $40,000. CX Institutional purchased a new position in Murphy USA during the 1st quarter worth approximately $59,000. Johnson Financial Group Inc. purchased a new position in Murphy USA during the 4th quarter worth approximately $64,000. SBI Securities Co. Ltd. purchased a new position in Murphy USA during the 4th quarter worth approximately $67,000. Finally, Farther Finance Advisors LLC raised its position in Murphy USA by 63.5% during the 1st quarter. Farther Finance Advisors LLC now owns 157 shares of the specialty retailer's stock worth $75,000 after buying an additional 61 shares during the last quarter. 80.81% of the stock is owned by hedge funds and other institutional investors.

Murphy USA Price Performance

Shares of NYSE MUSA traded up $2.27 during trading on Monday, hitting $425.28. The company had a trading volume of 256,691 shares, compared to its average volume of 227,711. The stock has a fifty day simple moving average of $436.12 and a two-hundred day simple moving average of $465.64. Murphy USA Inc. has a fifty-two week low of $385.44 and a fifty-two week high of $561.08. The firm has a market capitalization of $8.40 billion, a price-to-earnings ratio of 17.94 and a beta of 0.48. The company has a quick ratio of 0.39, a current ratio of 0.80 and a debt-to-equity ratio of 2.74.

Murphy USA (NYSE:MUSA - Get Free Report) last announced its earnings results on Wednesday, May 7th. The specialty retailer reported $2.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.87 by ($1.24). Murphy USA had a net margin of 2.46% and a return on equity of 61.19%. The company had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.79 billion. During the same quarter last year, the business earned $3.12 EPS. The firm's revenue for the quarter was down 6.6% compared to the same quarter last year. On average, research analysts expect that Murphy USA Inc. will post 26.45 earnings per share for the current year.

Murphy USA Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 12th were given a $0.50 dividend. This is a positive change from Murphy USA's previous quarterly dividend of $0.49. The ex-dividend date was Monday, May 12th. This represents a $2.00 annualized dividend and a dividend yield of 0.47%. Murphy USA's dividend payout ratio (DPR) is 8.44%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Melius assumed coverage on shares of Murphy USA in a report on Tuesday, March 11th. They set a "buy" rating and a $600.00 target price for the company. Raymond James Financial lowered shares of Murphy USA from an "outperform" rating to a "market perform" rating in a report on Friday, May 9th. KeyCorp cut their target price on shares of Murphy USA from $550.00 to $525.00 and set an "overweight" rating for the company in a report on Friday, May 9th. Wall Street Zen lowered shares of Murphy USA from a "buy" rating to a "hold" rating in a report on Friday, May 9th. Finally, Melius Research raised shares of Murphy USA to a "strong-buy" rating in a report on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $526.29.

Insider Activity

In related news, Director David C. Haley bought 1,000 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were acquired at an average price of $435.58 per share, for a total transaction of $435,580.00. Following the completion of the transaction, the director directly owned 1,000 shares in the company, valued at $435,580. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 9.04% of the stock is currently owned by company insiders.

About Murphy USA

Murphy USA Inc engages in marketing of retail motor fuel products and convenience merchandise. The company operates retail stores under the Murphy USA, Murphy Express, and QuickChek brands, as well as operates non-fuel convenience stores. It operates retail gasoline stores principally in the Southeast, Southwest, and Midwest United States.