Martingale Asset Management L P Boosts Stake in Murphy USA Inc. $MUSA

Key Points

• Martingale Asset Management L P increased its stake in Murphy USA Inc. by 2.7%, owning approximately 40,158 shares valued at $18,867,000 as of the end of Q1.
• Several hedge funds have adjusted their positions in Murphy USA, with institutional investors holding 80.81% of the stock.
• Murphy USA announced a quarterly dividend increase from $0.50 to $0.53, reflecting a positive change and an annual yield of 0.5%.

Martingale Asset Management L P grew its holdings in Murphy USA Inc. (NYSE:MUSA - Free Report) by 2.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,158 shares of the specialty retailer's stock after acquiring an additional 1,049 shares during the period. Martingale Asset Management L P owned about 0.20% of Murphy USA worth $18,867,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. GAMMA Investing LLC lifted its position in shares of Murphy USA by 53,469.2% in the first quarter. GAMMA Investing LLC now owns 553,906 shares of the specialty retailer's stock valued at $260,231,000 after acquiring an additional 552,872 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its position in shares of Murphy USA by 5.4% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 442,130 shares of the specialty retailer's stock valued at $207,717,000 after acquiring an additional 22,733 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Murphy USA by 94.0% in the first quarter. JPMorgan Chase & Co. now owns 371,667 shares of the specialty retailer's stock valued at $174,613,000 after acquiring an additional 180,055 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Murphy USA by 21.1% in the first quarter. Dimensional Fund Advisors LP now owns 268,373 shares of the specialty retailer's stock worth $126,065,000 after purchasing an additional 46,677 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Murphy USA by 61.5% in the first quarter. Victory Capital Management Inc. now owns 252,575 shares of the specialty retailer's stock worth $118,662,000 after purchasing an additional 96,200 shares during the last quarter. 80.81% of the stock is currently owned by hedge funds and other institutional investors.

Murphy USA Trading Up 1.2%

Shares of NYSE:MUSA traded up $4.42 during trading hours on Tuesday, hitting $376.72. 69,515 shares of the company's stock traded hands, compared to its average volume of 294,036. Murphy USA Inc. has a 1 year low of $345.23 and a 1 year high of $561.08. The business has a fifty day moving average price of $404.11 and a 200-day moving average price of $442.47. The firm has a market capitalization of $7.27 billion, a P/E ratio of 15.60 and a beta of 0.42. The company has a debt-to-equity ratio of 3.20, a current ratio of 0.80 and a quick ratio of 0.39.

Murphy USA (NYSE:MUSA - Get Free Report) last announced its earnings results on Wednesday, July 30th. The specialty retailer reported $7.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.82 by $0.54. Murphy USA had a return on equity of 64.63% and a net margin of 2.52%.The business had revenue of $5.01 billion during the quarter, compared to analyst estimates of $5.17 billion. During the same quarter in the previous year, the business earned $6.92 earnings per share. The company's revenue for the quarter was down 8.2% compared to the same quarter last year. Equities analysts expect that Murphy USA Inc. will post 26.45 earnings per share for the current year.

Murphy USA Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Monday, August 25th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.6%. This is a boost from Murphy USA's previous quarterly dividend of $0.50. The ex-dividend date is Monday, August 25th. Murphy USA's dividend payout ratio (DPR) is presently 8.28%.

Analysts Set New Price Targets

MUSA has been the topic of several research reports. Zacks Research raised Murphy USA from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 20th. Wall Street Zen cut Murphy USA from a "buy" rating to a "hold" rating in a report on Friday, May 9th. Stephens reduced their target price on Murphy USA from $530.00 to $475.00 and set an "overweight" rating on the stock in a report on Friday, May 9th. KeyCorp reduced their target price on Murphy USA from $500.00 to $480.00 and set an "overweight" rating on the stock in a report on Friday, July 25th. Finally, Wells Fargo & Company reduced their price objective on Murphy USA from $520.00 to $440.00 and set an "overweight" rating on the stock in a research note on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $476.29.

Insider Buying and Selling

In related news, COO Malynda K. West sold 1,859 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $386.22, for a total value of $717,982.98. Following the completion of the sale, the chief operating officer owned 117,389 shares in the company, valued at approximately $45,337,979.58. The trade was a 1.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Madison Murphy purchased 5,000 shares of the stock in a transaction that occurred on Tuesday, August 5th. The stock was purchased at an average price of $367.01 per share, with a total value of $1,835,050.00. Following the acquisition, the director directly owned 389,172 shares of the company's stock, valued at $142,830,015.72. This trade represents a 1.30% increase in their position. The disclosure for this purchase can be found here. 10.12% of the stock is currently owned by insiders.

Murphy USA Profile

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.