Star Group (NYSE:SGU) Director Scott Baxter Purchases 15,000 Shares

Key Points

• Director Scott Baxter purchased $176,850 worth of Star Group shares at an average price of $11.79 each, increasing his ownership to 15,000 shares.
• Star Group announced a quarterly dividend of $0.185 per share, representing an annualized yield of 6.3% with a payout ratio of 56.06%.
• Analysts have downgraded Star Group from a "strong-buy" to a "hold" rating, indicating a cautious outlook for the stock.

Star Group, L.P. (NYSE:SGU - Get Free Report) Director Scott Baxter purchased 15,000 shares of Star Group stock in a transaction on Wednesday, August 13th. The stock was bought at an average cost of $11.79 per share, with a total value of $176,850.00. Following the completion of the acquisition, the director owned 15,000 shares in the company, valued at approximately $176,850. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link.

Star Group Stock Performance

Star Group stock traded up $0.1050 during mid-day trading on Tuesday, reaching $11.5750. The company had a trading volume of 35,617 shares, compared to its average volume of 65,306. The company has a 50 day moving average of $11.73 and a 200-day moving average of $12.35. The firm has a market cap of $389.04 million, a price-to-earnings ratio of 8.77 and a beta of 0.32. Star Group, L.P. has a 52 week low of $10.84 and a 52 week high of $13.75. The company has a quick ratio of 0.57, a current ratio of 0.70 and a debt-to-equity ratio of 0.51.

Star Group (NYSE:SGU - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The pipeline company reported ($0.48) earnings per share for the quarter. The company had revenue of $305.62 million during the quarter. Star Group had a net margin of 3.77% and a return on equity of 21.24%.

Star Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 6th. Investors of record on Monday, July 28th were paid a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a dividend yield of 6.4%. The ex-dividend date of this dividend was Monday, July 28th. Star Group's payout ratio is 56.06%.

Institutional Trading of Star Group

Large investors have recently added to or reduced their stakes in the company. State of Tennessee Department of Treasury bought a new position in shares of Star Group in the fourth quarter valued at about $26,000. Raymond James Financial Inc. bought a new stake in Star Group during the 2nd quarter worth approximately $89,000. Cary Street Partners Financial LLC bought a new stake in shares of Star Group in the 4th quarter valued at $144,000. Fifth Third Bancorp bought a new stake in shares of Star Group in the 2nd quarter valued at $191,000. Finally, MGO One Seven LLC boosted its stake in Star Group by 7.9% during the fourth quarter. MGO One Seven LLC now owns 17,193 shares of the pipeline company's stock worth $198,000 after acquiring an additional 1,255 shares in the last quarter. Institutional investors and hedge funds own 40.36% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded shares of Star Group from a "strong-buy" rating to a "hold" rating in a research note on Saturday, August 9th.

About Star Group

Star Group, L.P., together with its subsidiaries, provides home heating oil and propane products and services to residential and commercial customers in the United States. It offers gasoline and diesel fuel; and installs, maintain, and repairs heating and air conditioning equipment. As of September 30, 2023, the company served approximately 402,200 full service residential and commercial home heating oil and propane customers and 52,400 customers on a delivery only basis.