65,833 Shares in Murphy USA Inc. (NYSE:MUSA) Bought by Kayne Anderson Rudnick Investment Management LLC

01 Dec 2023, 13:10 by Jessica Moore · The Cerbat Gem

Kayne Anderson Rudnick Investment Management LLC purchased a new stake in Murphy USA Inc. (NYSE:MUSA – Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 65,833 shares of the specialty retailer’s stock, valued at approximately $20,481,000. Kayne Anderson Rudnick Investment Management LLC owned approximately 0.31% of Murphy USA at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in MUSA. Pinebridge Investments L.P. lifted its position in shares of Murphy USA by 136.1% during the second quarter. Pinebridge Investments L.P. now owns 85 shares of the specialty retailer’s stock worth $26,000 after purchasing an additional 49 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in shares of Murphy USA by 70.8% during the second quarter. First Horizon Advisors Inc. now owns 111 shares of the specialty retailer’s stock valued at $35,000 after buying an additional 46 shares during the last quarter. Covington Capital Management bought a new stake in shares of Murphy USA during the third quarter valued at approximately $61,000. AXS Investments LLC bought a new stake in shares of Murphy USA during the second quarter valued at approximately $75,000. Finally, State of Wyoming increased its stake in shares of Murphy USA by 14.2% during the fourth quarter. State of Wyoming now owns 370 shares of the specialty retailer’s stock valued at $103,000 after acquiring an additional 46 shares during the period. 83.95% of the stock is currently owned by institutional investors and hedge funds.

Murphy USA Trading Down 0.0 %

NYSE MUSA opened at $369.40 on Friday. Murphy USA Inc. has a twelve month low of $231.65 and a twelve month high of $382.04. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.61 and a current ratio of 1.02. The stock has a market cap of $7.86 billion, a price-to-earnings ratio of 15.58 and a beta of 0.75. The firm’s 50 day moving average price is $361.25 and its two-hundred day moving average price is $324.11.

Murphy USA (NYSE:MUSA – Get Free Report) last posted its quarterly earnings data on Wednesday, November 1st. The specialty retailer reported $7.69 earnings per share for the quarter, topping the consensus estimate of $6.08 by $1.61. Murphy USA had a net margin of 2.40% and a return on equity of 71.06%. The firm had revenue of $5.80 billion for the quarter, compared to analysts’ expectations of $5.83 billion. During the same period in the previous year, the company posted $9.28 EPS. The company’s quarterly revenue was down 6.4% compared to the same quarter last year. Equities analysts anticipate that Murphy USA Inc. will post 23.21 EPS for the current year.

Murphy USA Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Monday, November 6th will be issued a dividend of $0.41 per share. This is a boost from Murphy USA’s previous quarterly dividend of $0.39. This represents a $1.64 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend is Friday, November 3rd. Murphy USA’s payout ratio is currently 6.91%.

Insider Activity

In other news, CMO Renee M. Bacon sold 7,206 shares of the business’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $367.51, for a total transaction of $2,648,277.06. Following the transaction, the chief marketing officer now directly owns 3,083 shares in the company, valued at approximately $1,133,033.33. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Robert Madison Murphy sold 30,000 shares of the company’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $366.69, for a total value of $11,000,700.00. Following the completion of the sale, the director now directly owns 412,077 shares in the company, valued at $151,104,515.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Renee M. Bacon sold 7,206 shares of the company’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $367.51, for a total transaction of $2,648,277.06. Following the completion of the sale, the chief marketing officer now owns 3,083 shares of the company’s stock, valued at $1,133,033.33. The disclosure for this sale can be found here. Insiders have sold a total of 39,474 shares of company stock worth $14,477,727 in the last ninety days. Corporate insiders own 9.04% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on MUSA shares. Stephens reiterated an “overweight” rating and set a $410.00 price objective on shares of Murphy USA in a research note on Thursday, November 2nd. Royal Bank of Canada lowered their price objective on shares of Murphy USA from $362.00 to $360.00 and set a “sector perform” rating on the stock in a research note on Thursday, August 3rd. Wells Fargo & Company lifted their price target on shares of Murphy USA from $330.00 to $385.00 and gave the stock an “overweight” rating in a research report on Monday, September 25th. StockNews.com assumed coverage on shares of Murphy USA in a research report on Thursday, October 5th. They issued a “buy” rating on the stock. Finally, The Goldman Sachs Group lifted their price target on shares of Murphy USA from $252.00 to $280.00 and gave the stock a “sell” rating in a research report on Thursday, October 26th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $348.00.

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