Victory Capital Management Inc. Invests $566,000 in Star Group, L.P. (NYSE:SGU)

Victory Capital Management Inc. bought a new stake in Star Group, L.P. (NYSE:SGU) in the 3rd quarter, Holdings Channel reports. The firm bought 48,224 shares of the pipeline company’s stock, valued at approximately $566,000.

Other institutional investors have also added to or reduced their stakes in the company. Renaissance Technologies LLC lifted its stake in Star Group by 0.3% in the second quarter. Renaissance Technologies LLC now owns 998,445 shares of the pipeline company’s stock valued at $10,623,000 after acquiring an additional 2,800 shares during the last quarter. GSA Capital Partners LLP lifted its stake in Star Group by 89.4% in the 3rd quarter. GSA Capital Partners LLP now owns 22,884 shares of the pipeline company’s stock valued at $269,000 after purchasing an additional 10,799 shares during the last quarter. Acadian Asset Management LLC bought a new position in Star Group during the second quarter worth about $232,000. Cove Street Capital LLC increased its position in Star Group by 15.6% during the second quarter. Cove Street Capital LLC now owns 18,500 shares of the pipeline company’s stock worth $197,000 after buying an additional 2,500 shares during the last quarter. Finally, American Century Companies Inc. bought a new stake in Star Group in the second quarter valued at approximately $124,000. 40.36% of the stock is currently owned by institutional investors and hedge funds.

Star Group Stock Performance

Shares of NYSE SGU opened at $12.62 on Friday. The company has a current ratio of 0.74, a quick ratio of 0.61 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $437.41 million, a P/E ratio of 12.37 and a beta of 0.42. Star Group, L.P. has a 12 month low of $9.64 and a 12 month high of $14.76. The stock has a 50 day moving average of $11.77 and a 200-day moving average of $11.32.

Star Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Monday, October 28th were given a dividend of $0.1725 per share. The ex-dividend date of this dividend was Monday, October 28th. This represents a $0.69 dividend on an annualized basis and a yield of 5.47%. Star Group’s dividend payout ratio (DPR) is 67.65%.

Star Group Company Profile

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.